Some states and territories have expressed a desire for companies to meet their regulatory requirements to reduce emissions by undertaking Emissions Reduction Fund (ERF) projects as the ERF provides a robust and established mechanism for carbon accounting and emissions reductions.
In keeping with developments in the carbon market and to facilitate the broader use of the Emissions Reduction Fund, the Clean Energy Regulator is proposing an updated approach to interpreting the regulatory additionality requirement in s27(4A)(b) of the Carbon Credits (Carbon Farming Initiative) Act 2011. The proposed approach offers an avenue through which Australian carbon credit units (ACCUs) can effectively be taken out of circulation to allow project proponents to demonstrate their project is additional, including some particular circumstances where a legislative requirement exists to reduce or offset emissions.
The Clean Energy Regulator is seeking your views on the Draft guidance on meeting the regulatory additionality requirement for the Emissions Reduction Fund.
How to make a submission
Submissions can be emailed to CER-ERFConsultation@cleanenergyregulator.gov.au. Please include the submission coversheet with your submission.
Consultation is open until 5pm, Friday 22 May 2020 (AEST). Any submissions made after this date will be considered at the Clean Energy Regulator’s discretion.
More information
See regulatory additionality for more information.