New legislation has passed that will support Australia’s transformation to a low carbon economy. It will help producers remain competitive in new domestic and global markets. The Future Made in Australia (Guarantee of Origin) Act 2024, along with its supporting legislation, establishes the framework for the Guarantee of Origin (GO) Scheme.
The Clean Energy Regulator’s (CER) latest Quarterly Carbon Market Report (QCMR) shows that carbon markets are at an important juncture with key developments including:
We recently held Safeguard Mechanism forums across the country. The events in Melbourne, Sydney, Brisbane and Perth brought together industry stakeholders to discuss the latest scheme updates. Attendees also had the opportunity to engage with our staff face-to-face and ask questions.
Key topics covered included:
In response to stakeholder feedback, we are releasing the Quarterly Carbon Market Report (QCMR) data workbook ahead of the report.
From this quarter (Q3) onwards, we will publish the QCMR data shortly after the quarter concludes. This change in our process provides the Australian carbon market access to the quarter’s data in a timelier manner.
The CERT report is a voluntary initiative for eligible companies to present a snapshot of their emissions reduction and renewable electricity commitments. This workbook contains the data for all participating companies for 2024.
We have opened a 6-week consultation on the needs and priorities for establishing new market infrastructure to allow participants better access to carbon markets.
Read this discussion paper to learn more about our consultation on carbon market infrastructure for holding and trading certificates and units.
Total added renewable energy capacity could exceed 7 gigawatts (GW) this year—a combination of an upgraded estimate of 3-4 GW large-scale wind and solar reaching first generation and an estimated 3.1 GW of small-scale rooftop solar, according to the Clean Energy Regulator’s (CER) Quarterly Carbon Market Report (QCMR) for Q2 2024.
Acting CER Chair Mark Williamson said, ‘new power station approved capacity under the Large-scale Renewable Energy Target is increasing.’
The Australian carbon credit unit (ACCU) market is seeing a shift with regulatory compliance emerging as the primary source of unit cancellation, according to the Clean Energy Regulator’s (CER) latest Quarterly Carbon Market Report (QCMR).