A new mechanism is set to implement a key measure the Australian Government agreed to following the King Review—an expert panel report examining ways Australia can lower emissions.
The King Review looked at ways to incentivise low cost abatement and found that a new mechanism could be used to access new sources of abatement.
The King Review recommended that the government establish a below-baseline crediting arrangement to access emissions reductions at large facilities covered by the Safeguard Mechanism.
The proposed Safeguard Crediting Mechanism would aim to unlock below-baseline abatement opportunities not currently being realised under the Safeguard Mechanism or the Emissions Reduction Fund.
We are seeking comments on a consultation paper that considers the detailed design of the crediting mechanism.
Your views will help us develop detailed policy design to be set in subordinate legislation.
Learn more and have your say on our Consultation hub
Submissions are open until 5 October 2021.