Deadline nears for submissions on the proposed Carbon Pollution Reduction Scheme

Submissions for the Federal Government's Green Paper on its proposed emissions trading scheme must be in by 10 September 2008.

Do you want to create offsets?  Will you be able to sell them into the Scheme?

The Green Paper outlines how the market will work in relation to creating offsets and in trading them under the Carbon Pollution Reduction Scheme (Scheme). The role of offsets is extremely limited so if you want to expand their role, it is vital that you make your point now.

How will the Scheme interact with other greenhouse gas regulations?

In addition to the proposed obligations under the Scheme, organisations emitting large quantities of greenhouse gases will also be required to adhere to the National Greenhouse and Energy Reporting Act 2007 (Cth) (NGER Act) which commenced in September 2007.

The NGER Act aims to provide a single, national framework for the reporting and dissemination of information on greenhouse gas emissions, energy consumption and energy production of corporations. The Act came into effect on 1 July 2008.

In addition to the NGER Act, state-level schemes are also in place that set renewable energy targets and energy efficiency standards.  How the federal Scheme will interact with these state-level schemes and the reporting obligations under the NGER Act remain unclear.

What does this mean for my involvement in the Scheme?

When writing a submission you should consider whether you are required to meet reporting obligations under the NGER Act and the various schemes, and the degree of overlap and complexity involved.

DLA Phillips Fox can help you to clarify your current obligations and those proposed under the Scheme.

For more information or assistance with a submission in response to the Federal Government's Green Paper, please contact:

Louise Hicks, Partner
Tel +61 3 9274 5459
louise.hicks@dlaphillipsfox.com

Mark Beaufoy, Partner
Tel: +61 3 9274 5377
mark.beaufoy@dlaphillipsfox.com