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ARTICLE · 06 SEPTEMBER 2022

Energy Brief: Objectifying Emission Reductions

FTI Consulting
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This brief provides a short history of the Objectives and a view of how the addition of an emission reduction objective may change policy settings in the market.

AustraliaEnergy and Natural Resources
Kumar Padisetti
Kumar Padisetti
Emma Fishburn
Emma Fishburn

On 12 August 2022, Energy Ministers from Australian states and territories that make up the country's National Energy Market (NEM) and the Commonwealth Government agreed to fast-track the addition of an emission reduction objective in the National Energy Objectives (Objectives). While the devil is in the detail, this headline-making news could be significant. It could signal the end of the separation of climate change policy from energy market policy and be a critical first step in recognising the important role the energy industry will need to play for Australia to reach its emission reduction objectives.

This brief provides a short history of the Objectives and a view of how the addition of an emission reduction objective may change policy settings in the market.

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