New Bill Takes First Steps To National Emissions Trading

The Australian Government has taken the first legislative step toward national emission trading by introducing the National Greenhouse and Energy Reporting Bill 2007 into Federal Parliament on 15 August 2007, that will make it mandatory to report certain emissions of greenhouse gases (GHG).

One of the stated purposes of the Bill is to eliminate inconsistencies and establish a single, standardised reporting framework through the Federal Government.

The Government estimates the emissions trading scheme will capture 70-75 per cent of Australia's total emissions.

Introduced amidst pressure from state and territory governments to establish a mandatory reporting scheme, the Bill sets the framework for, and is central to establishing a national emissions trading scheme.