Draft regulations to administer the National Registry of Emissions Units

Key Points:

The draft regulations for the National Registry of Emissions Units are crucial to ensuring there's a robust regulatory framework for the Carbon Farming Initiative and carbon pricing mechanism.

On 31 October 2011, the Commonwealth Government released draft regulations for consultation through the Australian National Registry of Emissions Units Regulations Act 2011 to support the Australian National Registry of Emissions Unit.

The introduction of the Regulations has occurred against the backdrop of the recently enacted Carbon Farming Initiative, and adds to the political momentum that has been gathering for the establishment of an Australian emissions trading scheme in the form of the Carbon Price Mechanism (CPM).