ARTICLE · 18 NOVEMBER 2015

New opportunities emerging for participation in the ERF (Emissions Reduction Fund)

Norton Rose Fulbright Australia

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This legal update is an overview of existing eligible project activities and new project types proposed to be developed.

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Introduction

The results of the second auction under the Emissions Reduction Fund (ERF) were announced earlier today. The total volume of abatement contracted to be purchased by the Clean Energy Regulator (Regulator) was 45 million tonnes of CO2-e (or 45 million Australian Carbon Credit Units) at an average weighted price of $12.25 per tonne. This volume will be produced by 131 projects, including traditional Carbon Farming Initiative land based projects (such as plantations, revegetation and savannah burning) and new project activities in the energy efficiency, commercial building, industrial and transport sectors. Further information about the results from the second auction can be found here.

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