Government has announced that it will review the
operation of the Safeguard Mechanism with a view to reducing
greenhouse gas emissions from Australia's highest emitting
facilities.
Comments on the discussion paper are due by 20 September
2022, with key issues in the discussion paper being calculation of
baselines, the use of crediting mechanisms.
Snapshot
- The Safeguard Mechanism Reforms: Consultation Paper has been
released for public consultation until 20 September 2022. A more
detailed framework will be released later this year for further
consultation.
- The Safeguard Mechanism was established in 2016, and applies to
facilities that emit more than 100,000 tonnes of Scope 1 CO2-e
(which translates to about 215 facilities). The Safeguard Mechanism
was designed to limit the emissions from those facilities.
