The Federal Government has secured support from the Greens Party
on its push to amend safeguard mechanism provisions to further
manage emissions reported by the nation's largest emitters as
well as improve transparency regarding the impact of new projects,
expected to take effect 1 July 2023.
The safeguard mechanism currently operates to mandate that
facilities in Australia whose yearly carbon emissions exceed
100,000 tonnes measure, report and manage their carbon emissions
with a view to reduce Australia's carbon emissions by 43% by
2030. These measures work in tandem with reporting obligations
under the National Greenhouse Energy and Reporting Act
2007 (Cth) to require these large emitters to keep their
emissions at or below baseline levels set by the Clean Energy
Regulator.
