Submission to: Senate Standing Committee on Environment and Communications – Inquiry into the safeguard Mechanism (crediting) Amendment Bill 2022

15.02.23 By
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Summary of recommendations:

In this submission, Climate Council has discussed essential improvements to the Australian Government’s proposed policy settings for the Safeguard Mechanism as outlined in the Department of Climate Change, Energy, the Environment and Water Position Paper of 10 January 2023. 

We have also outlined specific opportunities to strengthen the Safeguard Mechanism (Crediting) Amendment Bill 2022 to give effect to these improvements. Further context and discussion of these recommendations is provided throughout this submission.   

Policy recommendations

Climate Council recommends the draft Safeguard Mechanism settings released by the Australian Government be updated to clarify that:

Bill recommendations 

Climate Council recommends the Safeguard Mechanism (Crediting) Amendment Bill 2022 be amended to make further updates to several sections of the National Greenhouse and Energy Reporting Act 2007 – and any necessary consequential sections – to achieve the following objectives: 

1. Section 21 – require covered facilities to make reports to the Regulator about their emissions reduced and removed through onsite projects and/or active investment in research and development and pilots of technology changes to achieve this in future. 

2. Sections 22XK and Section 22XM

Submission to: Senate standing committee on Environment and Communications - Inquiry into the safeguard mechanism crediting amendment bill 2022