The safeguard mechanism commenced on 1 July 2016, with the first reporting period ending 30 June 2017. Emissions were reported to the Clean Energy Regulator as part of the National Greenhouse and Energy Reporting scheme on 31 October 2017. Responsible emitters had until 28 February 2018 to surrender Australian carbon credit units (ACCUs) if their emissions were above their baseline.
The Clean Energy Regulator is required to publish information about all large facilities with emissions over 100 000 tonnes of carbon dioxide equivalent (CO2-e) for each reporting year.
As at 31 October 2017, there were 154 responsible emitters identified with one or more large facilities, resulting in 203 facilities having legislated obligations under the safeguard mechanism for the 2016–17 reporting year.
Clean Energy Regulator Chair David Parker announced today that all responsible emitters have met their requirements in the first full year of the safeguard mechanism.
“We were very pleased with this year’s results. A hundred percent compliance demonstrates that all emitters are taking their responsibilities seriously, and are prepared to use the management options available to keep their emissions below their baseline within the legislated timeframes,” Mr Parker said.
Facilities who reported emissions above their baseline had a range of options to meet their obligations under the safeguard mechanism including applying for a calculated baseline, baseline variation or multi-year monitoring period, or surrendering ACCUs to offset their emissions.
“This result demonstrates that the safeguard mechanism is working as intended, that these emitters understand their obligations, and were able to obtain sufficient ACCUs generated through the Emissions Reduction Fund,” Mr Parker said.
“This has set a good precedent for future years and we will continue to work with facilities to ensure they are ready for the next reporting period.”
About the safeguard mechanism
Together with the National Greenhouse and Energy Reporting Act 2007, the safeguard mechanism provides a framework for Australia’s largest emitters to measure, report and manage their emissions. It gives businesses a legislated obligation to keep net emissions below their baseline. Baselines are intended to accommodate business growth and allow businesses to continue normal operations.
The Clean Energy Regulator publishes a list of facilities, responsible emitters and baselines, these can be found in the Safeguard baselines table on its website.
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