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Carbon Markets

BRIEFING: Review of Safeguard Mechanism preliminary data and national emissions projections

On Thursday, the Climate Change Authority (CCA) released its 2024-25 Safeguard Preliminary Insights report, as well as its 2025 Annual Progress Report. Both documents contain preliminary data around the 2024-25 compliance year of the Safeguard Mechanism, including data on the number of covered facilities, covered emissions, aggregate baselines, potential SMC issuance, and baseline exceedances.

Final and more comprehensive datasets will be released by the Clean Energy Regulator by 15 April 2026 and are expected to differ slightly from preliminary data.

The Department for Climate Change, Energy, the Environment, and Water (DCCEEW) also released its annual emissions projections report, forecasting national

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