RepuTex has today released its submission to the Department of Climate Change, Energy, the Environment and Water (DCCEEW) on proposed amendments to the Safeguard Mechanism.
The decision to implement an “industry average” or “site-specific” baseline framework represents a major crossroads for Safeguard policy design, and will have notable consequences for market development, beyond simply determining ‘how the emissions reduction obligation will be distributed’ between high emitting facilities.
In particuar, we believe that the implementation of an industry-average framework could risk the efficient development of Australia’s carbon market given below-baseline Safeguard Mechanism Credits (SMCs) would not initially represent 1 tonne of
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