Policy paper released

The Australian Government is a step closer to establishing a national emissions trading scheme with the release of a policy paper on mandatory corporate reporting of energy and greenhouse gas emissions data.

Minister for Climate Change and Water, Senator Penny Wong said the release of the National Greenhouse and Energy Reporting System, Regulations Policy Paper was the next important step in creating a national framework for corporations to report greenhouse gas emissions and actions to reduce emissions.

“The new national reporting system will provide the data needed to underpin Australia’s national emissions trading scheme, which is a major part of the Australian Government’s commitment to action on climate change,” Wong said.

The policy paper outlines proposed approaches to detailed reporting requirements including the scope of data subject to mandatory reporting, detailed definitions of terms such as facilities and emissions, registration and deregistration information, as well as reporting requirements for greenhouse gas offsets, and actions to reduce or remove emissions.

Eligible Australian corporations will be required to report on their emissions and energy for the 2008–09 financial year, with the first reports submitted by 31 October 2009.

“Consultation is a key part of this process. I encourage interested individuals and organisations to provide feedback on the proposals presented,”Wong said.

Interested individuals and organisations are asked to submit their views on the proposals presented in the policy paper by 27 February 2008.