Amendments made to the legislation originally passed by the House of Representatives include:
- increasing the standard contract duration to seven years
- options to extend crediting periods, and
- an increase in crediting periods for savanna burning projects.
For more information, please visit the Department of the Environment’s website.
The Clean Energy Regulator will begin administering the scheme once legislative amendments commence and the necessary legislative rules are made. More information will be provided as these processes are finalised.
The Clean Energy Regulator will publish a series of guidance notes on the processes in the coming weeks, as well as rules for the auction process and advice on the date of the first auction.
The Emissions Reduction Fund is intended to make a substantial contribution towards Australia’s 2020 emissions reduction target by providing an incentive to businesses, households and landowners to proactively reduce their emissions.
Further information is available on the Department of the Environment’s website