Page 3055 - Week 08 - Thursday, 7 August 2008
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The ACT has already taken action in releasing the ACT climate change strategy, Weathering the Change, in July 2007. The strategy sets the approach the government will pursue between now and 2025 to support the broader community response to climate change.
One action that has been included in the first action plan is the continuation of the ACT greenhouse gas abatement scheme. The scheme was established in the ACT under the Electricity Greenhouse Gas Emissions Act 2004 and commenced on 1 January 2005. The ACT scheme mirrors the New South Wales greenhouse gas abatement scheme. The New South Wales and ACT schemes are in many respects operated as a single scheme. Both schemes are designed to reduce or offset greenhouse gas emissions associated with the production of electricity.
Under the act, the Independent Competition and Regulatory Commission is the scheme regulator in the ACT. One of the commission’s functions as a regulator is to determine the greenhouse gas reduction target or benchmark for the ACT in any given year. The scheme is designed to reduce or offset greenhouse gas emissions associated with production of electricity. It requires retailers of electricity in the ACT to procure an increasing component of their product from cleaner and greener means, thereby effecting large reductions in associated greenhouse gases.
Tackling our emissions from electricity use is key to reducing the ACT’s greenhouse gas emissions. The compliance of ACT retailers in 2005-06 achieved greenhouse gas emissions abatements of 316,000 and 207,000 tonnes respectively. This is the equivalent of the annual emissions produced by around 73,000 and 48,000 cars respectively.
In 2006 the ICRC recalculated the ACT’s percentage of the market. The result was a lower percentage than previously calculated, which, in turn, affected the benchmark level. In addition, the population grew by less than expected, which also affected the benchmark level.
In 2007 there were 17 entities licensed to sell electricity in the ACT. This report confirms that all but one retailer met their obligations under the scheme. A total of 403,000 certificates were surrendered under the scheme. This is the equivalent of the annual emissions produced by around 93,700 cars. This has been the most successful year of the scheme to date.
The greenhouse gas abatement scheme remains an effective greenhouse gas abatement measure for the territory. It is supported by the ACT climate change strategy and demonstrates how an interjurisdictional emissions trading scheme can work to reduce emissions.
Papers
Mr Stanhope presented the following papers:
Cultural Facilities Corporation Act, pursuant to subsection 15 (2)—Quarterly report 2007-2008—Third quarter (1 January to 31 March 2008).
Tabling statement, dated August 2008.
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