Safeguard Mechanism (Crediting) Amendment Act 2023 (14 of 2023)

Schedule 1   Safeguard mechanism

Part 2A   Amendment of the Climate Change Act 2022

Climate Change Act 2022

66E   After subsection 14(1)

Insert:

(1A) Advice given to the Minister under subsection (1) must include advice about:

(a) whether safeguard emissions and net safeguard emissions for the financial year to which the annual climate change statement relates are declining consistently with each of the safeguard outcomes in paragraphs 3(2)(b), (c) and (d) of the National Greenhouse and Energy Reporting Act 2007, taking into account:

(i) the impact of any expanded designated large facilities, or new designated large facilities, for the financial year; and

(ii) the impact of any expected expanded designated large facilities, or expected new designated large facilities, for future financial years; and

(iii) any emissions estimates that are given to the Climate Change Authority under section 15A of this Act; and

(b) if safeguard emissions, or net safeguard emissions, for the financial year are not so declining - whether any amendments to the safeguard rules are needed in order to achieve each of those safeguard outcomes.