Edition 48, August 2007

Red tape cut for national greenhouse reporting

The Australian Government will invest $26.1 million over five years to set up a single, streamlined system for greenhouse and energy reporting by Australian companies. The new system will provide nationally consistent greenhouse gas emissions and energy data.

Around 700 companies will be required to provide detailed reports on their greenhouse gas emissions and energy use and production under the new system. This will improve the ability of governments and companies to monitor emissions and respond to the challenge of reducing emissions. 

Australian business can expect the duplications, red tape and cost burden of existing reporting requirements to be reduced through the new system. The system will also, for the first time, provide easily accessible company level information to investors and the general public on greenhouse gas emissions and energy use by Australia's major companies.

The Australian Government will continue to work with state and territory governments to ensure that the system meets their needs and delivers genuine reductions in red tape and costs to business. It is expected to be in place by July 2008 and will be consistent with the proposal agreed to by the Council of Australian Governments in April 2007, based on broad consultation with all levels of government and industry.  

Companies emitting more than 125,000 tonnes of greenhouse gases or using or producing more than 500 terajoules of energy will be required to report at the start of the new system, as will facilities emitting more than 25,000 tonnes of greenhouse gases or using or producing 100 terajoules of energy.

The threshold for companies will be phased down over time to 50,000 tonnes of greenhouse gases or 200 terajoules of energy used or produced, to allow smaller companies to prepare for their reporting requirements. The facility threshold will remain the same.

Further consultation with stakeholders about the new regulations will be held later in 2007.  

For more information visit www.greenhouse.gov.au/reporting

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