Government seeking submissions on draft ERF safeguard mechanism rules & regulations

The Government is calling for submissions on the proposed rules and regulations for the Emissions Reduction Fund (ERF) safeguard mechanism.

The safeguard mechanism has been designed to ensure that emissions reductions purchased by the Government are not displaced by significant increases in emissions above business-as-usual levels elsewhere in the economy.

The Department of the Environment has released exposure draft legislative instruments and associated explanatory statements which include feedback from businesses and community groups on the consultation paper released in March 2015. The Department has invited further comment from businesses and the community to finalise the arrangements of the safeguard mechanism.

Submissions about the drafting of the safeguard mechanism regulations are due by 16 September 2015 and rules by 21 September 2015.

The Government is aiming to finalise the rules and regulations next month with the safeguard mechanism set to start on 1 July 2016.