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Second Reading Speeches

Carbon Farming Initiative Amendment Bill 2014

Type
Government
Portfolio
Environment
Originating house
House of Representatives
Status
Act
Parliament no
44

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Summary

Establishes the Emissions Reduction Fund to replace the carbon tax and provide a transition for the Carbon Farming Initiative by amending the:

Carbon Credits (Carbon Farming Initiative) Act 2011
to: provide for the Clean Energy Regulator to conduct auctions and enter into contracts to purchase emissions reductions; enable a broader range of emissions reduction projects to be approved; and amend the project eligibility criteria and processes for approving projects and crediting carbon credit units; and
Australian National Registry of Emissions Units Act 2011
,
Clean Energy Regulator Act 2011
and
National Greenhouse Energy and Reporting Act 2007
to make consequential amendments. Also provides for transitional arrangements in relation to: the Register of Offsets Projects, which will be renamed the Emissions Reduction Fund Register and will include information about contracts to purchase emissions reductions; and existing Carbon Farming Initiative projects and methodologies and applications for new projects.