As we countdown to the second Emissions Reduction Fund auction next month, the Australian Government is today announcing plans to develop new methodologies that will create additional opportunities to participate in future auctions.
This work will build on the success to date of the Emissions Reduction Fund in helping to meet and beat Australia’s 2020 target and in working towards our 26-28 per cent 2030 target.
Already a broad range of methods are available providing opportunities for Australian businesses across the economy, and more than 500 projects are already registered.
Activities that will be considered for potential method development may provide further opportunities for participation in the Fund across the agriculture, energy efficiency, industrial processes, transport, vegetation and waste sectors.
Examples of activities include those that improve the energy efficiency performance of existing public buildings, schools, hospitals and retirement villages, and energy efficiency improvements to pumping systems used in operations such as food manufacturing, minerals processing and agriculture.
The priorities have been determined to ensure that activities offer the greatest opportunity for uptake and genuine abatement. Priority activities are identified annually to provide a forward work plan for method scoping and development.
The list of priority activities and information on methods currently under development is available on the Department of the Environment’s website at: http://www.environment.gov.au/climate-change/emissions-reduction-fund/methods/method-development
The list of priority activities has been developed in consultation with technical working groups, the public and the independent Emissions Reduction Assurance Committee.
Emissions reduction methods set out the rules for carrying out projects and estimating emissions reductions from proposed activities.
To apply for an for emissions reduction project, go to www.cleanenergyregulator.gov.au
The first Emissions Reduction Fund auction contracted 47 million tonnes of abatement. The second auction will be held 4-5 November.
Further information is available online at: environment.gov.au/emissions-reduction-fund