The Australian Government has taken two further, significant
steps towards readying itself for the commencement of an emissions
trading scheme and to facilitate participation in the global carbon
On 30 September 2009, the Government established the Australian
National Registry of Emissions Units (ANREU) and
the Australian National Authority (ANA), discussed
in more detail below.
Australian National Registry
Under the Kyoto Protocol, Australia is required to establish a
registry that tracks holdings and transfers of the various forms of
international carbon units defined under the Kyoto Protocol. The
establishment of the ANREU fulfils this obligation and will enable
organisations or individuals wishing to hold Kyoto units in
Australia to do so. Until now, organisations wanting to trade in
international Kyoto units were obliged to establish accounts with
registries in countries such as Switzerland or the UK.
The ANREU links with the international carbon market through the
International Transaction Log, which verifies the validity of
transactions of Kyoto units including issuance, transfer, and
acquisition between registries.
Carbon Pollution Reduction Scheme (CPRS)
The Registry will also be a crucial piece of infrastructure once
the CPRS is introduced.
Any business, organisation or individual holding or trading CPRS
compliance permits will need to apply to the ANREU to open an
online account in the Registry. These compliance permits can either
be Australian emission units or eligible Kyoto units. The proposed
Australian Climate Change Regulatory Authority will use the
Registry to confirm that entities have met their CPRS
Certain information recorded in the online Registry will be
publicly available, including details of the name and address of
each account holder.
Australia's National Authority for Clean Development
Mechanism (CDM) and Joint Implementation (JI)
Internationally agreed rules under the Kyoto Protocol provide
that countries participating in the CDM (projects carried out in
developing countries) and JI (projects carried out in developed
"Annex I" countries) must establish a Designated National
Authority (DNA) and Designated Focal Point
(DFP) to approve private entities'
participation in CDM and JI projects respectively.
Australia's DNA and DFP are grouped into a single body
within the Department of Climate Change called Australia's
National Authority for the CDM and JI. Any entity that holds an
account in the ANREU is eligible to apply for a CDM or JI Letter of
Approval from Australia's National Authority. The Government
has published guidelines and procedures for approving participation
in CDM and JI projects, available on the Department's website,
which indicate that Letters of Approval will be issued within 14
days of receiving a completed application.
There is a relatively limited role for JI in Australia in the
short term, given that the Australian Government has decided that
Australia will not be hosting JI projects in the first commitment
period of the Kyoto Protocol (2008-2012). The Government has also
decided that Australia will not host JI projects in sectors covered
by the CPRS, and will decide in 2013 whether to host JI projects in
Tracking International Climate Change Negotiations
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