Statement on the Emissions Reduction Fund White Paper

The Business Council of Australia welcomes the release of the Emissions Reduction Fund White Paper and the opportunity for further consultation on the design of the Australian Government’s policy.

“We are pleased to see a return to proper process in the design of Australia’s emissions reduction policy,” BCA Chief Executive Jennifer Westacott said.

“The BCA will review the white paper in detail and consult with our members, but we welcome the opportunity for business to have input into the design of the government’s Direct Action policy.

“The proposed scheme has a number of important features such as the principle of lowest cost emissions reduction, keeping the door open on longer-term contracts and the commitment to minimising the compliance burden for industry by building on aspects of the existing institutional and reporting arrangements.

“The consultation process around safeguards is sensible and will allow time to consult to get the policy detail right.

“In its ongoing discussions the BCA will continue to advocate for access to a credible international permits system as it is the lowest cost option to meet the bipartisan commitment of reducing Australia’s emissions to at least 5 per cent below 2000 levels by 2020.

“The BCA is concerned about the inclusion of a make-good provision in the presence of an effective due diligence process. There should also be a renewed commitment at next week’s Environment Ministers meeting to removing duplicative state-based energy efficiency schemes.

“What remains essential as the first priority is to remove the carbon tax and remove the burden on business, and then focus on the design of the government’s emissions reduction policy.

“Getting the design of Australia’s emissions reduction policy right is vital if we are to underpin the competitiveness of the Australian economy, and the government’s commitment to further detailed consultation will be essential to this,” Ms Westacott said.

For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2603 | Mobile 0403 241 128