The submission has been drafted in consultation with a number of staff from member companies and the Sustainable Growth Task Force.
The submission calls for additional safeguards to be included in the legislation so as to allow for the modification of the pricing mechanism (emissions trading scheme) to address the risks associated with global and domestic economic cycles and the limited progress in negotiations to achieve a binding international agreement.
In particular, the submission discusses aspects of the governance structure such as setting targets and caps, the environment needed for long term investment and arrangements for the trade-exposed industries and electricity sector.
The BCA is currently preparing a further paper considering the Treasury modelling, household assistance package and other elements of the government’s Clean Energy Future package. It is expected this paper will be released next month.
Read or download the BCA Submission to the Department of Climate Change and Energy Efficiency on the Clean Energy Legislative Package using the link below.
In September 2011 the BCA made a submission to the Joint Select Committee Inquiry into Australia’s Clean Energy Future.