Carbon Articles
Baker & McKenzie have created an excellent guide to the United Nations’ Clean Development Mechanism (CDM) called the CDM Rulebook. Under the CDM, participants can create Certified Emission Reduction certificates (CERs). CERs are of interest to Australian energy markets participants due to inclusion of some types of CERs in the Carbon Pollution Reduction Scheme (CPRS) white paper.
Baker & McKenzie have also created the JI Rulebook to explain the Joint Implementation (JI) mechanism. ERUs created under JI are also linked to the CPRS scheme.
On 1 July 2009, the NSW Energy Savings Scheme (ESS) commences operation. Formerly known as the NSW Energy Efficiency Target (NEET), the new scheme will run in parallel to the Federal Government’s Carbon Pollution Reduction Scheme (CPRS). The existing NSW Greenhouse Gas Reduction Scheme (GGAS) covers demand side abatement, however GGAS will be phased out at the beginning of CPRS. The Energy Savings Scheme continues coverage of demand side abatement in parallel with CPRS.
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The Australian Federal Government’s Carbon Pollution Reduction Scheme (CPRS) is currently scheduled to begin on 1st July, 2011. Originally slated for 1st July 2010, the scheme was delayed on 4th May 2009, along with a number of other changes.
On 15th December 2008, the Federal Government released the CPRS white paper, and on 10 March, 2009 posted the draft legislation.
