The Carbon Market Institute has launched a new guide to assist businesses in Australia’s new compliance carbon market.
Australia’s Clean Energy Legislative Package: A Guide for Business is a comprehensive guide designed to inform and educate businesses about how the scheme operates and what it will mean for different scheme participants.
“Businesses are more likely to achieve the best outcomes from a national carbon price mechanism if they have a solid understanding of the content of the scheme and are able to easily navigate their way around the Legislative Package that underpins the scheme,” says Carbon Market Institute executive director Mike Tournier.
“The more informed businesses are about the scheme, the better their business decisions.”
The carbon price mechanism and accompanying legislation establishes a carbon price by way of an emissions trading scheme similar to that in Europe and New Zealand.
It provides incentives for companies to minimize carbon consumption.
“A thorough understanding of the relevant implications of the legislation will enable an organisation to develop the most appropriate strategy to respond to the changes,” says Tournier.
“In the worst case, failing to do this may result in unexpected and undesirable impacts on the financial and market position and performance of an organisation.”
The CMI Guide is authored by leading climate change lawyers Baker & McKenzie, led by Martijn Wilder, head of the firm’s Global Environmental Markets and Climate Change practice.
Australia’s Clean Energy Legislative Package: A Guide for Business is available at: www.carbonmarketinstitute.org.