Safeguard Mechanism: remaining default emissions intensity values

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Overview

We are consulting on the National Greenhouse Energy Reporting (Safeguard Mechanism) Amendment (Default Emissions Intensities) Rule 2022.

The Safeguard Mechanism legislates emissions limits (known as baselines) for facilities that emit more than 100,000 tonnes of carbon dioxide equivalent each year.

The Safeguard Rule was amended in March 2019 to allow businesses to use government-determined production variables and emissions intensity values (together called ‘default values’) when applying to the Clean Energy Regulator to set their baselines.

The majority of default emissions intensity values were included in schedules 2 and 3 of the Safeguard Rule in March 2020.

The amendment:

sets the remaining default emissions intensity values
makes a minor change to the petroleum refining production variable. This aligns the variable with the original intent of the activity’s definition under the Renewable Energy Target.

This amendment rule is intended to complete the process of updating the Safeguard Rule in line with the March 2019 amendments. The current amendments will not impact the planned reforms to the Safeguard Mechanism as announced by the government, including declining baselines. The announced reforms will be subject to a separate consultation process. The first public consultation paper on the reforms is planned for August 2022.