With the release of the Emissions Reduction Fund (ERF) Green Paper in December, the Australian Government has signalled its intention for the proposed ERF to be implemented through the existing CFI and Clean Energy Regulator administrative arrangements.
If these plans progress as intended this year, the CFI is likely to take centre stage in delivering carbon abatement to contribute to Australia’s emission reduction targets.
“As the CFI evolves and the market for Australian Carbon Credit Units matures, participants will need to know their legal rights and responsibilities. The Guide demystifies the complexity of the CFI legislation and draws on our own experiences of advising clients in developing and implementing CFI projects.” Elisa de Wit, leader of Norton Rose Fulbright’s Australian climate change practice said.
According to Norton Rose Fulbright, the Guide will play a key role in helping participants understand the CFI and maximise their commercial opportunities and environmental outcomes as the carbon policy landscape develops over the coming 12 months.
Part A delves into the legal considerations in planning, managing and owning a project as well as provides advice on complying with methodology determination.
Part B then looks at contract guidance, going into detail about using a contract that is "fit for purpose", understanding an ACCU Purchase agreement as well as providing insight into when and how to enter into an agreement.
“The Green Paper signals potential opportunities for a number of sectors to deliver carbon abatement through the ERF,” de Wit said.
“We recommend that businesses in these sectors monitor developments in the coming months and use the Guide to assess the commercial viability of any potential projects or aggregation opportunities.”
To support the launch of the Guide, Norton Rose Fulbright will be hosting a series of free workshops in capital cities around Australia:
• Sydney: Wednesday, February 26
• Melbourne: Thursday, February 27
• Brisbane: Thursday March 6
• Perth: Thursday March 13
• Adelaide: TBC
• Darwin: TBC
To attend a workshop, you may register your interest by emailing Leanne Currie at leanne.currie@nortonrosefulbright.com.
Norton Rose Fulbright received funding from the Federal government to develop the guide.
