Date posted: 23/09/2022

Australian Government consults on safeguard mechanism reforms

CA ANZ and CPA Australia provide joint response to the Department of Climate change, Energy, the Environment and Water

In brief

  • Our focus is from the vantage point of where the accounting profession can add value.
  • It will be important for Government to consider a broader balance industrial transformation approach.
  • To remain internationally competitive any transition approach should be clear, apolitical and communicated.

CPA Australia and CA ANZ have responded to the Department of Climate Change, Energy, the Environment and Water’s consultation paper on safeguard mechanism reforms. In our response we have focused our responses to what would fall within our areas of expertise and broader purview.

It will be important for creditable data to underpin the safeguard mechanism and we encourage that consideration is given to re-introducing a requirement for independent assurance of GHG emissions reported by facilities.