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okay now we're looking at the
second part of the emissions trading scheme the impact of
business in Australia so earlier on we looked at the first part of the
risk management now we'll dogtail back in a little bit more on how
this sort of will go together
okay so what we need to look at now is the main question is how to
carbon proof or minimize the risk to our business
and the cost complaince of our business so
as with our normal qiuality, safety and environmental
risks we have to our business this puts another level onto
our reducing our risk management or our
the impact to our business that way so from
the emissions trading scheme the way that it's
it is managed the emissions trading scheme will run by itself
and there's
the recommendations will put be put in by the Climate Change Authority so
the Climate Change Authority is more of the
their advisory body to
to the government for
the reduction of emissions so they're gonna
review the targets and see how close we go to our 2020 emissions target
which goes back to the the commitment we made to the
United Nations to reduce our limits
now the thing out of that that's supposed to
they're gonna put out a report in February for
their target for the reduction of emissions
so let's have a little bit of a look on what we need to do so they're gonna
recommend the caps for the first
five years and then and the trading of the carbon pricing mechanism
now part of their
dear or dear
part of what they're gonna do
is looking at that compare that to what we do for
the United Nations as part of our reduction strategy we said we're supposed
to reduce our emissions by
5% and 20% by 2020
so
where we're looking at before the report is due to be released
by February 2015 so we'll have to be careful to
keep an eye on that to see how that will go, we got a pretty good idea on how
that will work but we'll see what happens from there
so underneath what we do with the United Nations
global compact we do an annual report
to the United Nations they review that
to make sure that we're being a responsible business in carrying on with
our business operations and trying to reduce the impact
to our business so if we're looking at
what the Climate Change Authority will do they'll look at what we're
doing against the United Nations and then make recommendations for
the lowering of the emissions threshold
which we'll look at in part 3 so let's look at the
the types of legislation that's gonna be ammended under the
new ETS so we've got the
Climate Change Authority Act 2011 so that's where the
Climate Change Authority come into play the
energy security fund so that's part of the the funding for
funding all the green projects to reduce our impact so
more the clean energy so that's underpinned by
that Clean Energy Act. Now from
the impact of these 3 from here we'll see now
is gonna affect the Fuel Tax Act so there's gonna be some changes to that
as well as the the tariffs so this is where all the fuels and every come in we're just gonna
be impacted on and also from
this part here is...that'll go down onto the clean energy bill 2012
and also when we're talking about the
registry of units so that's where the
Australian units can be registered on a
the Australian register and there's also an international register for the different
types of credits so the BTS and stuff like that
okay and then the excise
tariff of 1921 that's another one that's going to be
affected which will dogtail into all these other sections so
when they say we're just gonna take a little bit out and we're gonna change the
carbon tax and they're not gonna do that they're gonna pull the carbon tax
out of the legislation, that's fine, but then they're gonnna go ran straight to the ETS so
that's where we're saying we're going to the red Commodore