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The Regulator

 

A body corporate, known as the Regulator, is responsible for decision-making under the schemes which the Clean Energy Regulator administers, and guides the Clean Energy Regulator’s strategic direction and objectives.

Members of the Regulator

Members of the Regulator are appointed by the responsible minister under the Clean Energy Regulator Act 2011, and are required to have substantial experience or knowledge in fields relevant to the Clean Energy Regulator. The Chair holds office on a full-time basis. All other Members hold office on a part-time basis.

At 30 June 2014, the Regulator had five Members, including the Chair. The appointments of Ms Chloe Munro (Chair) and Dr Michael Sargent commenced on 2 April 2012; Ms Anne T Brown and Ms Virginia Malley were appointed on 4 June 2012; and Mr Michael D’Ascenzo was appointed on 2 April 2013.

In addition to their collective responsibilities, Members of the Regulator each apply their expertise to a specific area of focus. This adds depth to the Regulator’s appreciation of its operating environment and enables agency officers to draw directly on Members’ knowledge and experience. Members provide an update on their area of focus at each Regulator meeting.

Ms Chloe Munro

Ms Chloe Munro

Chair

Ms Munro has had a distinguished career in the public and private sectors, with particular expertise in infrastructure and resources. Prior to her appointment as the Chair and Chief Executive Officer of the Clean Energy Regulator, Ms Munro was the Chair of the National Water Commission; the independent non-executive Chairman of AquaSure, the consortium building Victoria’s desalination plant; and a non-executive director of Hydro Tasmania.

From February 2004 until July 2009, Ms Munro was an executive director of Telstra. She held leadership positions in human resources, business operations, information technology, public policy and communications, and customer service.

Ms Munro served in the Victorian public sector from 1996 to 2004, in the positions of Secretary of the Department of Primary Industries, Secretary of the Department of Natural Resources and Environment, and Deputy Secretary of the Department of Treasury and Finance. In the Department of Treasury and Finance, she headed the division implementing Victoria’s energy reform and privatisation programme.

Early in her career she worked in the public, private and not-for-profit sectors in Kenya, New Zealand and the United Kingdom.

Ms Munro holds master’s degrees in mathematics and philosophy from Cambridge University and in business administration from the University of Westminster. She is a Fellow of the Australian Academy of Technological Sciences and Engineering and the Institute of Public Administration Australia and was awarded a Centenary Medal for outstanding contribution to public administration in 2001.

Ms Anne T Brown

Ms Anne T Brown

Member Profile

Ms Brown has substantial knowledge and practical experience of Australian and international exchange-traded financial markets, risk management, related infrastructure and regulatory environments.

Ms Brown is a non-executive director of the Australian Design Alliance and a member of the Australian Securities and Investments Commission’s Markets Disciplinary Panel, the independent peer review forum which takes disciplinary action against participants and market operators for breaches of the Australian Market Integrity Rules.

Ms Brown was previously Chief Risk Officer with ASX Limited from 2006 to 2010, following its merger with SFE Corporation Limited. Her role included group executive responsibilities for enterprise-wide risk management, compliance and audit. She chaired a number of broader group executive committees and developed integration strategy, risk management and policy development and execution for ASX’s two central counterparty clearing houses.

Ms Brown represented ASX from 2008 to 2010 as the Chair and executive committee member of CCP12, an influential global industry association involving all major international clearing houses. Prior to the ASX–SFE merger, Ms Brown was a general manager with SFE.

Ms Brown holds a degree in accountancy and computer science from Heriot-Watt University, Edinburgh. She is a member of the Institute of Chartered Accountants of Scotland and a graduate member of the Australian Institute of Company Directors.

Area of focus

As a member of the Clean Energy Regulator Audit Committee, Ms Brown focuses on independent assurance of the agency’s operations. Ms Brown ensures that other Members are kept informed about matters relevant to the Audit Committee, including the progress of internal audits, the development of the agency’s risk management framework, and activities of the Australian National Audit Office that have an impact on the Clean Energy Regulator.

Mr Michael D’Ascenzo AO

Mr Michael D’Ascenzo AO

Member Profile

Mr D’Ascenzo is recognised internationally for his leadership and expertise in administration, strategy and governance, and for his technical and design skills in tax law and superannuation.

Mr D’Ascenzo is a member of the Foreign Investment Review Board and is on the International Monetary Fund’s panel of experts. He is a non-executive director of Australia Post, an adjunct professor of the University of New South Wales and a professorial fellow of Melbourne University.

Mr D’Ascenzo’s previous roles include Commissioner of Taxation (from 2006 to 2012) and vice-chair of the Organisation for Economic Co-operation and Development’s Forum on Tax Administration.

Mr D’Ascenzo holds degrees in economics and law from the Australian National University. He is also a graduate of the Harvard Business School Program for Management Development, the Australian Institute of Company Directors, and the University of Cambridge Programme for Sustainability Leadership. He is a member of the Institute of Chartered Accountants Australia, honorary life member of CPA Australia, Fellow of the Australian Institute of Company Directors, and Honorary Fellow of the Association of Taxation and Management Accountants.

In 2010, Mr D’Ascenzo was appointed an Officer of the Order of Australia for service to public administration, particularly through reform and innovative engagement with the taxation profession and government agencies. In 2012, he was named the Institute of Chartered Accountants Australia’s Federal Government Leader of the Year.

Area of focus

Mr D’Ascenzo focuses on compliance and enforcement under the schemes administered by the Clean Energy Regulator. In particular, Mr D’Ascenzo focuses on the integration and effectiveness of the Clean Energy Regulator’s intelligence and compliance capabilities. In addition, Mr D’Ascenzo is a member of the joint agency steering committee in relation to the Emissions Reduction Fund.

Ms Virginia Malley

Ms Virginia Malley

Member Profile

Ms Malley has 27 years’ experience in the investment and banking sectors, including 14 years’ experience as a company director. Her areas of expertise are regulatory compliance, financial and environmental markets, risk management, corporate governance, custody and trusteeship.

Ms Malley is a non-executive director of Perpetual Superannuation Limited; a member of several Perpetual compliance committees and the Sydney Airport Trust Compliance Committee; and a director of the Nature Conservation Trust of New South Wales.

Ms Malley was previously the Chief Risk Officer at Macquarie Funds Management Group, and a member of a number of committees at Macquarie, with focuses on clean technology, the Asia Pacific, private equity and global advisory investment. She also served on the boards of Macquarie Investment Management Limited and Bond Street Custodians Limited and was a member-elected trustee of the Macquarie Bank Staff Superannuation Fund. She oversaw the risk management of portfolios, worth more than $85 billion, investing in clean technologies, publicly traded debt securities, listed equities, derivatives, currencies and private equity. She also managed industry regulator and ratings agency relationships.

Ms Malley is a graduate of the Australian Institute of Company Directors. She holds a Bachelor of Arts and a Master of Applied Finance from Macquarie University, a Graduate Diploma in Environmental Law from the University of Sydney, and a Juris Doctor from the University of Technology, Sydney.

Area of focus

Ms Malley focuses on the development and operation of the carbon market. This requires consideration of activities in both the primary and secondary markets. Through observation of market activities and liaison with the Clean Energy Regulator’s stakeholders, including liable entities, secondary market participants and brokers, Ms Malley strengthens the Clean Energy Regulator Members’ understanding of the dynamics of the carbon market.

Dr Michael Sargent AM

Dr Michael Sargent AM

Member Profile

Dr Sargent has more than 50 years’ experience in the energy and utility industries in Australia, Canada and the United States.

Dr Sargent is Chair of Epicorp Seed Fund Pty Ltd, Deputy Chairman of Epicorp Limited, and a member of the Australian Renewable Energy Agency Advisory Panel. His previous roles include Chief Executive of Transfield Services Energy Group and Chief Executive Officer of ACTEW Corporation. Until recently, he was a director of the Australian Solar Institute and the Australian Energy Market Operator.

Dr Sargent is active in professional and community matters. He is a director of the National Heart Foundation ACT and a past president of the Institution of Engineers Australia.

Dr Sargent holds a degree in electrical engineering and a Doctor of Philosophy from the University of Queensland. In recognition of his service to engineering he was made a Member of the Order of Australia in 1993 and was awarded a Centenary Medal in 2003.

Area of focus

Dr Sargent’s area of focus is renewable technology and the market for renewable energy. In addition to closely observing the national electricity market, Dr Sargent monitors trends in renewable technology and investment, both in Australia and globally. Dr Sargent keeps Members informed regarding developments in wind and solar technology and market interest in biofuels, as well as trends in the National Electricity Market.

Regulator meetings

Under the Clean Energy Regulator Act 2011, the Chair of the Regulator may convene a meeting at any time. Between 1 July 2013 and 30 June 2014, the Regulator met on ten occasions, as shown in Table 2.2.

Table 2.2: Meetings of the Regulator in 2013–14
Meeting dateMeeting apologies
9 July 2013Ms Chloe Munro and Ms Anne T Brown
6 August 2013Dr Michael Sargent
17 September 2013All Members attended
21 October 2013Mr Michael D'Ascenzo
4 December 2013All Members attended
4 February 2014All Members attended
18 March 2014All Members attended
29 April 2014Mr Michael D'Ascenzo
2 June 2014All Members attended
23 June 2014All Members attended

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