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Objective two

 

Integrity of the instruments (units)

The carbon pricing mechanism, the Carbon Farming Initiative and the Renewable Energy Target are all market-based instruments which operate through the issuance, trade and surrender of units of various types. A full spectrum of education, compliance and enforcement measures has been deployed over many years to protect the integrity of the renewable energy certificates. A similar range of measures is being deployed with respect to carbon units. This includes assisting clients in the protection of their property through education and guidance around integrity, security and due diligence.

The Clean Energy Regulator's internal control systems also play an important role in protecting the integrity of the instruments. The Clean Energy Regulator understands the need to achieve the highest standards of security, which is why its staff are provided with the right tools and information, so as to be vigilant about the security of the agency's premises, systems and the information it holds.

The Clean Energy Regulator has established relationships with a range of Commonwealth and State agencies. By regularly sharing information between agencies, the Clean Energy Regulator can ensure that inappropriate behaviour, such as scams and unregulated financial advice, is quickly brought to heel before the reputation of the instrument is damaged.

The Clean Energy Regulator will continue to build strategic alliances to safeguard the integrity of the instruments, including with relevant agencies overseas, in anticipation of international linking.

Each of these elements, correctly implemented, contributes to the integrity of the Clean Energy Regulator's schemes and the units that are created within them.

DescriptionGoalsStrategy

Protect the integrity of instruments (units)

The Clean Energy Regulator will:

  • ensure that units created under the administered schemes are priced and used correctly
  • collect complete and accurate data
  • implement a robust registry that meets international security and anti-fraud requirements and standards, and
  • ensure a robust internal control environment that mitigates operational risks.

The Clean Energy Regulator will achieve these goals and deliver on this expectation, by:

  1. providing accurate and timely information to the market
  2. maintaining secure IT and business systems
  3. effectively controlling and managing internal and external access to information, and
  4. educating staff about internal and legislative frameworks and controls.
 

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