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Current state analysis

Strategic risks

A risk-based approach underpins the delivery of all government services and the implementation of policy initiatives. The Clean Energy Regulator will achieve this through the design and implementation of a Risk Management Framework that is proactive, systematic, transparent and structured in its approach to managing risk.

Communication and consultation with external and internal stakeholders should take place during all stages of the risk management process and accordingly, plans should be developed at an early stage. All organisational decisions are to incorporate and reflect an objective assessment of the risks and opportunities that might arise in relation to each option put forward as part of the analysis.

The agency has identified six strategic risks which align with the objectives of the Clean Energy Regulator (discussed in detail in the Strategic Objective section):

  1. Regulated entities do not meet their obligations.
  2. The integrity of the financial instruments and client data is not protected.
  3. The agency's services are not supported by a culture of integrity and performance.
  4. Client engagement does not build confidence in the market.
  5. The Regulator's decisions are not sufficiently robust to withstand external scrutiny.
  6. The agency does not establish effective corporate policies, infrastructure and governance arrangements.

Measures of success

The Clean Energy Regulator will be successful if there is demonstrated evidence that Australia is effectively transitioning to a low carbon economy and that the mechanisms administered by the Clean Energy Regulator have contributed to this transition. The Clean Energy Regulator's performance and planning frameworks have a strong emphasis on reporting in a structured and valuable manner, detailing the progress being made in the delivery of its objectives.

The reporting approach, which includes the monthly production of an organisational performance report, generates information that is valuable for both internal and external performance management needs. The data and performance metrics are reported to the Minister on a quarterly basis, demonstrating the steps being taken to meet the Clean Energy Regulator's responsibilities and realise its vision.

Planned outcomes for 2015

  • Stakeholders and clients regard the Clean Energy Regulator as an important institution relevant to economic performance.
  • The Clean Energy Regulator has transitioned from a mechanistic and prescriptive approach to one that is outcomes focused and intelligence-led.
  • The Clean Energy Regulator's operations are streamlined, reducing compliance costs and controlling risk.
  • The carbon market is operating effectively, based on:
    • a market price for carbon that is trusted and enables investment
    • published information that enables clients to understand how to operate in the market while secondary impacts are managed, and
    • a working link that enables international activity.

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