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.
| Description | Goals | Strategy |
|---|
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: - providing accurate and timely
information to the market
- maintaining secure IT and business
systems
- effectively controlling and managing
internal and external access to
information, and
- educating staff about internal and
legislative frameworks and controls.
|