It is with pleasure I present the 2016–17 Annual Report for the Clean Energy Regulator that covers the achievements and outcomes of the past year.
The agency is well respected by stakeholders, clients and government. This is largely due to the stewardship of my predecessor Chloe Munro, and the hard work and dedication of the agency’s employees.
I would also like to acknowledge Jody Swirepik, who ably led the agency in the interim of Chloe’s departure and my arrival.
2016–17 has been a year of delivery. Each of the schemes we administer – the Emissions Reduction Fund, Renewable Energy Target and National Greenhouse and Energy Reporting scheme – is in a transition.
Investment in renewable energy is at an all-time high and the Large-scale Renewable Energy Target of 33,000 gigawatt hours by 2020 is likely to be met. The Emissions Reduction Fund, after three years of operation, has supported a carbon abatement industry and, with more than 300 projects being issued with Australian carbon credit units this year, is attracting international interest. The National Greenhouse and Energy Reporting data underpinned the development of the safeguard mechanism baselines.
The maturity of our schemes mean we have been processing more transactions and are sharpening the focus on compliance. For the first time, we have published our compliance priorities on our website.
A number of reviews related to our business began in 2016–17. We contributed staff and skills to the Independent Review into Future Security of the National Electricity Market, the Department of the Environment and Energy’s climate policy review and the Climate Change Authority’s review of the Carbon Credits (Carbon Farming Initiative) Act 2011.
Our focus on delivery against objectives will continue. This means we have the capacity to deliver the objectives of new government carbon abatement programs. We have a highly skilled and agile workforce that has a proven track record in policy implementation. We have established systems and processes for reporting, auditing and crediting. We have good working relationships with our clients and an understanding of their business needs.
As an economic regulator, we look for what is best for our clients to achieve compliance with our schemes. Policy stability will deliver the foundation for long-term engagement in carbon abatement schemes.
I look forward to the year ahead, and the challenges and opportunities it will bring for the agency. It is an honour to lead an agency widely respected in industry and government, and to work alongside colleagues of such experience and skill.
David Parker AMChair, Clean Energy Regulator (from 3 July 2017)
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.