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The Clean Energy Regulator will judiciously apply our knowledge and experience to adapt our approach in line with the objectives of the schemes we administer. Our approach to scheme administration and regulation is informed by our regulatory posture, our education, enforcement and compliance strategy and our risk appetite.
The Clean Energy Regulator has a diverse range of engagement, education, compliance and enforcement tools at its disposal to administer its schemes, encourage voluntary participation and optimise compliance.
We monitor clients' and participants' ability and willingness to meet their obligations under the legislation, using a risk-based approach to detect non-compliance and encourage compliance. Our approach is based on:
In 2016–17 the Clean Energy Regulator will enhance its compliance capability by appointing a compliance strategist. This will allow for the development of compliance strategies that are consistent across all schemes and with our objectives and approach. A holistic approach will allow the Clean Energy Regulator to monitor indicators for the early detection of scheme fraud and effectively address or reduce the possibility of exploitation.
The Clean Energy Regulator's strong working relationships with its regulatory partners and other Commonwealth agencies are vital to its ability to build a complete compliance picture. The agency will build on and maintain these partnerships to further improve communication and ensure timely, reliable information sharing.
The Clean Energy Regulator has a finite resource base within which we must manage material risks. We are discerning risk takers and use our knowledge and evidence to inform our decisions, processes and engagement. We learn from our experiences and we adjust our controls accordingly.
Our risk appetite statement articulates the level of risk consequence the agency is willing to accept in pursuing its purpose and objectives. The statement establishes a common understanding and has enabled us to streamline regulatory processes across and within schemes, target resources towards areas of highest regulatory risk, reduce compliance obligations on low-risk stakeholders, and achieve organisational efficiencies.
Regulatory officer development training has assisted to embed an understanding of risk and how to apply it to the decisions we make. A summary of the Clean Energy Regulator's risk appetite statement is set out below:
The key strategic risks identified as most likely to affect our ability to realise our purpose and objectives are:
The Clean Energy Regulator's strategic and operational risks are actively monitored and reported through the agency's performance reporting framework and are complemented by a robust fraud control plan and business continuity management plan.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.