David Johnston (WA, Liberal Party, Shadow Minister for Resources and Energy) Share this | Hansard source

On behalf of the opposition I want to put on the record the opposition’s position in respect of the National Greenhouse and Energy Reporting Amendment Bill 2008. It is a very technical bill. It has minor amendments that go to positively affecting the practical operation of the National Greenhouse and Energy Reporting Act 2007. The aims of the amendments are to simplify the reporting requirements of corporations by reducing red tape through the simplification of the regulatory burden and increased flexibility associated with the registration of corporations under the act. Needless to say, this act was enacted by the previous Howard government and these amendments are in fact in line with the evolution of this very important legislation as the foundation stone upon which the emissions trading scheme is to be built.

It also confirms that the obligation of a registered corporation to comply with an external audit extends also to the corporations group as a whole. It clarifies the provisions relating to the reporting of greenhouse gas projects and offsets of emissions. It gives greater power under the act for the government to make mandatory and separate public disclosure of direct and indirect greenhouse gas emissions. It confirms the ability of the minister to specify conditions for the use of alternative methods to calculate greenhouse gas emissions and to allow publication of information relating to those methods. It is a very difficult area for this legislation, but this is a step in the right direction.

I also simply add that, having said that it makes minor technical amendments, these amendments were in fact foreshadowed prior to the last election. Having put the reporting system in place, this is a preparatory framework which will ultimately assist both in monitoring Australia’s greenhouse emissions and allowing us to prepare in the most efficient and least disruptive way for an emissions trading scheme. In relation to this particular bill, I note that there are amendments here aimed at three things: firstly, simplifying, as I have said, the regulatory burden; secondly, confirming the obligation of a registered corporation to comply with an external audit extending over the corporations group; and, thirdly, clarifying the provisions relating to the reporting of projects and the offsets of emissions. I think that this bill is a very straightforward minor amendment to the evolution of what is an important legal framework. I thank the Senate.