Nick Xenophon (SA, Independent) Share this | Hansard source

I indicate that in relation to the minister’s response to the integrity of the scheme it is not intended that this be inconsistent with the integrity of any offset. I want to make that absolutely clear. The impetus for moving this amendment is the frustration that has been expressed to me by a number of emerging technology companies who say, ‘Under current accounting rules we are constrained; we’re not getting that fair go.’ I think the minister acknowledges that and I also think the minister will be arguing for changes to those accounting rules so that we can open things up for these emerging technologies. There is a lot of potential there.

For those of my colleagues who do not believe in any form of emissions trading scheme or who do not even believe in climate change, I would urge them to look at the potential of emerging technologies in terms of carbon sequestration. I thank the minister for her answer. I do not think I have ever pushed the government on anything, Minister. I am just so easy to get on with! We can do better in relation to this. I look forward to working constructively with the government so that these emerging technologies can have a greater degree of investment certainty. We need to robustly analyse and scrutinise them, but the potential Australia has to lead the region and the world with some of these emerging technologies is something we should encourage in a responsible way.