Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

Noting the range of senators who seek to make a contribution, I will be brief. Senator McDonald asked me a range of questions, and I have assembled some of the information she seeks. She asked whether the minister for the environment would be the determining minister for the regulations. The answer to that question is yes, noting that these regulations must be within the scope of the regulatory power that's provided in the act and that these regulations will be disallowable.

I have further information in relation to the RIS. The EPBC Act review was certified by the Office of Impact Analysis as meeting the requirements of a RIS to support actions in the government's Nature Positive Plan. The full impacts will be measured and published following the introduction of legislation where additional regulatory burdens are identified.

Senator McDonald asked about the capacity for the seabed to be brought within the scope of offshore activity, to be brought within the scope of the water trigger. I am advised that, because the trigger is defined in relation to unconventional gas, that is not likely, as the gas which is presently extracted offshore is conventional. However, should a minister seek to do so, as with the other regulatory arrangements, any such regulation would be disallowable, and the Senate would have an opportunity to consider those matters at that time.

Senator McDonald asked about the provisions which provide for the interaction with other developments. I am advised that this language mirrors the existing language in the bill as it relates to coal seam gas.

Finally, we understand the significance of regulatory certainty on the resource sector and we understand the significance of securing sufficient gas supply to meet our domestic requirements. The truth is that those on the other side of the chamber were warned on at least a dozen occasions when they were in government that Australia was hurtling towards a gas supply problem in the domestic east coast gas market, and their response was 22 failed energy policies that left Australian households and businesses overexposed and underprepared for a global energy crisis. We have taken a very different approach. We have reformed the ADGSM to carefully balance domestic energy needs with Australia's responsibility to meet international contractual obligations—and this is certainty; this is clarity. We've legislated a credible emissions reduction policy, through the strengthened safeguard mechanism, providing the certainty that business has been crying out for on climate policy. And the government's gas code of conduct is working to shield east coast gas consumers from volatile international gas prices and to reduce the risk of supply shortfalls forecast by the Australian Energy Market Operator.

I will leave it there, noting that others wish to make a contribution in the remaining time. The government understands the significance of this industry. We are taking the steps necessary to provide regulatory certainty, and that's important for business and for the community.