Appendix A: Capital Measures (Continued)
Climate Change and Energy Efficiency
Clean Energy Future — cancellation of Kyoto units
| 2010‑11 | 2011‑12 | 2012‑13 | 2013‑14 | 2014-15 | |
|---|---|---|---|---|---|
| Department of Climate Change and Energy Efficiency |
- | * | * | * | * |
The Government will cancel a total of approximately 6.3 million Kyoto units, including cancelling Kyoto units for GreenPower purchases from 1 January 2010 until the commencement of the carbon price mechanism on 1 July 2012. This will ensure that abatement from current GreenPower purchases can be accounted for as voluntary action that is in addition to abatement to meet Australia's Kyoto target.
The Government will also cancel Kyoto units for Greenhouse Friendly™ abatement achieved during the Kyoto commitment period. This will enable Greenhouse Friendly™ credits to be included as an eligible source of offset credits under the National Carbon Offset Standard.
The units slated for cancellation represent between 10 and 20 per cent of Australia's currently projected surplus Kyoto units and their cancellation is not expected to affect Australia's ability to meet its Kyoto target.
At present, the financial impact of cancelling these units cannot be reliably quantified.
Savings from this measure will be redirected to support other Government priorities.
If www.budget.gov.au responds slowly or you are having trouble downloading a document, try one of the Budget Website Mirrors
Note: Where possible, Budget documents are available in HTML and for downloading in Portable Document Format(PDF). If you require further information on any of the tables or charts on this website, please contact The Treasury.
