The Climate Change Response (Emissions Trading Reform) Amendment Act 2020 (ETR) received Royal Assent on 22 June 2020. Some of the legislation came into force immediately, other parts have rolling starts until 1 January 2024. To see the exact dates, click here.
This legislation imposes serious costs/penalties which present a challenge for farmers trying to earn their social licence to operate. In line with this, the Essential Fresh Water Package (the Freshwater NES, referred to here in this edition of Rural eSpeaking) is still to be finalised, bringing in new policies to achieve the two main objectives: to stop further degradation and to reverse past damage to waterways.
Generally, the ETR aims to provide more certainty for businesses, make the scheme more accessible and improve its administration in relation to reducing greenhouse gas emissions.
For further information on the regulations imposed by the ETR please go here.