Monday, 22 August 2011
Carbon Credits (Carbon Farming Initiative) Bill 2011, Carbon Credits (Consequential Amendments) Bill 2011, Australian National Registry of Emissions Units Bill 2011; In Committee
Dealing with the timeline, we do expect it to be dealt with in the one month. Why? Because the government has established an interim process—that is, the DOIC—that is in place. One of the issues you raised last Thursday was that you imagined—hypothetically—that it would take a lot longer. What I did not have an opportunity to tell you at the time was that there is in fact a DOIC in place. So, all of the work that you, hypothetically, envisaged had to be done is done. There is an interim DOIC in place and the draft methodology has been prepared and is ready for the interim DOIC to assess in a very short space of time. So all of that work is in train and can be done in a matter of a very short space of time—less than a month, I am advised, and probably sooner, depending of course on people's work commitments. But it is expected within that period and that is why we were confident in making that original assessment.
The draft methodology includes a standardised baseline of 30 per cent of projects transitioning from GGAS and zero for projects transitioning from greenhouse-friendly. In addition to that the draft methodology contains the baselines for both GGAS and for greenhouse-friendly projects as well. This means it is now likely to go to the interim DOIC within the month. Therefore, depending on how long the interim DOIC takes, we do not expect it to take particularly long. We are confident that the landfill sector can have confidence in the process.