Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Link to this | Hansard source

I move:

That the following matter be referred to the Economics References Committee for inquiry and report by 22 June 2016:

Carbon risk disclosure in regard to:

(a) current and emerging international carbon risk disclosure frameworks;

(b) current carbon risk disclosure practices within corporate Australia;

(c) Australian involvement in the G20 Financial Stability Board discussions on carbon risk impacts for financial stability;

(d) current regulatory and policy oversight of carbon risk disclosure across government agencies; and

(e) any other related matters.

Scott Ryan (Victoria, Liberal Party, Assistant Cabinet Secretary) Share this | Link to this | Hansard source

I seek leave to make a short statement.

Stephen Parry (President) Share this | Link to this | Hansard source

Leave is granted for one minute.

Scott Ryan (Victoria, Liberal Party, Assistant Cabinet Secretary) Share this | Link to this | Hansard source

Thank you, Mr President. The government does not support additional red tape in an area where Australia is already providing very significant amounts of information. Australia's NGER—National Greenhouse Energy and Reporting System—is renowned as best practice greenhouse gas reporting. Detailed emissions data is publicly available on Australia's National Greenhouse Gas Inventory and Australia's emissions projections.

Australian companies participate in the Emissions Reduction Fund and Safeguard Mechanism. Many Australian companies provide information through the Carbon Disclosure Project and the National Carbon Offset Standard. The National Carbon Offset Standard has recently been reviewed. The International Financial Stability Board is reviewing principles and best practice on carbon disclosure. The National Climate Resilience and Adaptation Strategy provides information on managing climate risks.

Stephen Parry (President) Share this | Link to this | Hansard source

The question is that notice of motion No. 2, business of the Senate, moved by Senator Whish-Wilson, be agreed to.