The Federal Government is fast-tracking the development of a Guarantee of Origin scheme, to provide an emissions accounting framework for Australian businesses.
Assistant Minister for Climate Change and Energy Jenny McAllister said the scheme would issue digital certificates that allowed producers, exporters and users to prove where a product was made, and the emissions associated with its production and transport.
Ms McAllister said the scheme would commence with hydrogen and then expand to include low carbon liquid fuels like sustainable aviation fuel, green metals, like steel and aluminium, and biomethane and biogas.
“The certificates will be used to establish eligibility for tax credits under the $6.7bn Hydrogen Production Tax Credit announced in the 2024/25 Federal Budget and are likely to play a crucial enabling role in the development of other green industries,” she said.
Ms McAllister said the Guarantee of Origin scheme was supported by the Renewable Electricity Guarantee of Origin scheme, which would issue digital certificates proving when, where and how renewable energy was produced.
She said the scheme would replace the RET in 2030 as the framework for certifying renewable electricity.
“The government is currently considering the submissions made as part of its consultation into design questions (and) a final response to that consultation is due to be released shortly.”
Ms McAllister the Government was working to finalise the enabling legislation so it could commence operation in the second half of 2025.
“The Guarantee of Origin scheme is the most important green industry program you never heard of.
“As the world decarbonises, it will be increasingly important for businesses to be able to account for the carbon emissions associated with their products.”
