A new emissions certification scheme, launched this week, aims to provide Australian businesses and exporters looking to capitalise on the demand for clean energy industries, with a competitive advantage.
Federal Climate Change and Energy Minister Chris Bowen said the Guarantee of Origin (GO) scheme would certify the emissions of products, like hydrogen and green metals, providing consumers, investors and industry confidence in their low-carbon credentials.
“It will build trust in buying cleaner, Australian-made products which can be used domestically or be exported to countries decarbonising their own economies,” Minister Bowen said.
He said the ‘GO’ scheme would also certify renewable electricity to provide clear, transparent evidence to support claims of renewable electricity generation use.
Industry can now register with the Clean Energy Regulator for two types of certificates:
- Product Guarantee of Origin (PGO) certificates, which record the emissions intensity and key attributes of clean products such as green hydrogen.
- Renewable Electricity Guarantee of Origin (REGO) certificates, which verify when, where and how renewable electricity was generated.
Minister Bowen said REGO would overlap with the Renewable Energy Target (RET) certification scheme for five years, “providing long-term certainty for renewable electricity investment and procurement”.
He said for industry investing in clean energy and manufacturing, GO would play an important role in accessing the Government’s Future Made in Australia initiatives including the $4 billion Hydrogen HeadStart program, the $6.7 billion Hydrogen Production Tax Incentive and the $2 billion Green Aluminium Production Credit.
“The global shift to clean energy represents one of the biggest economic transformations since the Industrial Revolution – and it presents Australia with an enormous economic and jobs opportunity.
“Global investment in clean energy projects is set to rise over USD $2 trillion. Our government wants to grow this – and this scheme provides the regulatory certainty that Australian businesses and investors need to increase our share in it.”
