3. Ensure that any approach provides a net benefit to the community and meets the objectives of the Australian Government’s regulation reform agenda by minimising the impact and costs on business to the extent possible while still meeting objectives 1 and 2. Options Government and industry maintain current policy and Option 1 No Policy – practices into the future and do not take specific action Change to manage NRSIEE emissions Voluntary scheme operated by industry NRSIEE are voluntarily labelled if compliant with the emission Option 2 Voluntary – standards, with the emission standards set by government Legislation establishes emission standards with Option 3 – Regulation industry administering the arrangement Legislation establishes emission standards with Option 4 Regulation – government administering the arrangement The proposed approach to establishing Australian NRSIEE emission standards is to adopt relevant US emission standards and recognise the equivalent standards of other countries. US standards continue to be the most stringent internationally, and are the default for most manufacturers due to the US market share for NRSIEE products. This approach directly follows the Australian Government and the Council of Australian Governments (COAG) principle to adopt or align with accepted international standards to reduce regulatory burden for business and remove barriers to trade . Assessment of Options (Impact Analysis) Each alternative option was compared against the business as No Policy Change option, which describes the situation if no emission standards for NRSIEE were introduced in Australia. The analysis found that there was a significant net benefit under each of the alternative options compared to the No Policy Change option. The greatest net benefit is achieved from the Regulation option in the order of $636 million. The Voluntary and Co-Regulation options had net benefits of $324 million and $503 million respectively.
Regulation 3. Ensure that any approach provides a net benefit to the community and meets the objectives of the Australian Government’s regulation reform agenda by minimising the impact and costs on business to the extent possible while still meeting objectives 1 and 2. Options Option 1 – No Policy Change Government and industry maintain current policy and practices into the future and do not take specific action to manage NRSIEE emissions Option 2 – Voluntary Voluntary scheme operated by industry NRSIEE are voluntarily labelled if compliant with the emission standards, with the emission standards set by government Option 3 – Legislation establishes emission standards with industry administering the arrangement Option 4 – Regulation Legislation establishes emission standards with government administering the arrangement The proposed approach to establishing Australian NRSIEE emission standards is to adopt relevant US emission standards and recognise the equivalent standards of other countries. US standards continue to be the most stringent internationally, and are the default for most manufacturers due to the US market share for NRSIEE products. This approach directly follows the Australian Government and the Council of Australian Governments (COAG) principle to adopt or align with accepted international standards to reduce regulatory burden for business and remove barriers to trade . Assessment of Options (Impact Analysis) Each alternative option was compared against the business as No Policy Change option, which describes the situation if no emission standards for NRSIEE were introduced in Australia. The analysis found that there was a significant net benefit under each of the alternative options compared to the No Policy Change option. The greatest net benefit is achieved from the Regulation option in the order of $636 million. The Voluntary and Co-Regulation options had net benefits of $324 million and $503 million respectively.