ECONOMIC EFFICIENCY ENVIRONMENTAL IMPLEMENTATION RECOMMENDATION EQUITY EFFECTIVENESS PROCESS COSTS BENEFITS R. 10 The CER include on their website a Increases administrative costs Increases availability of Could reduce risk of reversal Improves information CER search function for ERF projects for CER. information to future to some extent by increasing availability and based on individual properties. purchasers of land with a the transparency of obligations transparency for those sequestration project and on the land. with interests in relevant increases confidence that land areas. eligible interest holders are aware of projects. R. 11 Develop guidance for Increases administrative costs Increases availability of Could reduce risk of reversal Improves information CER conveyancers and state and for CER. information to future to some extent by increasing availability and territory legal societies on purchasers of land with a the transparency of obligations transparency for potential permanence obligations that run sequestration project so they on the land. purchasers of land. with the land. have better knowledge of costs and risks to property values over time. R. 12 Review the: Increases costs for the Assists Government in Could lead to better NA CCA Authority. understanding the risks of management of the risk of - risk of reversal buffer and reversal. reversal across the scheme. - the permanence period discount. R. 13 Require ERF scheme participants Small increases in transaction Could enhance CER Could improve environmental Creates a more level Change to legislative rule to notify CER of individuals and costs for scheme participants. intelligence gathering and effectiveness of the scheme playing field for scheme firms that they paid to provide them improve scheme compliance. by strengthening compliance. participants that abide by with advice. ERF rules. Reduces risk of unscrupulous scheme advisers. R. 14 Extend the Fit and Proper Person Increases administration costs Could improve scheme Could improve environmental Treats agents the same as Change to CFI Act test to apply to designated agents. to CER and transaction costs to compliance. effectiveness of the scheme scheme participants. some scheme participants. by strengthening compliance.
RECOMMENDATION ECONOMIC EFFICIENCY ENVIRONMENTAL EFFECTIVENESS EQUITY IMPLEMENTATION PROCESS COSTS BENEFITS R. 10 The CER include on their website a search function for ERF projects based on individual properties. Increases administrative costs for CER. Increases availability of information to future purchasers of land with a sequestration project and increases confidence that eligible interest holders are aware of projects. Could reduce risk of reversal to some extent by increasing the transparency of obligations on the land. Improves information availability and transparency for those with interests in relevant land areas. CER R. 11 Develop guidance for conveyancers and state and territory legal societies on permanence obligations that run with the land. Increases administrative costs for CER. Increases availability of information to future purchasers of land with a sequestration project so they have better knowledge of costs and risks to property values over time. Could reduce risk of reversal to some extent by increasing the transparency of obligations on the land. Improves information availability and transparency for potential purchasers of land. CER R. 12 Review the: - risk of reversal buffer and - the permanence period discount. Increases costs for the Authority. Assists Government in understanding the risks of reversal. Could lead to better management of the risk of reversal across the scheme. NA CCA R. 13 Require ERF scheme participants to notify CER of individuals and firms that they paid to provide them with advice. Small increases in transaction costs for scheme participants. Could enhance CER intelligence gathering and improve scheme compliance. Could improve environmental effectiveness of the scheme by strengthening compliance. Creates a more level playing field for scheme participants that abide by ERF rules. Reduces risk of unscrupulous scheme advisers. Change to legislative rule R. 14 Extend the Fit and Proper Person test to apply to designated agents. Increases administration costs to CER and transaction costs to some scheme participants. Could improve scheme compliance. Could improve environmental effectiveness of the scheme by strengthening compliance. Treats agents the same as scheme participants. Change to CFI Act
ERF%20Review%20Report.docx