(less than one per cent). Sources: Climate Change and Energy Efficiency 2013; Department of the Environment 2014a, 2014b. Scheme Description Eligibility and Additionality Baseline coverage setting The For the liability Additionality was The penalty New South Greenhouse component of tested at the baseline for Wales Gas GGAS, eligibility and the liability Greenhouse Reduction benchmark methodology component Gas Scheme participants were GGAS specified was expressed Reduction (GGAS) was firms and other that accredited as an intensity Scheme a baseline entities that were projects should (GGAS) and credit either captured be: tonnes of scheme or volunteered carbon dioxide established into the scheme. equivalent per in project capita. This South Benchmark reduced or was a Wales, benchmark targets were offset Australia, in imposed on all greenhouse target and was 2003. The electricity gas emissions set in Australian retailers and from the legislation. Capital market buyers electricity The initial Territory level was set at that took sector introduced electricity 8.65 GGAS in directly from the project per capita, 2005. The which reduced grid. Some large exceeded any scheme was consumers and statutory to 7.27 tonnes terminated state projects requirements in 2007 and in 2012 (over 100 MW under other was set to when the per year) could legislative or remain at this national level until opt in to the mandatory carbon scheme for a requirements 2021. pricing variety of in NSW. mechanism reasons, such as A compliance commenced. boosting In practice, this rule converted environmental meant that credits electricity GGAS was a profiles or were given where sector meeting internal benchmarks current based energy efficiency greenhouse into individual penalty targets. performance annual scheme that improved below benchmarks. allowed For the offset prior practice and Each offsets. Its benchmark component of business-as-usual GGAS, only or, in some cases, participant was accredited allocated a
(less than one per cent). Sources: Climate Change and Energy Efficiency 2013; Department of the Environment 2014a, 2014b. Scheme Description Eligibility and coverage Additionality Baseline setting South Wales Greenhouse Gas Reduction Scheme (GGAS) The Greenhouse Gas Reduction Scheme (GGAS) was a baseline and credit scheme established in New South Wales, Australia, in 2003. The Australian Capital Territory introduced GGAS in 2005. The scheme was terminated in 2012 when the national carbon pricing mechanism commenced. GGAS was a penalty scheme that allowed offsets. Its For the liability component of GGAS, benchmark participants were firms and other entities that were either captured or volunteered into the scheme. Benchmark targets were imposed on all electricity retailers and market buyers that took electricity directly from the grid. Some large consumers and state projects (over 100 MW per year) could opt in to the scheme for a variety of reasons, such as boosting environmental profiles or meeting internal energy efficiency targets. For the offset component of GGAS, only accredited Additionality was tested at the eligibility and methodology GGAS specified that accredited projects should be: project reduced or offset greenhouse gas emissions from the electricity sector project exceeded any statutory requirements under other legislative or mandatory requirements in NSW. In practice, this meant that credits were given where current greenhouse performance improved below prior practice and business-as-usual or, in some cases, The penalty baseline for the liability component was expressed as an intensity of carbon dioxide equivalent per capita. This was a benchmark target and was set in legislation. The initial level was set at 8.65 tonnes per capita, which reduced to 7.27 tonnes in 2007 and was set to remain at this level until 2021. A compliance rule converted electricity sector benchmarks into individual annual benchmarks. Each benchmark participant was allocated a based
CCA_CFIStudyPublicReportHTMLAppendixA.docx