Submission: Guarantee of origin should align with international best practice
The Scheme’s stated aim is to support the development of Australian green industries and international trade in low-emissions products. For these products to be certified “green” by our international trading partners, they will likely require some degree of time matching in future. It is therefore important that the Australian scheme match international equivalents.
The Greenhouse Gas (GHG) Protocol – the global carbon accounting standard – is reviewing its Scope 2 Guidance, which will likely include a focus on time matched renewable energy, requiring companies to align their renewable energy purchases with the actual hours of their electricity consumption when disclosing scope 2 emissions. Alignment with international best practice is important, to ensure that Australia’s new Scheme is not quickly outpaced.
A well-designed Scheme can incentivise virtual power plant development and better integration of consumer energy resources.
