Summary
Part of a package of 18 bills to implement a carbon pricing mechanism, the bill outlines the structure of, and process for the introduction of, the mechanism by providing for: entities and emissions covered by the mechanism; entities’ obligations to surrender eligible emissions units; limits on the number of eligible emissions units that will be issued; the nature of carbon units; allocation of carbon units; mechanisms to contain costs; linking to other emissions trading schemes; assistance for emissions-intensive, trade-exposed activities and coal-fired electricity generators; monitoring, investigation, enforcement and penalties; administrative review of decisions; and reviews of aspects of the mechanism.