This report argues that following the emissions reduction requirements of the Paris Climate Agreement will impose significant and irreparable economic damage to Australia, without delivering an environmental dividend.

The proposed final design of the National Energy Guarantee (NEG) will require retailers to contract for generation or demand response to meet a minimum level of dispatchable ‘on demand’ electricity where there is an identified gap. Retailers must also keep their emissions below an agreed level.

This paper outlines the detailed design of the Commonwealth elements of the National Energy Guarantee (NEG), including feedback received from stakeholders during consultation on the draft design.

This report recommends a suite of policy reforms to help drive the transition. These include introducing emissions standards for newly registered vehicles, a feebate scheme to accelerate the uptake of EVs, and mandatory climate-related financial disclosures.

This review will focus on the three key aspects of the national greenhouse and energy reporting legislation: emissions and energy reporting, the safeguard mechanism and the auditing framework. The review will consider if each of the individual elements is achieving its objectives, is fit for purpose and if any improvements can be made.