The federal government has introduced a Bill for its landmark Guarantee of Origin scheme, which is designed to enable producers of green and low-emissions products in Australia to differentiate their products from fossil-fuel based goods.
Overseen by the independent Clean Energy Regulator, the Guarantee of Origin (GO) scheme will track and verify emissions across a product’s lifecycle and create certificates which prove when, where, and how renewable electricity in Australia is produced.
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The GO scheme is an important part of the broader $22.7 billion Future Made in Australia package and will support the development of Australia’s new green industries.
Critically, it will prove eligibility under the $6.7 billion Hydrogen Production Tax Incentive which will be vital for growing renewable hydrogen production in Australia.
The new renewable electricity guarantee of origin (REGO) certification mechanism—also established in the Bill—will operate alongside and then replace the Large-scale Generation Certificate (LGC) framework under the Renewable Energy Target (RET) when it ends in 2030.
Assistant Minister for Climate Change and Energy Josh Wilson said, “The GO scheme is an essential platform for unlocking crucial investment in Australia’s net zero industries as our nation seizes the massive opportunities in the clean energy transition as we realise our potential to be a renewable energy superpower.
“It will create opportunities for Australian businesses to verify new clean products and to market their low-emissions credentials through an effective, trusted scheme.
“Aligned with international standards, it will improve Australian competitiveness in new and emerging domestic and global markets, and will increase Australian exports and Australian jobs as part of the Future Made in Australia imperative.”
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The Clean Energy Council welcomed the news, with policy director for decarbonisation Anna Freeman commenting, “It is critical for building consumer and customer trust, safeguarding against greenwashing, and helping to unlock Australia’s trade opportunities.
“Australia has big opportunities to develop new net-zero emissions industries, leveraging our abundant renewable energy and minerals resources, and this scheme will help to unlock our expanding trade opportunities.”
