CME Submission to “ERF method development priorities for 2022”
Climate change is a global challenge requiring coordinated action at international, national and sub-national levels. CME supports the Paris Agreement and its goal of limiting global warming to well below 2, preferably to 1.5 degrees Celsius, by reducing emissions to net zero as soon as possible and no later than 2050. Australia, as a signatory to the Paris Agreement, must actively contribute to this goal and fulfilment of its Nationally Determined Contributions.
CME will advocate for a sustainable development approach to climate change policy including the transition to net zero emissions, a framework that balances the social, economic and environmental aspects associated with emissions reduction, and ensures a just transition for those affected by change. Australia must fulfil its aspirations in all three areas rather than viewing them as at odds with each other.
In the Australian context, CME will advocate for this best to be achieved through government-coordinated approaches that ensure:
- a national framework to achieve national objectives in a co-ordinated and efficient manner, providing policy stability and investment certainty for industry;
- a single, national emissions account that is up to date, transparent and publicly available;
- a transparent price signal across the whole economy and promotion of lowest cost abatement, leveraging existing mechanisms where possible, and appropriately considering the international competitiveness of trade exposed industries;
- investment in a broad range of affordable technologies including for energy efficiency, emissions reduction, carbon sequestration, and adaptation measures;
- Australia’s competitive advantages in a future low emissions economy are leveraged through the development and supply of in-demand new energy and mineral commodities;
- a mature, liquid and affordable market for domestic offsets and allowing for international trade of credible offsets;
- related climate adaptation, land use and planning matters are progressed including:
- the Western Australian Government ensuring appropriate carbon-related opportunities on Crown (state) lands can be realised; and
- State-managed utilities and assets are managed to support decarbonisation and energy transition and provide for water, energy and infrastructure security.
For further information about CME’s energy-specific policies, please refer to CME’s Energy Policy available here.
CME’s climate policy positions will be reviewed periodically including in response to significant changes to the external context.
Climate & Energy Reference Group
The Climate and Energy Reference Group is tasked with leading policy development on climate, greenhouse gas emissions and energy-related issues impacting the resources sector.
The Climate and Energy Reference Group provides guidance on CME’s participation on a number of external groups:
• Minerals Council of Australia’s Climate and Energy Committee
• Environmental Protection Authority’s Stakeholder Reference Group
• Department of Water and Environmental Regulation’s Regulatory Services Stakeholder Reference Group