Wednesday Mar 14, 2012

Compliance with California Cap and Trade and Carbon Reporting Legislation

In one of my previous posts, I talked about greenhouse gas (GHG) reporting requirements in Australia and how companies can address those requirements using Oracle Environmental Accounting and Reporting. Since then I've received several questions about how companies can address GHG reporting requirements imposed by the upcoming cap-and-trade program in California. Here I'll provide an overview of those new regulations as well as where you can get more detailed information.

In January 2012 California plans to launch a cap-and-trade program that will cover electricity generation as well as industrial sources that emit 25,000 tons or more each year in carbon emissions. The new cap-and-trade regulation, which will cover some 360 businesses representing 600 facilities, is divided into two phases. The first phase begins in 2013 and will include all major industrial sources and electricity utilities. The second phase starts in 2015 and will include distributors of transportation fuels, natural gas and other fuels. The goal is to reduce emissions to 1990 levels by the year 2020, and to 80 percent below the 1990 levels by the year 2050.

You can obtain full details on how the program works and how you can use Oracle Environmental Accounting and Reporting here.

By Elena Avesani, Principal Product Strategy Manager, Oracle

Friday Feb 24, 2012

Oracle Environmental Accounting and Reporting and Australia’s Carbon Tax Management

We've been getting a lot of interest around the world in our relatively new product Oracle Environmental Accounting and Reporting (EA&R). This product enables organizations to track their greenhouse gas (GHG) emissions and other environmental data against reduction targets. EA&R also facilitates environmental reporting for both voluntary and legislated emissions reporting schemes. I plan to provide several postings that will discuss EA&R in regards to various regions and their unique GHG reporting requirements – starting with Australia.

In 2007, The Australian Department of Climate Change and Energy Efficiency (The Department) issued the National Greenhouse and Energy Reporting Act 2007 (The NGER Act). The Act makes registration, and emissions reporting mandatory for corporations whose energy production, energy use or greenhouse gas emissions meet specific thresholds. In November 2011, Australia then passed a landmark law to impose a price on carbon emissions, provided for by the Clean Energy Act 2011. Companies involved will need to obtain a government-issued carbon unit for every ton of  liable carbon emissions they produce. The initial price will be fixed, but will then be replaced by a flexible price on July 1, 2015, with the price of units being set by the market, with the number of available units capped, and a 'price ceiling' and a 'price floor'. Liabilities can also be managed by certain carbon offsets, although limits apply. You can obtain full details and see how you can use Oracle Environmental Accounting and Reporting to meet these requirements here

By Elena Avesani

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