The Australian Government has passed the Future Made in Australia(Guarantee of Origin)Bill through Parliament.
The Guarantee of Origin(GO)scheme is a voluntary program for industry.It is designed to certify renewable electricity and track and verify the emissions of low-emissions products,such as hydrogen.
It will support the development of Australia’s green industries.It will do this by certifying renewable electricity and the emissions associated with products.
This will help Australian producers remain competitive in new and emerging domestic and global markets,by accounting for the emissions embedded in their products.
This will help Australian producers remain competitive in new and emerging domestic and global markets by accounting for and accurately presenting the low-emissions reality of their products.
This legislation builds on and complements important government initiatives,including the Capacity Investment Scheme and reforms to the Safeguard Mechanism,and it will be the basis on which the Hydrogen Production Tax Incentive can be sought.
It will provide Australian businesses and investors with the regulatory certainty to support and encourage investment through a high-integrity certificate scheme that makes sure that renewable energy and decarbonised products can be properly valued.
Comment attributable to Minister Bowen:
“We are committed to launching the Guarantee of Origin scheme in 2025 to provide Australian industry with the certainty it needs to make the most of Australia’s distinctive competitive advantages as we make the clean energy transition.
“The GO Scheme is a key element of the energy transition toolbox that our government is putting to work to drive investment as we strive to become a renewable energy superpower.”
Comment attributable to Assistant Minister Wilson:
“Today’s legislation of the Guarantee of Origin scheme is a crucial component of the government’s$22.7 billion Future Made in Australia agenda.
“The scheme will certify Australian low-emissions products and spur investment in clean energy industries.
“For the Product GO,we’re beginning with hydrogen but will expand to cover other important manufacturing opportunities like those represented by green metals and low-carbon liquid fuels.”
（Picture: Veer）
