The Australian Government has introduced the Guarantee of Origin (GO) scheme, a voluntary framework designed to support businesses and exporters seeking to tap into the increasing demand for renewable electricity and clean energy.
The scheme aims to provide a framework for emissions accounting of products and certification of renewable electricity.
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The GO scheme offers a product-based emissions accounting framework for selected commodities, tracking emissions and related data across the supply chain.
This framework is designed to help Australian businesses to confidently and objectively report the renewable electricity they generate or use, as well as the products they manufacture.
The GO scheme will benefit consumers by offering a publicly accessible record of renewable electricity use and product certificates.
This increased transparency is expected to support Australian producers access emerging domestic and export low-emissions markets.
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By GlobalDataAdministration of the GO scheme will be handled by the country’s Clean Energy Regulator.
The scheme will certify the emissions of products such as hydrogen and green metals, giving consumers, investors, and industry stakeholders more confidence in their low-carbon credentials.
Additionally, the GO scheme will certify renewable electricity, delivering clear and transparent evidence to substantiate claims of renewable electricity generation and use.
Australia Minister of Climate Change and Energy Chris Bowen said: “The global shift to clean energy represents one of the biggest economic transformations since the Industrial Revolution – and it presents Australia with an enormous economic and jobs opportunity.
“Global investment in clean energy projects is set to rise over $2tn. Our government wants to grow this – and this scheme provides the regulatory certainty that Australian businesses and investors need to increase our share in it.
“Our scheme will mean that our exporters, farmers, and industries will be able to seize the benefits of net zero globally, while helping to protect our environment for future generations.”
Industry participants can now register with the Clean Energy Regulator for two types of certificates, Product Guarantee of Origin (PGO) and Renewable Electricity Guarantee of Origin (REGO).
The PGO certificates record the emissions intensity and key attributes of clean products such as green hydrogen while the REGO certificates verify when, where, and how renewable electricity was generated.
The REGO certification will run concurrently with the Renewable Energy Target certification scheme for a period of five years, ensuring long-term certainty for investment and procurement in renewable electricity.
For industries investing in clean energy and manufacturing, the GO scheme is said play key role in enabling access to the Albanese national government’s Future Made in Australia initiatives.
These initiatives include the $4bn Hydrogen HeadStart programme, the $6.7bn Hydrogen Production Tax Incentive, and the $2bn Green Aluminium Production Credit.
Australia assistant Minister of Climate Change and Energy Josh Wilson said: “The GO scheme will help Australia to realise the full economic potential of the energy transition by supporting jobs and investment in a Future Made in Australia, and it will give Australian producers the confidence and credibility they need to compete in a global economy that’s rapidly decarbonising.
“GO is a high-integrity certificate scheme that will demonstrate how products are made and attest to their life cycle emissions, opening access to high-value domestic and international markets that demand low-emissions products and transparency.”
