Australia Introduces Guarantee of Origin Scheme for Low-Emission Industries
Key Ideas
- The Future Made in Australia (Guarantee of Origin) Bill 2024 will establish a voluntary Guarantee of Origin (GO) scheme to certify low-emission products, starting with hydrogen.
- The GO scheme aims to provide transparency on the environmental impacts of products, meeting the demand for green and low-emission products in growing markets globally.
- Two types of certificates will be issued: Product GO Certificates to verify product origin and emissions, and Renewable Electricity Guarantee of Origin Certificates for renewable electricity verification.
- The Clean Energy Council supports the GO scheme, highlighting the importance of decarbonisation commitments and the need for transparent information in today's market.
The Australian Department of Climate Change, Energy, the Environment and Water has introduced the Future Made in Australia (Guarantee of Origin) Bill 2024 in the Australian Parliament, proposing a voluntary Guarantee of Origin (GO) scheme. This landmark legislation is designed to track and verify attributes related to low-emission products, with a focus on bolstering green industries in Australia. The GO scheme will issue two types of certificates: Product GO Certificates, starting with hydrogen, to track product origin and associated emissions, and Renewable Electricity Guarantee of Origin Certificates to verify renewable electricity production details. The initiative aims to address the increasing demand for transparency regarding environmental impacts of products, aligning with global decarbonisation efforts and market trends. The Clean Energy Council has expressed support for the GO scheme, emphasizing the need for clear information to meet consumer and business demands for green and low-emission products. The scheme is expected to contribute to emerging net zero industries in Australia, catering to a market hungry for sustainable and transparent products. The Hamilton Locke New Energy team will provide ongoing updates and insights on the GO scheme, reflecting the country's commitment to a greener future.