Governance & Policy
Safeguard Mechanism (Australia)
Australia's policy setting declining emissions baselines for its largest industrial facilities, with credits and offsets for compliance.
Definition
The Safeguard Mechanism is Australia's principal policy for reducing emissions from large industrial facilities. In force since 2016 and reformed in 2023, it sets emissions baselines for facilities emitting over 100,000 tonnes of CO₂-equivalent per year, declining by a set annual rate toward 2030. Facilities below baseline earn Safeguard Mechanism Credits (SMCs); those above must surrender SMCs or Australian Carbon Credit Units to comply.
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