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5257.0.55.001 - Information Paper: Recording Emissions Reduction Schemes in ABS Statistics, Jul 2012  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 30/07/2012  First Issue
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MEDIA RELEASE
30 July 2012
Embargo: 11.30 am (Canberra Time)
111/2012
Recording Emissions Reduction Schemes in ABS Statistics
The ABS has today released an information paper Recording Emissions Reduction Schemes in ABS Statistics (cat. no. 5257.0.55.001). The paper details the statistical treatment of the measures legislated under the group of Acts that are known collectively as the Clean Energy Acts that came into force on 1 July 2012.

The ABS expects to include estimates of the Clean Energy Acts emissions reduction schemes in economic and environment statistics, commencing with the September reference quarter 2012. The ABS will also include estimates for the measures introduced with the Renewable Energy Act 2000 at the same time.

The statistical and commercial accounting treatments of emissions reduction schemes have been subject to debate internationally. The statistical treatment was decided at the 43rd meeting of the United Nations Statistical Commission in February 2012, which ratified the historic cost approach for recording transactions in the various schemes. Rather than follow the UN decision, the ABS has decided to apply a market value approach to recording transactions and positions. This is consistent with fundamental statistical principles as outlined in the internationally agreed System of National Accounts. The ABS believes that the market value approach will reflect more accurately:
  • the cost of the schemes to business;
  • the value of the taxes collected by government; and
  • the value of the debt of government through issuing tradeable permits.

The information paper details the reasons for the ABS decision and the details of the statistical treatments to be introduced for the September 2012 reference quarter.

More details can be found at http://www.abs.gov.au/ausstats/abs@.nsf/mf/5257.0.55.001


Media note:
  • When reporting ABS data the Australian Bureau of Statistics (or ABS) must be attributed as the source.



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