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Kyoto Protocol Ratification Bill 2003 [No. 2]

Part 2 Ratification and implementation

6  Ratification

                   The Government of the Commonwealth of Australia must deposit its instrument of ratification of the Kyoto Protocol with the United Nations within 60 days of the commencement of this Act.

7  National Climate Change Action Plan

                   In order to achieve Australia’s quantified emission limitation and reduction commitments under Article 3 of the Protocol, the Minister must prepare a National Climate Change Action Plan, setting out a detailed implementation strategy to meet Australia’s obligations under Article 2 of the Protocol.

8  Kyoto target

                   The Minister must ensure that Australia’s aggregate human induced carbon dioxide equivalent emissions of greenhouse gases listed in Annex A of the Protocol in the first commitment period, from 2008 to 2012, do not exceed its assigned amount of 108% of 1990 levels inscribed in Annex B of the Protocol.

9  Annual greenhouse gas inventory and national communication

             (1)  The Minister must establish a national system for estimation of human induced emissions by sources and removals sinks of all greenhouse gases not controlled by the Montreal Protocol, in accordance with Australia’s obligations under Article 5 of the Protocol and accepted by the Intergovernmental Panel on Climate Change.

             (2)  The Minister must publish its annual inventory of greenhouse gas emissions in accordance with Australia’s obligations under Article 7 of the Protocol and submit it for review by expert review teams pursuant to the relevant decisions of the Conference of Parties as set out in Article 8 of the Protocol.

             (3)  The Minister must also submit a national communication in accordance with the provisions of Article 7 and subject to subsequent decisions by the Conference of the Parties.

10  Framework for involvement in international trading schemes

             (1)  The Minister must develop a mechanism to allow for the international transfer in emission reduction units including:

                     (a)  the transfer or acquisition of units from or to other Parties to the Protocol that result from projects aimed at reducing human induced emissions by sources or enhancing human induced removals by sinks of greenhouse gases; and

                     (b)  the transfer of emission reduction units under the clean development mechanisms.

             (2)  In developing a mechanism under subsection (1), the Minister must establish a registry of emission units in order to:

                     (a)  ensure, for the first and subsequent commitment periods, the accurate accounting of:

                              (i)  the issue, holding, acquisition, transfer, retirement and cancellation of emission reduction units; and

                             (ii)  the carry-over of assigned amount units, certified emission reduction units and emission reduction units; and

                     (b)  ensure, in accordance with Article 7.4 of the Protocol, the accurate, transparent and efficient exchange of information between the registry and equivalent overseas registries.