MINISTERIAL COUNCIL RELEASES DRAFT GUIDING PRINCIPLES FOR REGULATING GEOSEQUESTRATION OF CO_2

摘要

While it may be some time before geosequestration is accepted as a technically and commercially viable (and politically acceptable) method of curbing the release of carbon dioxide into the atmosphere, Australia's reliance on its abundant fossil fuel resources will ensure that the large-scale use of geosequestration technology in this country will continue to be seriously considered. The decision by the MCMPR to release the Draft Guiding Regulatory Framework indicates that the Federal and State and Territory Governments are keen to understand who and what might be impacted by geosequestration and then set out as clear a regime as possible to establish the responsibility and liability of a geosequestration project proponent. Industry, community groups and other non-government organisations will need to review the Draft Guiding Regulatory Framework and carefully consider its consequences for geosequestration projects. The Federal and State and Territory Governments will need to proceed cautiously to ensure that any reform proposals are aimed not only at adequately protecting the public but also at striking an appropriate balance between encouraging investment in geosequestration technologies on the one hand while not hindering investment in other methods for reducing carbon dioxide emissions on the other.