The Australian Government recently introduced the Clean Energy Legislative Package which introduced a carbon pricing mechanism. Under this scheme, participants will face a charge for carbon emissions unless they acquire or surrender the number of emissions units that represent their total annual emissions. Entities are able to implement emission offset projects to reduce or sequester carbon emissions. Emissions units include carbon units, Australian carbon credit units (ACCUs) and eligible international emissions units (EIEUs). However, emissions units are recognised as financial product under the Corporations Act.
If you are involved in providing advice, dealing, making a market, operating a registered scheme or providing a custodial or depository service in the regulated credits and permits, you will require an AFSL with the necessary authorisations to arrange, trade or provide advice on financial products for carbon units.
For many firms, getting or varying an AFSL can often be a time consuming process and you may feel you do not have sufficient time in order to be able to continue your carbon based business. Sophie Grace can help make this process less burdensome for your business so you can continue to provide financial services in relation to carbon.
If you would like to obtain further information or assistance, please contact Sophie Grace directly.