Twenty-five of Australia's largest companies have signed up to the new Corporate Emissions Reduction Transparency (CERT) report pilot.
These businesses account for almost 26 per cent of Australia's Scope 1 annual greenhouse gas emissions reported to the Clean Energy Regulator and operate across the construction, energy, finance, manufacturing, mining, research, retail and transport sectors.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the report was designed to keep corporate Australia accountable for the emissions reduction commitments they are voluntarily making.
"Many Australian companies have chosen to voluntarily adopt their own emissions reduction target. This initiative will bring transparency and accountability to the commitments they are making," Minister Taylor said.
"These businesses are household names, and while ambition is good, practical action and achievement are what matter.
"By signing up to the CERT pilot, these businesses are raising the bar for corporate emissions reporting transparency in Australia.
"They are demonstrating their commitment to being accountable for progress towards the goals they've set.
"I challenge every other large energy-using business in Australia: if you've chosen to set an emissions reduction target, sign up to the CERT initiative."
The Morrison Government developed the CERT report with the Clean Energy Regulator and co-designed with industry following wide-consultation.
The pilot phase of the CERT is only open to businesses covered by the National Greenhouse and Energy Reporting scheme (with scope 1 and 2 emissions above 50,000 tonnes per year).
The report will provide a clear picture of companies' net and gross emissions including their use of carbon offsets and percentage of renewable electricity use, in a clear and consistent manner.
This data will be presented alongside their public commitments to reduce emissions or increase renewable electricity and will be easily accessible on the Clean Energy Regulator's website.
A number of other companies have signalled to the Clean Energy Regulator that they will engage in what is learnt from the pilot year with a view to participating in the first full year in the fourth quarter of 2022.
Being accountable for progress is one of five principles in Australia's Long Term Emissions Reduction Plan.
