Prime Minister Julia Gillard today announced that the Climate Change Authority, one of the key governance bodies established under the Government's clean energy legislation, will be based in Melbourne.
The CCA will be an independent body which will provide expert advice on the carbon pricing mechanism and the Government's climate change mitigation policies.
Locating the new Authority in Melbourne will enhance its ability to engage with business and other stakeholders.
It will also allow the CCA to work effectively with the Productivity Commission which also has important functions under the clean energy legislative package.
The Government has already announced that it will appoint the former Reserve Bank Governor and Treasury Secretary Bernie Fraser as the first Chairman of the CCA.
Up to another seven members with expertise in fields including climate science, economics, emissions trading, climate change mitigation and finance will be appointed to the CCA in coming months. The Chief Scientist will be an ex officio member.
The CCA's legislative functions include making recommendations to the Government on future pollution caps under the carbon pricing mechanism.
The CCA will also provide advice on the performance of the carbon price and other climate change initiatives and will track progress towards Australia's pollution reduction targets.
It will conduct regular public reviews and its reports will be made public.
The CCA will start operating from July 2012.
It will complete its first review of the carbon price mechanism, which will provide recommendations on the first five years of pollution caps, by February 2014. The CCA will also review the Renewable Energy Target legislation by the end of 2012.