The Clean Energy Regulator's release of the latest corporate emissions data for 2011-12 today confirms that the 25 biggest emitting corporate groups are responsible for around 70 per cent of reported emissions.
These entities are predominantly in the electricity sector and have been working hard to reduce emissions since carbon pricing was introduced on July 1, 2012.
In the National Electricity Market, industry data indicates that in the first six months of carbon pricing emissions are down 8.6 per cent on the same period in 2011 – a saving of 7.6 million tonnes of emissions.
The federal government is using the report to spruik the benefits of its climate change strategy and Renewable Energy Target (RET).
But overall the results were mixed. For example, the data shows that almost 200 corporate groups increased their emissions in 2011-12 while around 200 reduced emissions.
The Coalition's climate change policy has come under a lot of scrutiny in the past week as some sections of industry question how the Opposition will repeal carbon pricing admitting it won't be simple and could take a considerable amount of time to do it successfully.
As reported in CCN Online yesterday, the Shadow Treasurer Joe Hockey, had to clarify the Opposition's position on providing compensation to companies hit by the carbon tax.
The Coalition is committed to the removal of carbon pricing but will not be providing compensation.