The Carbon Competitiveness Incentive Regulation (CCIR) replaced the Specified Gas Emitters Regulation (SGER) on Jan 1, 2018.
The CCIR applies to facilities that emitted 100,000 tonnes or more of greenhouse gases (GHGs) in 2003, or a subsequent year. (Sec. 3) A facility may be eligible to opt-in to the CCIR if it emits more than 50,000 tonnes of GHGs per years, and is an energy-intensive, trade-exposed industry. (Sec. 4)
Each facility shall calculate its output based allocation and by year three, not exceed the annual emissions calculated this way (the baseline). (Secs. 5, 6) Alternatively, the regulator can assign a benchmark emissions level to a facility. (Sec. 8) Facilities can buy emission offsets or fund credits to achieve compliance, or generate emission performance credits for others to purchase if they emit below their compliance target. (Secs. 15-19)
Compliance reports and annual forecasting reports are required. Records shall be kept for at least 7 years.