Safeguard Mechanism · 2023–24
Australia's 233 largest emitters,
ranked by compliance
Every facility covered by the Safeguard Mechanism — mines, smelters, LNG plants, steelworks, cement factories. Ranked by how far above or below their baseline obligation they reported in 2023–24. Data sourced from the Clean Energy Regulator.
How the Safeguard Mechanism works. Australia's largest industrial emitters — those releasing more than 100,000 tonnes of CO₂-equivalent per year — must keep their emissions below an annual baseline. That baseline steps down each year, tightening the obligation. When a facility exceeds its baseline, it must either reduce emissions or purchase carbon credits (ACCUs or SMCs) to cover the gap. Buying credits is legal under the scheme — but it means a facility's on-site footprint isn't shrinking. The question of whether credit purchases represent genuine climate progress is contested.