Analysis/reports Ernst And Young On Various Contracts.

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Ernst and Young conducted analysis for DCCEEW in December 2023 to support reform of the Safeguard Mechanism by identifying international best practice benchmarks for oil and gas emissions intensity. The work examined extracted oil and gas and stabilised crude oil/condensate production variables, establishing global emissions intensity performance baselines, identifying world's best practice facilities (both international and Australian), and calculating emissions intensity values for relevant facilities with adjustments for Australian conditions. EY delivered a data spreadsheet underpinning its findings on facility identification, exclusions, and data quality assessments. The engagement was scoped explicitly and did not constitute an audit or assurance opinion, with findings intended solely for DCCEEW use in setting Safeguard Mechanism baseline thresholds.