Other legislation, policies and governance events
As a corporate Commonwealth entity, CEFC activities are governed by the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and its subordinate instruments. The PGPA Act imposes various duties, responsibilities and accountabilities on the CEFC Board, both as a collective and as individuals, and on the CEFC Executive and employees. Note 1 to the Financial Statements contains information about how the PGPA Act impacts the financial governance of the organisation and the preparation of the accounts. There were no significant issues of non-compliance with finance law identified and reported to the responsible Ministers in the 2021–22 reporting period.
Other government policy
The CEFC works closely with the Department of Climate Change, Energy, the Environment and Water (formerly the Department of Industry, Science, Energy and Resources) and several other portfolio agencies, including ARENA, to contribute to the delivery of Australian Government policy initiatives relating to emissions reduction.
During 2021–22, notable examples included assisting the department with aspects around implementation of the Powering Australia Plan, including the formulation of the Rewiring the Nation policy and the National Reconstruction Fund.
The CEFC, being a corporate Commonwealth entity, is not formally bound by other Australian Government policies, including the Public Service Act 1999. Notwithstanding this, the CEFC pays due regard to policy guidance that is issued by Government when considering the implementation of CEFC operations, as appropriate. During the 2021–22 reporting period, this was evident with respect to the Performance Bonus Guidance: Principles governing performance bonus use in Commonwealth entities and companies (2021) and the Public Sector Workplace Relations Policy (2020). Following consideration in the 2021–22 reporting year, this guidance will be reflected in the CEFC remuneration structure to take effect from 1 July 2022. Refer to Appendix G.
Other statutory requirements
As a corporate Commonwealth entity, the CEFC complies with a range of other statutory reporting requirements. An index to these other Annual Reporting Requirements can be found at Appendix A.