The main purpose of this Act is to help reduce the impact of greenhouse gas emissions on the environment.
The main purpose is achieved principally by facilitating the process called greenhouse gas geological storage, also called greenhouse gas storage (GHG storage).
This Act facilitates GHG storage by:
- providing for the granting of authorities (called GHG authorities) to explore for or use underground geological formations or structures to store carbon dioxide, or carry out related activities; and
- creating a regulatory system for the carrying out of activities relating to GHG authorities.
Other purposes of this Act are to ensure the following for the carrying out of the activities:
- minimisation of conflict with other land uses;
- constructive consultation with people affected by the activities;
- appropriate compensation for owners or occupiers adversely affected by the activities;
- responsible land and resource management.