Cost of compliance project
Since the last update, VicWater has been working through the recommendations contained within the Cost of Compliance report. A suggested approach to the recommendations will be tabled at the next Managing Directors Forum, which is being held on 4 August 2022.
Post the MDs Forum, VicWater will then begin work on the endorsed approach for responding to the recommendations.
Practical guidance documents to support the implementation of EPA revised guideline for water recycling
Since the last update, the consultants working on the project have continued to draft and refine the proposed guidance documents. The revised timeline is that the draft documents will be ready to be sent out for industry review and comment, prior to their finalisation, in early August 2022.
Carbon Offsets project
Since the last update, two working groups have been formed to support the delivery of Phase 2A of the Carbon Offsets project.
Phase 2A aims to confirm the benefits of a collective approach, the governance needs of the delivery model, and that the water corporations’ collective needs can be met at both the portfolio and project level.
To support the delivery of Phase 2A, two working group have been formed. The first group, the Portfolio Working Group, is working through what the project portfolio to achieve the required carbon offset targets could look like, and what risks, challenges and uncertainties need to be managed deliver the proposed portfolio. The Portfolio Working Group has met three times.
The second working group is the Governance Working Group, and they are looking at governance issues around any future collective procurement model for carbon offsets, any governance issues related to the proposed project portfolio, and establishing a risk appetite statement for the portfolio. They have meet once.
Phase 2A is currently on schedule to provide a report to Managing Directors by the end of September 2022.