1. Comply with the regulatory framework unique to emissions markets
   • Identify the domestic and international regulatory framework within which emissions reduction schemes are placed
   • Identify the key legislation, regulation and industry codes of practice relevant to operating within Australian emissions markets
   • Comply with relevant legal and regulatory principles when operating in emissions markets
   • Discuss regulatory risk for both voluntary and regulated emissions markets and determine possible impacts of pending regulatory or legislative change
2. Evaluate the scope and impact of the emissions market
   • Identify regulated and voluntary carbon markets and outline how they operate
   • Distinguish the respective supply and demand drivers for voluntary and regulated markets
   • Describe price drivers for emissions products
   • Differentiate participants in carbon markets and the motivations for their participation
   • Distinguish the functions of the primary and secondary emissions markets
   • Discuss auction types and processes
   • Describe the functions, requirements and rules for registries
3. Identify the types of emissions products, their characteristics and liabilities
   • Compare the different types of emissions products available of emissions instruments traded in the compliance and voluntary markets
   • Identify the key features of compliance market products
   • Describe the risks inherent within each product and their potential impact in a given context.
   • Describe transactional processes for each product, including acquiring, transferring and surrendering
   • Describe the tax treatment of emissions products, including deductibility of costs where relevant
4. Apply knowledge of emissions products
   • Determine relevant market information influencing the market
   • Analyse relevant information when selecting products for an emissions markets transaction
   • Devise strategies for using emissions market products
   • Seek advice and guidance of specialist expertise where required
   • Apply knowledge of financial market transactional processes when operating in emissions markets
   • Complete relevant documentation and complete any additional organisational processes
5. Maintain emissions market knowledge
   • Relevant emissions trading markets sources are reviewed regularly and any changes are applied in daily work
   • Maintain professional competence in market knowledge in accordance with codes of conduct and/or organisational requirements
   • Processes for maintaining up-to-date knowledge about relevant aspects of emissions trading markets are implemented

Not applicable

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.