12 December 2011

Mr K Stevenson

Chairman

Asian-Oceanian Standards Setters Group

C//o Australian Accounting Standards Board

600 Bourke Street (Level 7)

MELBOURNE VIC 3000

Dear Kevin

Emissions Trading Schemes

The Group of 100 (G100) is an organization of chief financial officers from Australia's largest business enterprises with the purpose of advancing Australia's financial competitiveness.

The G100 supports the efforts of the AOSSG in urging the IASB to accelerate its project dealing with accounting for emission trading schemes. The G100 believes that it is important that the IASB project be finalized before the introduction of a flexible regime in Australia in 2015.

We note that in the absence of authoritative guidance diverse practice has developed in Europe on accounting for its scheme. It would be unfortunate if this outcome were also to occur in Australia and the region.

Yours sincerely

Peter Meehan
Chief Executive Officer

c.c. AASB

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