The NSW Greenhouse Gas Abatement Scheme (GGAS) creates emissions benchmarks for electricity retailers in the Australian state of New South Wales. Itvcommenced on 1 January 2003 and thus is one of the first mandatory greenhouse gas emissions trading schemes in the world.

GGAS aims to reduce greenhouse gas emissions associated with the production and use of electricity, since this is the most polluting sector in Australia due to large reliance on coal.

It sets emission benchmarks for the electricity retailers, which are based on the size of participants share of the electricity market and are gradually decreased.

It implements a market for project-based activities (Accredited Certificate Providers, ACP) to offset greenhouse gas emissions from electricity retailers and certain other parties who buy or sell electricity in NSW.

Initially scheduled until 2012, the NSW government recently announced to extend the scheme to 2020.

http://www.greenhousegas.nsw.gov.au/