The federal government has appointed former Reserve Bank of Australia governor and superannuation industry veteran Bernie Fraser as chairman of the yet to be established Climate Change Authority (CCA).
The CCA will be set up to provide advice on aspects of the carbon pricing mechanism.
The government intends to put annual caps on the amount of carbon pollution that can be released into the atmosphere by entities covered by the carbon price when the carbon pricing mechanism moves to a flexible price emissions trading scheme.
The CCA will make recommendations to the government on future pollution caps under the carbon pricing mechanism.
The organisation will also provide advice on the performance of the carbon price and other climate change initiatives and will track progress towards Australia's pollution reduction targets.
It will conduct regular public reviews and its reports will be made public.
The first review will provide recommendations on the carbon pricing mechanism's first five years of pollution caps and its publication is planned for February 2014.
The government will appoint another eight members to the CCA.
Fraser announced in April this year his resignation as a director of AustralianSuper and Cbus after 15 years in the roles.
He is still the chairman of Members Equity Bank.
