GIA introduces cost-sharing between Government and Industry for certain costs related to readiness and response activities. This section provides guidance and information related to the financial arrangements under GIA, including cost sharing and transitional discounts.
Readiness cost sharing commences from July 2014, with transitional discounts applying until June 2020. Response cost sharing commences from July 2017, with funding transition applying from July 2017 to June 2023. Minimum commitments are not eligible for cost-sharing.
Section 5 of the GIA Deed outlines the financial arrangements that apply to activities carried out under GIA, including:
- A cap on industry contributions at 50% of the total cost of an activity
- The scenario for how industries' and government's share of costs will be determined
- In-kind contributions
- Fiscal caps
- Financial processes
Schedule 2 of the GIA Deed defines the cost share categories.
A joint working group is currently developing guidance for establishing cost shares and setting fiscal caps in line with the GIA Deed. For more information please see the Financial Arrangements Joint Working Group page in the Activities section of this website.
Factsheets and Secretariat guidance papers provide additional information on financial arrangements under GIA.
The factsheets explain transitional discounts and the Deed's provisions related to cost-sharing.
The GIA transitional discount and costs calculator enables potential signatories to estimate their share of costs for an agreed activity.
The guidance papers provide non-binding advice in relation to limiting spending under GIA.