The Australian Government announced on 11 August 2015 it will reduce greenhouse gas emissions to 26–28 per cent below 2005 levels by 2030. The Government says the target is a step up from Australia’s current target to reduce emissions to five per cent below 2000 levels by 2020.
The government expects to achieve its carbon emission reduction target through Direct Action. The key element of the Direct Action Plan is the Emission Reduction Fund which funds carbon reduction programs, and the Safeguard Mechanism which aims to ensure emissions reductions paid for through the Emissions Reduction Fund are not offset by significant increases in emissions elsewhere in the economy.
The overall design of Australia’s 2030 target policy framework will be further considered in detail in 2017–2018. At that time, lessons from implementation of the Emissions Reduction Fund will be available.
The Government says, in absolute terms Australia’s target sits within the range of efforts by other major economies. In terms of reduction in emissions per capita and the emissions intensity of the economy, Australia’s emissions intensity and emissions per person fall faster than many other economies. Australia’s emissions per person falls by 50–52 per cent between 2005 and 2030 and emissions per unit of GDP by 64–65 per cent.
Source: Department of the Environment analysis