Australia’s emissions reduction target will not be reviewed until 2015 despite a Climate Change Authority report labelling the current 5 per cent cut to 2020 “inadequate”.
Environment Minister Greg Hunt stuck to his 2015 timetable as the authority yesterday urged a higher target of between 15 and 25 per cent.
The CCA, in a draft report released yesterday, warned that delaying tougher action on climate change would only increase the costs of taking action beyond 2020. The CCA said there were substantial low- to medium-cost emissions-reduction opportunities across all sectors of the economy.
This included using energy more efficiently in homes and businesses, continuing to reduce land clearing and adopting cleaner technologies.
It also called on the government to consider buying international carbon abatement permits to push the emissions reductions above 5 per cent.
“The authority’s present thinking is that a target of 15 per cent by 2020 is the minimum option consistent with what, in the authority’s view, represents an equitable share for Australia of the estimated global emissions budget to 2050,” the report said.
Mr Hunt, whose carbon tax repeal legislation would abolish the CCA, said: “We will consider future targets in 2015. We have no plans to purchase international permits.”
CCA chairman Bernie Fraser said the main finding in the draft report was that the 5 per cent reduction below 2000 levels by 2020 was “inadequate”. “In particular, because if we stick with that target of minus 5 per cent that would imply improbably steep reductions in emissions in the post-2020 years.”
Australian Chamber of Commerce and Industry chief economist Greg Evans said the CCA was showing it had no understanding of economic reality if it was recommending aggressive emission targets. Australian Industry Group chief executive Innes Willox said talking about deeper emissions targets was “pie in the sky” without an economically responsible plan to reach them.
But Climate Institute chief executive John Connor said Australia’s 5 per cent target was no longer credible globally.
“The government can stonewall its revision but this report will be in the top drawer of climate negotiators and global leaders in nations like the US and China whom, as this report reveals, are increasing momentum on climate action,” he said.
