Australia is on track to deliver its 2030 emissions reduction target, the federal government said ahead of a report on the country’s path to curbing its carbon footprint.
Chris Bowen, Australia’s Minister for Climate Change and Energy, is expected to reveal in his annual climate statement to Parliament on Thursday that Australia is set to cut emissions by 42.6% by 2030 compared to 2005 levels under current policy settings. That’s in line with the Labor government’s target of a 43% emissions reduction, and a much larger cut compared to the 32% reduction expected two years ago.
Australia’s current climate plan targets net zero greenhouse gas emissions by 2050, as well as an 82% renewable electricity target.
The country is also betting big on low-carbon hydrogen to decarbonize industries.
As part of the Paris Agreement, now Australia, like all other countries, will have to update their 2035 targets, the so-called Nationally Determined Contribution (NDC), by the end of February 2025.
Despite the government claiming success in emissions reductions through 2030, environmentalists want more.
The Australian Conservation Foundation, which advocates for a net zero target for 2035, said the 2030 target to cut emissions remains too weak.
“The government’s 43% target is consistent with more than 2°C of global warming, meaning longer heatwaves, more intense bushfires and worse flooding for Australians,” said the Australian Conservation Foundation’s National Climate Policy Adviser Annika Reynolds.
“While its renewable energy policies are cutting emissions, the government has facilitated further warming by approving 27 new or extended coal and gas projects since assuming office.”
Australia will continue to back exploration and increased production of natural gas as the fuel will play a key role in the country’s transition to a net-zero economy by 2050 and help provide a reliable source of energy to Australia’s allies, the Australian government said in its Future Gas Strategy earlier this year.
By Tsvetana Paraskova for Oilprice.com
