australia

• • Australia’s warmest year on record was 2019, with the temperature 1.52 degrees above average. 
  • The Australian government’s promise to ‘take the country forward on climate action’ has failed to deliver. 
  • The CAT’s rating of Australia's climate targets and action remains ‘insufficient’.
  • Ranked ‘critically insufficient’, Climate finance contributions to date are low and not line with any interpretation of a fair approach to meeting the Paris Agreement 1.5 degrees limit. 
• EFFECTIVENESS: Emission Reductions Fund

  CONTEXT

  • Voluntary scheme that incentivises organisations and individuals to adopt new practices and technologies to reduce their emissions and store carbon. 
  • Landowners and farmers who adopt approved ERF methods can earn Australia Carbon Credit Units. 
  • These can be sold to the government to generation income streams, while benefiting the environment. 
• EFFECTIVENESS: Emissions Reduction Fund

  NUMBERS

  • It’s aim to help achieve reduction of 26-28% of emissions below 2005 levels by 2030.
  • In 2020, a total of 13.4 billion carbon credits were delivered with more than $165 million in funds flowing to carbon projects in return. 
  • Over 80 million tonnes of emissions has now been reduced. 
• EFFECTIVENESS: Paris Agreement

  • When the coalition signed up to the paris Agreement in 2015, it committed to cutting emissions by 26-28%, on 2005 levels, by 2030. 
  • In early 2022, the UN Secretary-General criticised Australia for not doing more to strengthen its 2030 emissions reduction target, calling Australia a ‘holdout’.
  • The labour government set out amending Australia’s target to a 43% cut by 2030. 
• • Australia has an abundance of renewable and non-renewable energy sources, including fossil fuels. 

  According to the Government, ‘our energy resources power our homes, cars and industry, and are a key contributor to Australia’s economic prosperity’.
• INEFFECTIVENESS: National Interests

  • The government’s over-reliance on reported emission reductions in the land sector obscures its continuous support for fossil fuels
  • According to the Minerals Council of Australia, Australia exported $127.4 billion worth of coal in 2022-2023.
  • Moreover, the coal industry employed around 48,000.
• INEFFECTIVENESS: Lack of International Cooperation

  • Climate Change Authority Found that Australia was not on track to meet the target and noted emissions had actually risen over the year to June 2023, by 4 million tonnes. 
  • Further, Peter Dutton declared that the Coalition would ‘dump’ Australia’s 2030 climate target, adding there was ‘no sense in signing up to targets you don’t have any prospect of achieving’.
• COP27

  • Australia has climbed just four places to rank 55th out of 63 in the Climate Change Performance Index launched at the COP27 in Egypt. 
  • The index assesses 59 countries which are collectively responsible for more than 90% of global emissions. 
  • Australia’s new 2030 emissions reduction target remains one of the weakest in the developing world. 
  • Yet to start phasing out coal and gas production, as well as publicly funding it. 
  • Australia is falling short on international climate finance.