Climate targets well out of reach after 2nd emissions auction

…according to criteria accepted by both Labor and Coalitions governments and now met because of rising ambitions and efforts of major emitters elsewhere – Australia’s target should have increased to -15% by 2020…Looking at duration of contracts, it appears only 45% (by volume) of mitigation effort will contribute to the 2020 target. The rest will be occur after 2020…In other words, only 51 million tonnes of emissions will have been cut by 2020, leaving Australia 85 million tonnes (36% of total) short of its -5% target and at least treble that amount for a -15% goal…Using this mechanism<ERF/DirectAction> Australia won’t meet, let alone exceed, even its very weak 2020 reduction target. The ERF would need well over A$3 billion to buy all the emissions needed for that goal.

>more> TheConversation

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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