The federal government has set a national target to reduce emissions by 62–70% below 2005 levels by 2035.
Prime Minister Anthony Albanese said this target is ambitious, achievable, and in Australia’s national interests.
He said it sends the right investment signals and responds to the science with a practical plan.
“It builds on what we know are the lowest cost actions we can deliver over the next decade while leaving room for new technologies to take things up a gear,” Albanese said.
The target is based on advice provided by the Climate Change Authority (CCA) which is required by law to provide government with independent, expert advice.
In a statement the CCA said the advice is built on rigorous methodology.
“It starts with the climate science and extends through whole-of-economy modelling, sector-by-sector analysis, deep engagement with stakeholders, insights from geo-economics, and structured expert thinking to ensure recommendations are both robust and practical,” the statement said.
Responding to the new target, the Climate Council said there are implications for the top end and the bottom end of that 62 to 70 per cent range.
“The top end of the range, 70%, is closer to what is needed to protect Australians, and a step up compared to our current trajectory,” the council said in a statement.
“However, at the bottom end of the range, a 62% cut falls dangerously short of what’s needed to protect Australians and our way of life, and is aligned with more than 2ºC of warming globally.
“In the face of catastrophic risks, this 62% target is too timid for the times."
As part of the new climate target the government announced $85 million of new spending to support energy efficiency and electrification.
This includes plans to:
- Modernise the Greenhouse and Energy Minimum Standards (GEMS) Act, which sets minimum efficiency standards for appliances and has saved households at least $12 billion dollars to date;
- Expand the Nationwide House Energy Rating Scheme (NatHERS) to cover existing houses, to help Australian families understand how efficient their home is and what they can do to improve it;
- Invest in the National Australian Built Environment Rating System (NABERS), which gives commercial building owners information about the efficiency of their building;
- Expand the Commercial Building Disclosure (CBD) program beyond offices to provide a market driver for efficiency and electrification in buildings across the economy;
- Task AEMO with producing a new Demand-side Statement of Opportunities that properly quantifies the role of efficiency, electrification and energy flexibility in driving down the cost of energy for households and businesses.
The Energy Efficiency Council CEO, Luke Menzel, said these investments provide a solid foundation for the government’s energy performance agenda.
“Home energy ratings will help build momentum for a wave of renovations that put many more Australians in efficient electric homes,” Menzel said.
“Expanding the commercial building disclosure program will give many more businesses the tools they need to get off gas.”