Morrison: Australia on track to beat 2030 emissions target

Be the First to Comment Read

Morrison: Australia on track to beat 2030 emissions target

 Morrison: Australia on track to beat 2030 emissions target
Image source: Roschetzky Photography

Highlights 

  • Scott Morrison has said Australia is on track to reduce carbon footprints by 35% below 2005 levels by 2030.
  • According to Morrison, the country has already lowered its carbon emissions by more than 20% from 2005.
  • Some climate experts are of the opinion that Australia’s target of 35% reduction in emission by 2030 is not up to snuff.

Australian Prime Minister Scott Morrison said on 26 October 2021 that Australia is on track to reduce carbon footprints by 35% below 2005 levels by 2030. These targets were set back in 2015 in the Paris climate conference.

Greenhouse gas emmission

Image Source: marcinjozwiak from Pixabay

 Referring to the 2030 target, the PM said, “We will meet it and we will beat it… we may even achieve better”.

 Let us have a look at five takeaways from Morrison’s take on emission reduction by 2030.

Read More: Can we rely on carbon capture for climate goals?

  1. According to Morrison, the country has already lowered its carbon emissions by more than 20% from 2005 and is all set to commit further to achieve a target of net zero emissions by 2050 in the upcoming Glasgow conference. He said, “it is not a revolution but a careful evolution to take advantage of changes in our markets”.

 

  1. According to some experts, in order to achieve its emissions target well on time, Australia would need to pick up pace and use tougher measures than what the government is currently proposing. While the government believes that its current technology is enough to lead it to 85% of the way towards the net zero emissions target. The rest 15% is expected to be taken care of by the emerging technologies.

 

  1. Australia is one of the key and largest exporters of liquified natural gas (LNG) and coal. Morrison said that the government would not let the quest to achieve lower carbon emissions impact coal and gas production. He is also not in the favor to increase the costs incurred by households for consumption or by businesses for production.

 

  1. To boost the innovation and development of newer technologies, the government is expected to incentivise investments in the green technology space, which is expected to fetch more than US$20 billion in low-emissions technology by 2030. However, the government is yet to come out with an economic and climate modelling behind the plan.

 

  1. Some climate experts are of the opinion that Australia’s target of 35% reduction in emission by 2030 is insufficient and is relatively weak compared to other peers such as the US vowing to hit the 50% - 52% reduction target below 2005 levels. Britain has planned to cut emission by a sizable 68% below 1990 levels.

Bottom Line

Australia has a sizable contribution to the cumulative greenhouse emissions of the world due to its heavy reliance on coal-fired power. Although an emissions reduction target of 35% below 2005 levels might seem ambitious, it is lower than that of a few peers and UN’s 45% reduction demand.

Nonetheless, investments in newer green technologies, along with current and upcoming policy measures are making Morrison confident about the current set target.   

Read More: How are 5 NZX energy stocks performing amid RBNZ’s latest report?

Disclaimer

Speak your Mind

Featured Articles

Ad
kalkine logo

GET A FREE STOCK REPORT

Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK