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Highlights
- In the Glasgow Summit COP26, countries like China, India and Australia refused to pledge to achieve a net-zero emission target.
- Australia was invited to reconsider their emission targets.
- Morrison government refused to reconsider the same.
In the Glasgow Summit COP26, countries like China, India and Australia refused to pledge to achieve net-zero emission target by 2030 or 2050. These nations are heavily dependent upon fossil fuels for generating energy. Few countries like Australia have been called upon for revisiting their 2030 emission targets. Scott Morrison, Prime Minister of Australia, refused to reconsider their 2030 commitments and present the same at COP27 in Egypt.
On Monday, in a statement, Morrison said that Australia would aim to achieve its Paris target to cut the emission level of 2005 by 26% to 28%.
Related article: PM Morrison to attain net-zero emissions by 2050
Morrison added that “We are going to achieve a 35% reduction in emissions by 2030. That is what we are going to achieve, and that is what matters.” The main objective is to “meet and beat” our policy targets. The government said that they will invest over $21 billion in the field of cutting down emissions and increasing the investment to $120 billion by 2030 in both public and private sectors.
At the Glasglow summit, Australia evolved as the only developed nation that refused to meet the zero-emission target by 2030 or 2050. Joyce has justified reasons for not participating in the pledge to cut down on emissions. Australia has to consider several aspects such as export of coal, impact on the revenues, impact on Australian dollar and increase in the prices of imports. Moreover, the standard of living will be affected significantly.
In case Australia cuts down on coal production. The importers will purchase coal from the other coal-producing countries like Mongolia or India, and no effect will be observed on the environment.
Bottom Line
With the elections around the corner (May 2022) in Australia, such adverse reports at the global level can have a significant impact on the Morrison's vote bank Morrison. Anthony Albanese has already started targeting the government, stating that the Morrison government is not doing enough for climate change.
