Extract from The Guardian
Coalition claims nation is making good progress towards cutting
emissions by 26% by 2030, but report by PricewaterhouseCoopers shows
more is needed
Smoke billows from the Hazelwood coal-fired power station in Morwell,
Victoria. Analysts believe the emissions cuts achieved through the
Coalition’s Direct Action plans will fall short of meeting the 2030
target.
Photograph: Bloomberg/Getty Images
The federal government has said it is making good progress in cutting
greenhouse gases after a new report found that Australia will have to
double its historic rate of decarbonisation if it is to meet its climate
goals.
Australia will have to slash its carbon intensity by 4.4% each year if it is to meet its goal of reducing emissions by at least 26% by 2030, based on 2005 levels, according to the PricewaterhouseCoopers (PwC) analysis.
This rate of required emissions reduction is nearly double the average 2.4% cut managed by Australia annually since 2000.
Australia’s rate of decarbonisation is among the best of the world’s largest economies, PwC said. If Australia maintained its 4.7% reduction in carbon intensity in 2014, it could hit the 2030 target. However, the 2014 figure includes six months during which the former Labor government’s carbon price of $24 a tonne was in place.
A spokeswoman for Greg Hunt, the federal environment minister, said the report is further evidence that Australia’s emissions reduction targets are “strong, credible, responsible and comparable with the rest of the world.”
“Australia has an impeccable track record of delivering on our climate commitments,” she said. “The success of the first auction of the emissions reduction fund paves the way to achieve more emissions reductions through the fund’s second auction on 4-5 November.
“Other measures previously outlined include vehicle and energy efficiency, phasing out hydrofluorocarbons, and facilitating renewable and low emissions technologies.”
However, there is room to do more, with the G20 economies requiring a 6.3% average annual reduction in order to meet an internationally-agreed target of keeping the world’s warming to below 2C compared with pre-industrial times.
According to the PwC analysis, the global economy has reduced its carbon intensity, which is emissions related to economic growth, by 1.3% a year since 2000. Last year saw the biggest drop yet, at 2.7%.
But these reductions are still not enough to meet the 2C target, which, if exceeded, will result in runaway climate change associated with punishing drought, damaging sea level rises and extreme weather events.
If current emissions cuts are maintained, the world will spew out enough heat-trapping gases to exceed the 2C limit by 2036, PwC said. The European Commission has said that national pledges to further cut emissions ahead of climate talks in Paris in December will still result in a 3C rise in average temperatures.
The federal government has said Australia’s emission reduction target places it among comparable nations although independent analysis suggests it lags at the back of the pack.
Australia still lacks a comprehensive plan to reduce emissions beyond a $2.55bn emissions reduction fund that hands out money to businesses that wish to reduce their greenhouse gas output. Analysts believe this plan will fall well short of the target without major modification, potentially including emissions trading, which the government has previously ruled out.
Australia’s energy is still overwhelmingly fossil fuel based, with coal, oil and gas accounting for 94% of the country’s energy demands, PwC said. However, coal consumption has slipped 18% since 2009 and energy from renewables such as wind and solar has increased by 72% over the same period.
Greens senator Larissa Waters said: “The Abbott government’s attacks on renewable energy are continuing under Malcolm Turnbull who has made a deal with the Nationals to retain the low 2030 target and not bring back an emissions trading scheme.
“We’re missing out on clean energy jobs because the Turnbull government is holding us back from this exciting transition that we need to save our environment and very way of life.”
Mark Coughlin, PwC Australia’s energy, utilities and mining leader, said: “The fundamental question remains as to whether Australia’s targets are ambitious enough, or consistent with what other countries are doing to limit global warming to within 2C of pre-industrial levels.
“Based on how Australia has tracked historically, you could argue there’s scope to be more ambitious.”
Australia will have to slash its carbon intensity by 4.4% each year if it is to meet its goal of reducing emissions by at least 26% by 2030, based on 2005 levels, according to the PricewaterhouseCoopers (PwC) analysis.
This rate of required emissions reduction is nearly double the average 2.4% cut managed by Australia annually since 2000.
Australia’s rate of decarbonisation is among the best of the world’s largest economies, PwC said. If Australia maintained its 4.7% reduction in carbon intensity in 2014, it could hit the 2030 target. However, the 2014 figure includes six months during which the former Labor government’s carbon price of $24 a tonne was in place.
A spokeswoman for Greg Hunt, the federal environment minister, said the report is further evidence that Australia’s emissions reduction targets are “strong, credible, responsible and comparable with the rest of the world.”
“Australia has an impeccable track record of delivering on our climate commitments,” she said. “The success of the first auction of the emissions reduction fund paves the way to achieve more emissions reductions through the fund’s second auction on 4-5 November.
“Other measures previously outlined include vehicle and energy efficiency, phasing out hydrofluorocarbons, and facilitating renewable and low emissions technologies.”
However, there is room to do more, with the G20 economies requiring a 6.3% average annual reduction in order to meet an internationally-agreed target of keeping the world’s warming to below 2C compared with pre-industrial times.
According to the PwC analysis, the global economy has reduced its carbon intensity, which is emissions related to economic growth, by 1.3% a year since 2000. Last year saw the biggest drop yet, at 2.7%.
But these reductions are still not enough to meet the 2C target, which, if exceeded, will result in runaway climate change associated with punishing drought, damaging sea level rises and extreme weather events.
If current emissions cuts are maintained, the world will spew out enough heat-trapping gases to exceed the 2C limit by 2036, PwC said. The European Commission has said that national pledges to further cut emissions ahead of climate talks in Paris in December will still result in a 3C rise in average temperatures.
The federal government has said Australia’s emission reduction target places it among comparable nations although independent analysis suggests it lags at the back of the pack.
Australia still lacks a comprehensive plan to reduce emissions beyond a $2.55bn emissions reduction fund that hands out money to businesses that wish to reduce their greenhouse gas output. Analysts believe this plan will fall well short of the target without major modification, potentially including emissions trading, which the government has previously ruled out.
Australia’s energy is still overwhelmingly fossil fuel based, with coal, oil and gas accounting for 94% of the country’s energy demands, PwC said. However, coal consumption has slipped 18% since 2009 and energy from renewables such as wind and solar has increased by 72% over the same period.
Greens senator Larissa Waters said: “The Abbott government’s attacks on renewable energy are continuing under Malcolm Turnbull who has made a deal with the Nationals to retain the low 2030 target and not bring back an emissions trading scheme.
“We’re missing out on clean energy jobs because the Turnbull government is holding us back from this exciting transition that we need to save our environment and very way of life.”
Mark Coughlin, PwC Australia’s energy, utilities and mining leader, said: “The fundamental question remains as to whether Australia’s targets are ambitious enough, or consistent with what other countries are doing to limit global warming to within 2C of pre-industrial levels.
“Based on how Australia has tracked historically, you could argue there’s scope to be more ambitious.”
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