Australia Poised to Achieve 2030 Emissions Reduction Target
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Canberra, Nov 28 (NationPress) The Australian government announced on Thursday that the nation is well-positioned to meet its 2030 emissions reduction goal, with new data indicating enhanced projections.
In an annual climate change report presented to parliament, Minister for Climate Change and Energy Chris Bowen revealed that Australia is anticipated to reduce its greenhouse gas emissions by 42.6 percent from 2005 levels by 2030, an increase from the previously projected 37 percent cut in 2023. The government has pledged to lower Australia's emissions by 43 percent from 2005 levels by 2030, according to the Xinhua news agency.
'Our comprehensive reforms and practical policies are achieving what we've always asserted -- Australia's 43 percent target is both ambitious and attainable,' Bowen stated.
Government projections indicate that Australia's total greenhouse gas emissions over the decade leading to 2030 are expected to be 152 million tonnes, or 3.4 percent, lower than the nation's emissions budget.
In contrast, the 2023 climate change report estimated Australia would exceed the 10-year budget by 1 percent.
Australia has a designated emissions budget of 4,381 million tonnes of carbon dioxide equivalent (CO2e) for the period from 2021 to 2030 under the Paris Agreement.
The government has also established a target for 82 percent of Australia's electricity to be sourced from renewable energy by 2030.
A quarterly report released by the government's Clean Energy Regulator (CER) on Thursday indicated that between 7.2 and 7.5 gigawatts (GW) of wind and solar energy generation capacity is set to be integrated into the electricity grid in 2024, exceeding the previous record of 7.16 GW added in 2021.
The report forecasted that renewables will contribute to an average of 45 percent of Australia's electricity generation by 2025.
Bowen announced on Tuesday that the government has initiated a review of how the National Electricity Market (NEM), which supplies power to six of Australia's eight states and territories, will function in the coming decades.
