Essay by Eric Worrall
In the midst of skyrocketing energy prices and domestic gas shortages, the Aussie Government has congratulated itself for missing its first emissions target.
Federal government releases first ‘climate change statement’, but remains behind on emissions targets
By national science, technology and environment reporter Michael Slezak
Key points:
The government on Thursday delivered Australia’s first annual climate change statement
It is also released an emissions projection report, which is part of the Australia’s new Climate Change Act
Scientists say that for Australia to help stop global warming it should cut emissions by about 74 per cent by 2030
The Albanese government says despite being behind on its promised target of a 43 per cent emissions reduction by 2030, Australia is on track to achieve a 40 per cent reduction.
“I’m pleased with how much the government has achieved,” said Climate Change and Energy Minister Chris Bowen.
“Pleased, but not satisfied … there is so much more to do.”
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The government also released independent advice from the Climate Change Authority, which Mr Bowen said showed just how much effort was required to reach the 43 per cent target.
The report said to achieve a 43 per cent reduction by 2030 and net zero by 2050, the “decarbonisation rate needs to be at least 17 million tonnes of carbon per year”.
That would require a 40 per cent faster rate of decarbonisation than has occurred since 2009, Mr Bowen said.
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To be fair the Aussie Federal Government does have a plan to contain spiralling prices during their planned shutdown of coal and gas extraction – the latest news is the Aussie Federal Government plans to impose price caps on fossil fuelproviders.
Price caps can have a severe negative impact on investment and availability. President Nixon famously imposed a 90 day price cap on gasoline in 1971. The result was a catastrophic multi-year drop in availability. The last price caps were removed by President Reagan, as one of his first acts as President.
Australia’s political leaders have not explained why they believe their price caps will work, why this time will be different.