The Albanese Government has today released the March 2024 Quarterly Update of Australia's National Greenhouse Gas Inventory.
It shows that in the year to March 2024, 440.2 million tonnes of carbon dioxide equivalent emissions were recorded. This is 2.7 million tonnes or 0.6% lower than the year to March 2023 and reflects more reliable renewables coming online.
Emissions in the March 2024 quarter were impacted by warmer than average temperatures leading to increased electricity demand, while the amount of renewable energy increased to reduce the emissions-intensity of electricity generation.
Australia's overall emissions are now estimated to be 28.2 per cent below the year to June 2005.
This decrease is expected to continue, with preliminary estimates for the year to June 2024 down 0.9% or 3.8 million tonnes lower than the same period last year.
Minister for Climate Change and Energy Chris Bowen said the Albanese Government is implementing robust but responsible policies to drive emissions down while growing jobs and the economy.
"The latest inventory shows our Reliable Renewables Plan is working but after a decade of denial and delay we must continue to drive action across all sectors of the economy.
"The Albanese Government is embracing the economic opportunities of a net zero economy while making a practical difference to reduce emissions including through a bolstered Safeguard Mechanism and New Vehicle Efficiency Standard.
"Australia is lucky to be one of the sunniest places in the world, with some of the best solar and wind resources - harnessing them will ensure the clean, cheap, reliable and resilient energy system that Australians deserve.
"Our Reliable Renewables Plan is the only plan supported by the experts while Peter Dutton's anti-renewables obsession ignores the fact reliable renewables are driving prices down, reducing emissions and securing Australia's future prosperity."
The Albanese Government's policies, including our Capacity Investment Scheme, Safeguard Reforms and New Vehicle Efficiency Standards, as designed to accelerate emissions reductions to achieve our 43% target by 2030.
This report reinforces the outlook from the 2023 emissions projections that Australia is on track to achieve our Paris Agreement target of 43% by 2030.
The Quarterly Update of Australia's National Greenhouse Gas Inventory: March 2024 can be found here: https://www.dcceew.gov.au/climate-change/publications/national-greenhouse-gas-inventory-quarterly-update-march-2024
