Dept of Climate Change, Energy, Environment & Water
Australia submitted its first Biennial Transparency Report (BTR) on 19 December 2024.
The report is a new requirement as a party to the Paris Agreement.
Australia's timely submission reaffirms its commitment to global transparency on climate action. It is the first BTR submission under the Enhanced Transparency Framework.
Australia's BTR demonstrates the action Australia is taking to meet climate commitments.
BTRs help to track global progress towards the Paris Agreement goals. This Includes efforts to limit the global average temperature increase to 1.5°C above pre-industrial levels.
Key highlights
- Australia is on track to meet its emissions targets. With current policies and measures Australia is projected to beat its 2030 target, on a budget basis. Cumulative emissions from 2021 to 2030 are projected to be 3% below the budget for this period.
- Australia's emissions are projected to be 42.6% below 2005 levels in 2030. This is just shy of the 2030 single-year point target of 43%.
- Renewables accounted for 38% of total electricity generation in Australia's largest electricity grid in 2023-24. This is an increase from 21% 5 years ago.
- Australia's energy system is moving towards 82% renewable electricity generation by 2030. Major programs like the Capacity Investment Scheme and Rewiring the Nation are supporting progress.
- Reforms to the Safeguard Mechanism have been in place for one year. Australia's emissions projections show the legislated Safeguard Mechanism outcomes will be met.
- The Future Made in Australia plan will support investment in new clean energy industries. These include green metals, renewable hydrogen and low carbon liquid fuels.
- A National Climate Risk Assessment will help prioritise the things that Australians value the most that are at risk from climate change. Our National Adaptation Plan will establish a framework for addressing these priority climate risks.
- Australia's climate finance provided and mobilised over $1 billion in 2020-21 and 2021-22. Australia has since strengthened this commitment and is expecting to deliver $3 billion in climate finance by 2025.
Read the report on the UNFCCC website.
/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.
