Updated projections confirm Australia is on track to meet and beat its 2030 Paris target thanks to strong and practical action to reduce emissions by the Morrison Government.
The Australia's emissions projections 2020 report, released today, shows that Australia is on track to beat its 2030 target by 403 million tonnes, including 459 million tonnes of past overachievement.
The projections confirm that Australia's approach to use technology not taxes will continue to drive down emissions.
Over the last two years, Australia's 2030 position has improved by 639 million tonnes (13.2 per cent of the emissions budget). This is equivalent to taking all of Australia's 14.7 million cars off the road for 15 years.
Minister for Energy and Emissions Reduction Angus Taylor said Australia is playing its part in the global response to climate change by meeting and beating our international targets.
"When we make commitments, we meet them," Minister Taylor said.
"We have a clear plan to meet and beat our 2030 target and the updated projections reflect Australia's strong performance.
"Action and outcomes are what matter, and our track record is one that all Australians can be proud of."
The improvement is largely due to the Morrison Government committing more than $5.3 billion to new emissions reduction measures over the last two Budgets.
This includes a $1.9 billion investment package in future technologies to lower emissions, create jobs, cut costs for households, and improve the reliability of our energy supply.
Australia's world-leading adoption of renewables is also driving down emissions, and the Government is acting to ensure that Australians can continue to adopt new energy technologies through initiatives like the $1 billion Grid Reliability Fund.
On a per person basis, Australia is deploying renewables 25 per cent faster than Europe's four largest economies combined - Germany, the United Kingdom, France and Italy - and ten times faster than the global average.
Australia's Technology Investment Roadmap will guide an expected $18 billion of Government investment over the next 10 years in the next generation of energy technologies.
Under a scenario aligned with the Technology Investment Roadmap, Australia is projected to beat its 2030 target by 145 million tonnes (without relying on past overachievement). Under this scenario, Australia's emissions are projected to be 29 per cent below 2005 levels by 2030.
COVID19-related restrictions have had a short, historic impact on emissions, with the projected impact of the pandemic on future emissions largely limited to an acceleration of pre-existing trends.
The Quarterly Update of Australia's National Greenhouse Gas Inventory: June 2020 confirmed Australia beat its 2020 target by 459 million tonnes.
The 2020 emissions projections report is published at: industry.gov.au/AEP2020
