Independent research into Australia's Paris climate target shows that we are on track to meet our Paris target five years early.
According to research undertaken by Australian National University (ANU) Professor Andrew Blakers, the electricity sector is on track to deliver Australia's entire Paris emissions reduction targets by 2025.
“The ANU research confirms what the Liberal National Government has been saying for some time: that we will meet our Paris target in a canter,” Federal Member for Hasluck, Ken Wyatt MP, said.
“The Government’s most recent official projections show that we will meet our 26 per cent target in the National Electricity Market (NEM) as early as 2022”.
According to latest figures from the Clean Energy Regulator, over $25 billion will be invested in 18.8 GW of new renewable generation in the Australian energy sector over the years 2018-2020.
“Despite record investment in renewables, we have seen significant supply and demand pressures across New South Wales, South Australia and particularly Victoria where 200,000 customers experienced blackouts this summer,” Mr Wyatt said.
“That’s why the Government is backing 24/7 reliable power and underwriting new electricity generation.”
The Government’s 26 per cent target is sensible and balanced, whereas Labor have committed to reckless economy-wrecking targets that will slash industries, wages and jobs.
As the Business Council of Australia has stated: “The emissions target of 26 per cent is appropriate and achievable. 45 per cent is an economy wrecking target”.