Everyone, please give the Australian delegation a big hug – they just tripled their emissions reduction target! And they didn’t even know it.
Thanks to the Clean Energy Act (2011) that is still law, and the wonderful impact of the carbon price over the past year, Australia’s total emissions default target has just kicked into auto-pilot and sent them on a new trajectory that will cut their emissions in 2020 by 18.8% below 2000 levels.
The Aussies are a bit “shy”about this new rise in ambition, but at ECO, we think they deserve a thank you. Spread the word and shout it loud, Australia’s heading for some big emissions reductions. Well, at least for the time being.