Greg Hunt (Flinders, Liberal Party, Minister for the Environment) Share this | Hansard source

The expectation is absolutely clear. It was determined by the department today that we will meet and beat our five per cent target. Let me make this point: they are relying on a report from a particular organisation, and this organisation has made three predictions. Two years ago they said we had a gap of 500 million tonnes. Today, categorically and without doubt, we are meeting, beating and sub zero. We go to Paris to meet and beat our targets. Secondly, we have not just closed that 500 million tonne gap; we have closed a 755 million tonne gap. Thirdly, the organisation in question from which they quote said that we would have nine million tonnes, at the very best, of abatement under the Emissions Reduction Fund. And do you know what? It was out by 500 per cent. We produced 47 million tonnes in the first auction and 45 million tonnes in the second auction—92 million tonnes over the two, at an average price of $13.12.

Mr Conroy interjecting—

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