Tuesday, 26 October 2010
Emissions Reduction Target
- That the Senate—
- that a study release by the Australian National University’s Centre for Climate Economics and Policy concludes that the conditions for lifting Australia’s minimum emissions reduction target from 5 per cent to 15 per cent have been met,
- that a study by the Climate Institute of comparative implied carbon prices shows that Australia’s existing implied carbon price of US$1.70 lags far behind the United Kingdom’s US$29.30 and China’s US$14.20,
- that the European Union is publicly discussing a plan to unilaterally lift its target of 20 per cent emissions reductions below 1990 levels by 2020 to 30 per cent, embracing the economic benefits that come with this investment, and
- that Scotland has recently announced that it will easily surpass its ambitious target of 50 per cent renewable energy by 2020 and is lifting that target to an impressive 80 per cent by the end of the decade; and
- calls on the Government to formally set aside the unconditional 5 per cent emissions reduction target by 2020 and lift its minimum ambition.