SYDNEY/MELBOURNE- Australia could beat its target for cutting carbon emissions under the Paris accord by 2030 without counting credits from overachieving on its targets in previous climate pacts, Energy Minister Angus Taylor said.
The latest projection marked a sharp shift for one of the world’s biggest emitters per capita and came ahead of the United Nation’s Climate Ambition Summit on Saturday, the fifth anniversary of the 2015 Paris climate agreement.
Australia’s policy of using old carbon credits to count toward future emissions targets was a major sticking point at the U.N. climate summit a year ago when big emitters were pushed to take more aggressive action to curb global warming.
The U.N. and Britain are jointly hosting the online summit on Saturday to push countries to upgrade their emissions-cutting pledges to help limit a rise in global temperatures to 1.5 degrees Celsius.
Australia’s emissions are now projected to be 29 percent below 2005 levels by 2030 compared with its Paris accord target of cutting carbon emissions by 26 percent to 28 percent, based on what could be achieved under a A$18 billion ($13 billion) technology investment plan the government outlined in September.