The Federal Government has announced that they have provided Australia’s updated Nationally Determined Contribution (NDC) (Australia’s emission reduction commitments) under the Paris Agreement to the Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).
Under the Paris Agreement, Australia must submit emissions reduction commitments known as Nationally Determined Contributions (NDCs). Australia had submitted its first NDC to the UNFCC in 2015; and submitted an updated version of the NDC in 2022 that commits Australia to reducing its greenhouse gas emissions to 43% below 2005 levels by 2030. Australia will submit its second NDC to the UNFCCC in 2025.
The Federal Government has advised of the intention to legislate these targets when Federal Parliament resumes, in order to provide certainty to industry and investors in the renewable energy market.
In addition to a range of investment policies, the Federal Government has announced their intention to restore – the Climate Change Authority, while keeping decision-making and accountability with Government and introducing new annual Parliamentary reporting by the Minister, as well as confirming that Australia will not use over-achievement (‘carryover’) from its 2020 and Kyoto Protocol targets to meet its Paris Agreement targets.
