In
2007, in the lead up to a Federal Election, the Garnaut Climate Change Review,
led by Professor Ross Garnaut, was first commissioned by State and Territory
Governments to conduct an independent study of the impacts of climate change on
the Australian economy.
The
Review's First Report was released on 30 September 2008. The Report recommended
medium to long-term policies and some suggestions for Australia’s carbon
pollution emissions reductions targets.
The
review recommended that Australia should be ready to calibrate its emissions
reductions proportionately to a global effort directed at less than the 2°C (or
450 parts per million concentrations of carbon dioxide equivalent) objective.
By
2011, both the Australian Government and the Opposition had each committed
themselves to reducing Australia's emissions by 2020 by at least 5% (relative
to 2000 levels), unconditionally, in the absence of any global agreement on
emissions reductions.
The
Garnaut Climate Change Review—Update 2011 released a series of papers in
February and March 2011 addressing developments across a range of areas
including: Update
Paper 6: Carbon pricing and reducing Australia's emissions.
Garnaut
indicated that Australia’s carbon pollution emissions reduction target will
need to be revised upwards over time in line with international action.
The Climate
Change Authority has commenced a review of targets for reducing
Australia's carbon pollution by 2020 and beyond.
The Caps and Targets Review will recommend a target
for reductions in emissions for Australia and a proposed pathway to that
target. As part of this Review, the
Authority will also recommend annual emissions caps (or limits) for Australia’s
carbon pricing mechanism for the period 2015-16 to 2019-20.
The
Authority has released an Issues Paper on the Caps and Targets Review
and invited public submissions. Submissions
should be lodged by 30 May 2013.
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