It has asked whether Australia considers its emissions profile, which has seen pollution rise since the repeal of the carbon price, to be “on a structural path of decrease in line with its commitments”. It has also flagged fossil fuel exports and asked whether they are sustainable “in the context of Paris agreement”.
emission reduction fund
Australia had the world’s 15th largest greenhouse gas emissions in 2015 and its citizens’ per-capita contribution is around three times the global average. It is the world’s second largest coal exporter and recently became the top exporter of liquified natural gas (LNG). Its electricity system remains heavily reliant on coal, despite ramping up the use of gas and renewables, especially rooftop solar.
The $2bn promised for Australia’s greenhouse gas abatement projects will be spread over 15 years, not 10, Tuesday’s budget revealed. The Coalition plans to spend its $2bn “climate solutions fund” over 15 years, not 10, as promised when it unveiled the rebadged emissions reduction policy in February.
Experts say allowing Vales Point coal-fired power station to register with the Morrison government’s emissions reduction fund, rebadged this week as a “climate solutions” policy, puts Australia out of step with the World Bank, Europe and the US, which have all rejected using climate financing for coal power retrofits.