Submission to 2017 Review of Australia's climate change policies

Lead Author: Annabelle Workman^1,2,3
1 Australian-German Climate and Energy College
² EU Centre on shared complex challenges
³ School of Earth Sciences
Download full report and list of authors here.

Recommendations

To protect Australia’s national interests, it is recommended that the Australian Government:

1. establish an achievable, equitable and economically responsible 2030 greenhouse gas emissions target of 60 percent below 2000 levels alongside a long-term goal of net-zero emissions by 2046;
2. foster the RET scheme to successfully reach its first target in 2020, and extend the scheme with broader competition, competitive capacity allocation, and effective financing;
3. reinstate an economy-wide carbon pricing mechanism;
4. create climate policies that use additional methodologies, such as the social cost of carbon; and
5. support state and local government initiatives that reduce emissions and increase renewable energy generation.

Submission Summary

• To meet their commitments under the Paris Agreement, Australia must set a target date for net zero emissions and increase their 2030 emissions reduction goal
• The Renewable Energy Target (RET) scheme has been an effective mechanism that will contribute to a long-term emissions goal post-2030
• In addition to the RET, a direct carbon pricing mechanism is essential to signalling a commitment to a low-emission pathway at the lowest economic cost to Australia
• The Australian Government should consider the benefits and opportunities afforded to Australia by using additional modelling and methodologies, such as the social cost of carbon, in the policy development process
• The Australian Government should support deep emissions reduction target-setting from state and local governments. Those states able to achieve deeper cuts earlier should be encouraged to do so and, especially in the absence of an economy-wide carbon price, the Australian Government should embrace ambitious state renewable energy targets.