Explainer on Australia’s emissions reduction targets

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Alan Kohler gave an excellent explainer (video below) on Australia’s legislated emissions reduction targets, and the difficulty in meeting them.

Australia has two targets that it must meet:

  1. 43% below 2005 levels by 2030; and
  2. Net zero by 2050.

These targets mean Australia now has an emission budget: the total of carbon dioxide and methane that we can emit between now and then to meet those targets.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.