Under the Paris Agreement, Australia has committed to reduce its greenhouse gas emissions by 26-28 per cent on 2005 levels by 2030, with a target review every 5 years in order to peruse efforts to limit global warming to below 1.5°C. To meet its target, Australia will need to transform its economy, with the integration of carbon and energy policy critical to achieving large-scale emissions reductions, while ensuring reliable, low-cost energy supply.
The Federal Government has outlined a range of policy options to achieve Australia’s 2030 target, with the Emissions Reduction Fund (ERF) and safeguard mechanism at the core of its Direct Action Plan, supported by complementary policies including the Renewable Energy Target (RET) and National Energy Productivity Plan (NEPP). In parallel, State governments have begun to take strong policy action, led by ambitious renewable energy targets in the ACT, Queensland, South Australia and Victoria.
As policymakers and businesses begin to explore policy development, RepuTex provides market participants and policymakers with detailed analysis of policy developments, modelling tools and economic forecasts, helping our customers to understand the current state of the market, where policy needs to go to meet our long-term targets, and how the emissions reduction effort may be distributed across key economic sectors.
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