Australian news, and some related international items

Australia set to disappoint key allies on 2030 emissions target.

Australia set to disappoint key allies on 2030 emissions target, SMH,  By Mike Foley October 18, 2021 Australia’s decision not to boost its 2030 emissions reduction target will disappoint key allies that have called on Prime Minister Scott Morrison to do more ahead of next month’s United Nations climate summit in Glasgow.Mr Morrison told Parliament on Monday he would stick with the target that he took to the 2019 election, which was set by former prime minister Tony Abbott in 2015, to reduce emissions by at least 26 per cent from 2005 levels. His decision comes after Nationals leader Barnaby Joyce on Sunday all but ruled out support for a higher 2030 commitment.

British cabinet minister Alok Sharma, who will head the COP26 climate change conference, has called on Australia to set a 2030 emissions reduction target of up to 50 per cent. The United Kingdom has committed to cut emissions 68 per cent by 2030 while the United States has set a goal to reduce emissions by 50 per cent and urged Australia to increase its near-term target. Japan is targeting 46 per cent.  South Korea 40 per cent and the European Union 55 per cent.

Climate scientists say deep emissions cuts by 2030 are needed to achieve the goal of the Paris Agreement to limit global warming to less than 2 degrees, and as close to 1.5 degrees as possible to avoid the worst damage from climate change. Waiting longer to 

 reduce greenhouse gases will allow too much carbon to build up in the atmosphere and cause heating long after 2050, even if net zero is achieved by then.

The government’s “technology not taxes” policy is focused on investment in low-emissions technologies to replace current carbon-intensive systems…………….

A report released on Monday by the Asian Investor Group on Climate Change, Ceres and the Investor Group on Climate Change, which represent investors with a cumulative $62 trillion in assets, called for G20 leaders including Australia to set ambitious 2030 targets. It said Australia was among the least attractive countries for green investment, alongside Argentina, India, Indonesia, Mexico, Russia and Saudi Arabia.

Investor Group on Climate Change policy director Erwin Jackson said global investors, which Australia relies on for foreign investment, would flow away from countries without ambitious 2030 targets………

October 19, 2021 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming

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