Australia will achieve less than a third of pledged carbon cuts: Report
Published on Jun 12, 2014 11:53 AM
SYDNEY (REUTERS) - Australia will achieve less than a third of the carbon emission cuts it has pledged to make by the end of the decade, analysis firm Reputex said, stoking doubts over the government's climate policy.
Since taking office last September, Prime Minister Tony Abbott's government has unravelled a number of the policies and institutions put in place by its predecessor that sought to drive cuts in greenhouse gas emissions.
When the Senate changes next month, the government plans to repeal the nation's carbon tax and replace it with a A$2.55 billion (S$2.99 billion) Emissions Reduction Fund that will pay big emitters to cut their carbon levels.
Reputex, a major carbon market analysis firm in Australia, in a report released on Thursday said the fund would fall far short of meeting a target of cutting emissions to 5 per cent below 2000 levels by 2020, meaning it would also miss its international obligations under the Kyoto Protocol.
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