Beijing, 25 August (Argus) -- Australia has used 48pc of its emissions budget to 2030, which puts the country on track to meeting its climate goal, said a report by Australia's Department of Climate Change, Energy, the Environment and Water published today.
Australia has committed to an emissions budget for the 2021-2030 period under the Paris Agreement. The country has emitted 2,105mn t of CO2 equivalent (CO2e) over the 19 quarters, since the budget period started. The country has 2,289mn t of CO2e left for the remaining 21 quarters.
The report estimates that emissions for the year to March will reach 440.2mn t of CO2e, down by 1.4pc on the year. This is more than 28pc below emissions for the year ending June 2005 -- the baseline for Australia's target of reducing emissions by 43pc by 2030 under the Paris Agreement.
Lower combustion activity and reduced emissions from industrial processes and product use, driven by technological and production changes in the chemicals and metals industries, accounted for more than half of a 6.5mn t emissions reduction, according to the report.
Increased carbon capture and storage activities, reduced fugitive emissions from mining operations, and lower emissions from the agriculture and animal husbandry sector also contributed to the reduction.
Increased renewable energy generation and the continued replacement of coal led to a 0.8mn t reduction in emissions from the power sector. Australia's power sector accounts for nearly half of the country's energy-related greenhouse gas emissions. It is the core of the national energy transition and a driver for emissions reduction in other sectors such as transport and industry. The Australian government plans to increase the share of renewable energy generation in the national energy mix to 82pc by 2030.
National emissions, in trend terms, are estimated at a preliminary 108mn t of CO2e for the June 2025 quarter, down by 0.7pc or 0.8mn t of CO2e from the previous quarter.