Energy Minister Angus Taylor said the government's commitment was "achievable,balanced and responsible".Credit:AAP
Many countries,including Pacific nations and countries in the European Union,have been critical of the use of carryover credits. There is no international consensus on whether they should be counted or excluded.
Critics of Australia's use of Kyoto carryover credits insist Australia's"over-achievement"was obtained easily due to unchallenging targets set for Australia under the Kyoto deal. And given the drastic emissions reduction required in the next three decades,they say,nations should be striving to do more than meet modest targets.
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However,the Australian government's new forecasts,to be released on Saturday,point to a downward revision in national emissions to 2030 that show – for the first time – Australia's cumulative emissions will be 16 million tonnes lower than the target set under the Paris agreement.
The federal energy department attributes this to the growing contribution of large-scale renewable energy projects in the electricity sector and higher take-up of rooftop solar panels compared to previous estimates,and the government's $3.5 billion Climate Solutions Package.
According to the new projections,Australia will need the Kyoto carryover credits to achieve about half of the reductions required under the Paris agreement,which commits Australia to cut emissions on 2005 levels by 26 to 28 per cent by 2030.
Australia's emissions would need to fall a cumulative 695 million tonnes carbon dioxide equivalent (Mt CO2-e) between now and 2030 to satisfy the Paris commitment and about 365 million tonnes equivalent would come from the carryover credits.