Angus Taylor Says Carbon Offsets Will Be Key To Achieving Global Goals

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Proponents of a carbon offset market argue that it has the potential to play a major role in smoothing the economic transition to a low-emission economy, while working to keep global warming below 1.5 degrees, as stipulated in the Paris climate agreement.

But critics say they allow emitters to continue to mask a lack of global effort to reduce greenhouse gases without taking meaningful action.

Mr Taylor dismissed claims that Australia’s position was an obstacle at the Madrid summit in ensuring that it could use “carry-over credits” from exceeding its greenhouse gas emission reduction targets. greenhouse under Kyoto.

A report by the Intergovernmental Panel on Climate Change in August revealed a chance of limiting the increase in global warming to 1.5 ° C, the target set in the 2016 Paris Agreement, the world must reduce greenhouse gas emissions by 45% by 2030 from 2010 levels.

Based on the commitments made by the 191 signatories of the Paris Agreement, emissions are expected to increase by 16% by 2030, which could lead to an increase in average temperatures of 2.7 ° C by the end of the year. century.

The Australian government has set a target of reducing emissions by 26 to 28 percent from 2005 levels by 2030, but has not set a deadline for reaching net zero emissions.

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Mr Taylor said that a key part of implementing the Paris Agreement would be ensuring transparency and accountability.

“And without accountability, there will be no translation of ambition into success. One of the central principles of the Paris Agreement is that all countries determine their own contribution to global efforts to reduce emissions.

“But responsibility has to go hand in hand with this responsibility. “

He said Australia’s quarterly reporting system had held governments on either side to account for the commitments they made.

“This has helped ensure that Australia has met and surpassed its Kyoto-era targets of 459 million tonnes, and we are on track to meet and exceed our Paris 2030 target,” he said. declared.

He said Australia would work constructively to support the UK Presidency and the COP negotiations, as he wants practical results to allow “real progress” in the months and years to come.

He said that at the center of this would be an intensification of global cooperation on research and development of clean technologies while reducing the costs of new and emerging technologies on par with existing alternatives.


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