Australia is off-track and looks set to miss its Paris emission reduction target. National emissions are rising and the government seems unwilling or unable to agree on credible policies to reduce emissions.
The Commonwealth Government has shelved its centrepiece new climate and energy policy, the National Energy Guarantee (NEG). The Large-Scale Renewable Energy Target (RET) will not encourage any new renewable energy generation capacity after 2020 and the Government’s emission reduction fund (ERF) did not receive any new funding in the last budget. Of the $2.54 billion previously allocated to the ERF only $250 million remains.