Minister for Climate Change Penny Wong said Australia’s reduction targets would not increase until:

  • The level of global ambition becomes sufficiently clear, including specific targets of advanced economies and verifiable emissions reductions from China and India
  • The credibility of those commitments and actions is established, for example by way of a robust global agreement set at the next United Nations Climate Change Conference in Mexico
  • Emissions accounting and access to markets have been clarified.

Ms Wong said that the submission was consistent with the Government’s commitment to “do no more and no less than the rest of the world” in relation to climate change.

“The Government’s aim is to reach conclusion on these matters as soon as possible, as an ambitious and comprehensive global agreement is squarely in Australia's national interest,” Ms Wong said.

Article continues below…

If these matters are not resolved in 2011, the Government will then set scheme caps consistent with the five per cent target to provide business certainty for the commencement of the first year of full trading under the Carbon Pollution Reduction Scheme from July 2012.

The US submission outlined that it would aim to reduce emissions by 17 per cent by 2020, while India will aim for a 20-25 per cent reduction by 2020. Both percentages are based on 2005 emissions levels.

The Copenhagen Accord, reached at Copenhagen climate change summit at the end of 2009, set out to:

  • Specify emissions reduction targets or actions by both major developed and developing nations
  • Limit global warming to less than 2 degrees Celsius
  • Provide the necessary finance to support mitigation and adaptation action in developing countries.

The Copenhagen Accord has been criticised as an inadequate global agreement on climate change, but UNFCCC Secretary Yvo De Boer described it as the essential ingredients for a more effective global treaty at the upcoming Mexico Climate Change summit.

"You can say that although Copenhagen did not produce the final cake, it left countries with the right ingredients to bake a new one in Mexico," Mr De Boer said.