Latest emissions projections show progress towards target

The Australian Government has released the Emissions Projections 2024 report.

This year’s projections report shows:

• emissions are expected to be 42.6% below 2005 levels by 2030 in the baseline scenario
• an improvement from the 37% reduction projected in 2023
• we are only fractions off our 43% emissions reduction target.

We are also on track to beat our emissions budget target from 2021 to 2030.

The policies helping drive this progress include:

• the Safeguard Mechanism reforms
• the expanded Capacity Investment Scheme that supports achieving an 82% renewable electricity target
• the New Vehicle Efficiency Standard (NVES) that will cut emissions from new passenger cars by over 60% by 2030
• the uptake of household solar use and planned projects including the use of offshore wind.

This path is a function of our continued commitment – and combined effort – to reach net zero emissions by 2050.

The 2024 emissions projections was released by the Minister for Climate Change and Energy alongside the:

• Australian Climate Change Statement 2024
• the National Greenhouse Gas Inventory: Quarterly updates for the June 2024 quarter.