Australia is well placed to reduce emissions at low cost

Australia is well placed to reduce emissions at low cost because the costs of carbon-free technologies such as wind and solar have fallen significantly in recent years.

A WWF report produced in collaboration with the Australian National University argues Australia could source 100% of its power from renewables by 2050 – without incurring massive adjustment costs or depressing economic growth – if there were clear and stable national policy settings to support investment in renewables.

Australia’s national climate policy does not extend beyond 2020.

The current commitment is to cut carbon emissions by 5% below 2000 levels by 2020, although a number of climate experts query whether the Abbott government’s Direct Action policy will achieve that target.

The Coalition’s desire to cut the existing Renewable Energy Target (RET) has triggered an investment drought in the sector. Despite repeated pleas from the sector and business groups, the standoff over the RET remains unresolved.

The government is expected to set post-2020 emissions reduction targets in June.