Appendix 3

Appendix 3

Australia's 2020 target policy[1]

Reduce emissions by 5% relative to 2000 levels

Conditions: None

Reduce emission beyond 5%

Conditions: The Government will not increase Australia's emissions reduction target above 5% until:

Reduce emissions by 15% compared with 2000 levels

Conditions: International agreement where major developing economies commit to restrain emissions substantially and advance economies take on commitments comparable to Australia's. In practice, this implies:

Reduce emissions by 25% relative to 2000 levels (up to 5 percentage points through Government purchase)

Conditions: Comprehensive global action capable of stabilising CO2-e concentration at 450 ppm CO2-e or lower. This requires a clear pathway to achieving an early global peak in total emissions, with major developing economies slowing the growth and then reducing their emissions, advance economies taking on reductions and commitments comparable to Australia's, and access to the full range of international abatement opportunities through a broad and functioning international market in carbon credits. This would involve:

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