Emissions grew 1.3 per cent over FY15 – the first increase in fiscal year emissions since 2005-06, ten years ago, when Australian emissions reached their historic peak, according to this report.
The government’s latest emissions projections were released in late December, along with an update to the NGGI for FY 2014-15, providing more detailed insight into the downgrading of Australia’s abatement task, and the government’s long-term emissions outlook.
In this Market Update, we go behind the numbers to identity the key trends and implications:
Notably, analysis indicates that national emissions have now commenced an upward trajectory, with Australia’s emissions growth rate through to 2020 projected to be among the highest of all developed economies
Moreover, we project that Australia’s national emissions will remain on a growth pathway, despite current policy, with Australia on track to exceed its historic 2005-06 high, while no peak in emissions is expected to occur prior to 2030