The Climate Change Authority has published its advice for the first Annual Climate Change Statement to Parliament, as tasked by the Minister for Climate Change and Energy under the Climate Change Act 2022. The report sets a baseline for the current status of climate policies and emissions reductions in Australia, and presents the framework the Authority will employ in future years to assess progress towards Australia’s emissions reduction targets.

Key findings

• Australia has taken significant steps in the past twelve months, adopting a net zero target and a more ambitious 2030 target, with the Government legislating these and commencing implementation of its Powering Australia plan.
• Much more work is required. Australia needs to decarbonise 40 per cent faster than it has since 2009. The growing intensity of climate change impacts means Australia also needs stronger adaptation and resilience efforts.

The report also includes the methodology for assessing progress towards targets in future annual progress reports. The methodology includes four core elements—wellbeing, emissions, policies, and context, The Authority intends to establish and track leading indicators under this methodology to see where the economy is heading, track the transformation to net zero, and identify where further action is needed.