Professor Frank Jotzo, director of the Centre for Climate Economics and Policy at the Australian National University, said Australia could make a big cut in its emissions from the electricity sector, but that other sectors of the economy will also need to change in the long run. Paul Italiano, CEO of network manager TransGrid, said in New South Wales that the network changes did not match the growth of new renewable energy. In December 2015, the parties to the Un Framework Convention on Climate Change adopted the Paris Agreement: a pioneering agreement to combat climate change and measures to move their economies towards a sustainable, low-carbon future. The federal government described its fight against climate change in the Climate Solutions package published on February 25, 2019. This is a continuation of their direct action policy and promises direct investment in emission reduction technologies and clean energy through a climate fund. Federal Energy and Emissions Reduction Minister Angus Taylor also announced the development of a technology roadmap that will guide public investment in clean technology solutions. The centre of gravity of the investment will shift from wind and solar, which Angus Taylor now considers “viable commercial,” to network storage and integration technologies. Australia`s greenhouse gas production remains flat and remains below the downward trend needed to meet the terms of the Paris climate agreement and keep global warming below two degrees. The climate conference and debate on the text, including the ban on transfer credits, are due to end on Friday.
On Wednesday night in Australia, it was not clear whether an agreement would be reached. Under the kyoto Protocol, which is soon to be obsolete, deferral credits have been granted to encourage countries to be as ambitious as possible in reducing pollution. They were not mentioned in the original Paris agreement, but they were added to the text to be negotiated in Madrid, with some countries proposing a ban. In 2016, Australia and more than 170 countries signed the Paris Agreement, a global agreement to combat climate change by reducing greenhouse gas emissions. Ipsos found that the institutions that Australians thought had the greatest power to fight climate change were governments and large multinationals, and most of them thought that governments, including Australia, had performed poorly on this issue. Climate policy is lacking in all sectors. Australia is one of the few G20 countries without binding emissions or fuel efficiency standards for cars. Nor does it have a policy to reduce truck emissions. It has not yet developed a strategy to support electric vehicles. It relies on ineffective mechanisms, such as the Emissions Reduction Fund and the Safeguard Mechanism, which do not encourage emission reductions in the industrial sector.
The professors, all from Australian universities, argued that the Kyoto Protocol and the Paris Agreement were “completely separate treaties.” As such, they stated that the Kyoto appropriations could only be used to achieve the objectives of the Paris Agreement, if this had been decided and agreed by all the contracting parties to the agreement.