Australia's Climate Change Authority has issued a draft report stating that the greenhouse gas reduction target of 5% by 2020 is inadequate and should be increased to at least 15%. The Authority is due to produce a final report in February but Coalition policy is to abolish the Climate Change Authiority – so its final report may not be completed.
The Authority recommends that Australia should aim for a 15% cut in emissions by 2020 compared with 2000 levels as a ''minimum option'' with a further cut of 35% to 50% by 2030 as the country's contribution to giving the world a two-in-three chance of avoiding 2°C of global warming.
The report says that increasing the target from 5% to 15% would only reduce the projected average annual gross income of Australians in 2020 from $66,450 to $66,350. Increasing it from 15% to 25% would only reduce the average income by another $100 per annum.