A new study has found that Victoria could slash carbon emissions much faster than State Government predictions.

The report, commissioned by Environment Victoria, used the same models as a 2007 State Government study which said that emissions could be cut to 47 per cent of 1990 levels by 2050. The new Environment Victoria analysis found that emissions could be slashed to 46 per cent of 1990 levels by 2020.

The new study assumed sustainable production methods were used, that new and existing buildings were given green overhauls and that coal-fired power was replaced by gas and renewable energy sources.

Environment Victoria campaigns director Mark Wakeham said that "For example, if Victoria’s entire building stock was given a green makeover to improve water and energy efficiency, we could cut Victoria’s emissions by more than 8.6 million tonnes a year by 2020, as well as cutting energy bills.

"By ensuring the goods we buy are durable, recyclable, necessary and have a minimal carbon footprint, we could reduce emissions by 12 million tonnes a year by 2020."