The Paris Agreement is an agreement within the UNFCCC (UNFCCC), which deals with the reduction, adaptation and financing of greenhouse gas emissions from 2020 on. The agreement aims to address the global threat of climate change by maintaining a global temperature increase well below 2 degrees Celsius this century and continuing efforts to further limit the temperature increase to 1.5 degrees Celsius.  Climate Analytics found that, under the legal framework of the Kyoto Protocol, there was no way to allow the transfer of emission reductions to a new agreement after it opened in 2020. Under the Paris Agreement that Australia signed in 2015, countries must track an emissions reduction in line with international efforts needed to limit global warming to less than two degrees and as close as possible to 1.5 degrees. The Paris Agreement also states, for the first time in an international climate agreement, that we should “make efforts” to limit the rise in temperatures to 1.5°C (Article 2). In Paris, the IPCC was invited to prepare in 2018 a new special report (see above) on the effects of global warming of 1.5°C above pre-industrial levels. In addition, the Parties shall endeavour to achieve global greenhouse gas emissions “as soon as possible” (Article 4). Seven other states have signed the Paris Agreement, but have not ratified it. On November 4, 2019, the United States informed the depositary of its withdrawal from the agreement, which will take effect exactly one year after that date.  However, the Australian government believes that Australia will achieve its 2030 target “through a policy based on its proven approach to direct action.” These measures include the Emissions Reduction Fund and its associated protection mechanism, as well as a number of other measures to reduce our greenhouse gas emissions and increase energy productivity.
Figure 1 below shows the main relevant strategies and the extent of emission reductions that the Government believes can be achieved in relation to Australia`s 2030 target. Australia`s greenhouse gas emissions continue to stagnate and remain below the downward trend needed to meet the conditions of the Paris Climate Agreement and keep global warming below two degrees. . . .