2020 Review of the Emissions Reduction Fund
The submission to the Climate Change Authority in relation to the 2020 Review of the Emissions Reduction Fund (ERF) was prepared by the Australian Environment and Planning Law Group (the AEPLG) of the Legal Practice Section.
The AEPLG notes that the aim for any climate policy should be the reduction of emissions in line with Australia’s 2030 Paris Agreement goals, at the lowest possible cost. The AEPLG also notes that for the last two decades, Australia’s approach to emissions reduction policy has been inconsistent and subject to constant debate and uncertainty.
If Australia is to meet its 2030 goals, and set more ambitious reduction goals as required by the Paris Agreement, Australian governments of all persuasions must work together on an economy-wide approach to emissions reduction and support the long term investment required to deliver on our emissions reduction commitments in an environmentally responsible manner.
To this end, the AEPLG observes that the ERF is one of the few examples of policy stability, having originated as part of the former Gillard Government’s climate change policy package and has been maintained and expanded by successive Australian governments. However, the ERF (together with the Renewable Energy Target and related instruments) is not sufficient in the medium to long term to be the main driver for emissions reduction in Australia, and governments must continue to use all levers at their disposal to encourage and support innovation and pursue lower emissions targets.
You can read the full submission below.