Unpacking Australia’s ‘ambitious’ emissions plan

The nation’s 215 biggest emitters will be required to reduce their emissions by 4.9% each year until 2030 under proposed reforms to the safeguard mechanism by the Albanese government.

The plan is expected to shave 205 million tonnes of Australian emissions by the end of the decade, just shy of 30% of the nation’s total output.

The figures align with the 28% contribution these companies collectively make to Australia’s emissions. It’s expected to put Australia on track to meet the government’s 43% emissions reduction target by the end of the decade, but experts warn that an over-reliance on offsets and variabilities built into the scheme — including an open-door policy for new emitters — makes these numbers look flimsy. There are 114 coal and gas projects seeking approval in Australia.