Continuing to tackle climate change

Carbon Pollution Reduction Scheme

The Government remains committed to tackling climate change and considers the Carbon Pollution Reduction Scheme (CPRS) the most effective, least‑cost way of meeting Australia's emissions reduction targets - but changing circumstances mean the CPRS will need to be delayed.

The Government will not introduce the CPRS until after the end of the current commitment period of the Kyoto Protocol and only when there is greater clarity on the actions of major economies including the US, China and India.

This means the Government will not move to legislate the CPRS before the end of 2012, and will only do so after this time if there is sufficient international action.

In the short term, continued investment in complementary and transitional measures will help the necessary transition to a low pollution economy. This is why the Government is boosting investment in renewable energy and energy efficiency.

Over the medium term, the CPRS will be required if we are to meet the bipartisan emission reduction targets. Governments around the world have recognised that market-based approaches are the most effective and least-cost way to reduce emissions.

The Government will continue its efforts to build a consensus, domestically and internationally.

International action

The Government is committed to ensuring the Copenhagen Accord is fully implemented.

Developed countries have committed to provide funding approaching USD 30 billion over the period 2010 to 2012 and, in the context of meaningful mitigation action and transparency, to a goal of USD 100 billion a year by 2020 from both public and private sources, to support mitigation and adaptation in developing countries.