The Albanese government is on track to reach its 2030 emissions reduction target after it introduced emissions standards for vehicles, and pumped more taxpayers’ money into the Capacity Investment Scheme to boost the uptake of renewable energy.

Annual departmental data to be released on Wednesday by Climate Change and Energy Minister Chris Bowen will show the nation on track to reduce emissions by 42.6 per cent below 2005 levels by the end of the decade. The legislated target is 43 per cent.