Carbon ‘accounting trick’ a no-go for ALP

A future Albanese government would not use Kyoto carry-over credits to meet the 2030 emissions reduction target Labor sets.

Anthony Albanese in Rockhampton on Wednesday. Picture: Leighton Smith

A future Albanese government would not use Kyoto carry-over credits to meet the 2030 emissions reduction target Labor sets ahead of the next election.

Anthony Albanese’s rejection of carry-over credits, which he ­labelled an “accounting trick” to reduce emissions, comes as a ­report released on Thursday commissioned by the Australia Institute claims there is no legal basis for using the credits to help meet the government’s target under the Paris Agreement.

Touring central west Queensland to try to win back blue-collar votes, the Opposition Leader ­declared Labor remained committed to its pre-election policy to reject the use of carry-over credits.

“We need real action on ­climate change and accounting tricks won’t do it,” he said. “It is not surprising the world is pushing back on that because they want Australia to fulfil our commitments, not to the irony of (Energy Minister) Angus Taylor relying on the credits because of the action of a former Labor government.”

Labor is re-evaluating its climate policies and has not decided on a 2030 target, amid concern within the party’s ranks that hitting former leader Bill Shorten’s ambitious 45 per cent emissions reduction target will be harder to meet following its election loss.

The Climate Change Performance Index released on Wednesday, which annually monitors the climate policies and actions of 57 countries and of the EU, ranked Australia 56th of 61 countries.

The index referenced experts who noted “the new government is an increasingly regressive force in negotiations” and called the Morrison government’s target to ­reduce emissions by 26 per cent to 28 per cent by 2030 below 2005 levels “insufficient”. Government sources said it was unclear which Australian policies had been analysed for the CCPI report.

Deputy Nationals leader Bridget McKenzie said she was “absolutely confident” the government would meet its Paris targets, but was not going to do it by putting people out of work.

Mr Taylor said Australia had an enviable record to present at the UN COP25 climate change conference in Madrid and the government would use carry-over credits “only to the extent necessary to reach the 2030 emissions ­reduction target”.

Rules for implementing the Paris accord, which aims to keep a global temperature rise well below 2C this century, will be discussed at COP25. The government is relying on 411 metric tonnes of CO2 “overachievement” from the Kyoto Protocol period to meet its 2030 target.

The AI report, produced by Climate Analytics, says there are many reasons why it is not legitimate or defensible “factually, legally or from an equity perspective” for Australia to use Kyoto credits for its Paris Agreement target.

It says the two were separate treaties; the Kyoto Protocol does not permit the carry-over of credits beyond the 2013-20 period; the Paris accord calls for parties to present their highest possible ambition; and Australia’s use of “creative accounting” could encourage others to use carry-over credits, which would undermine the Paris Agreement.