Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Hansard source

As the honourable senator would or should know, the two per cent target is in fact a collective goal of the international community. Being responsible for about 1.3 per cent of global emissions, it stands to reason that, even if we were to reduce our emissions to zero, we would not be able to achieve the two per cent target. As a result, there will be a conference in due course in Paris, where countries from around the world will gather and seek to achieve that through combined action.

In relation to Australia's target, which we have now indicated, we will be reducing by 50 per cent per capita our CO2 emissions. That is the biggest effort of any country in the world. Let us put that into perspective. This is a very good achievement by Australia. It is something the Australian Labor Party should be celebrating, rather than having this ludicrous proposition—in a bid to gain Green preferences in inner-city seats—which will mug our economy and severely compromise household budgets.