Fraser declares it unlikely Australia will reach emissions target

Bernie Fraser.

A review by the Climate Change Authority (CCA) has found the Government's Emissions Reduction Fund (ERF) alone is unlikely to lead to an emissions cut of 5 per cent by 2020.

An ABC report headed: “Emissions Reduction Fund unlikely to reach targets, Climate Change Authority report says” explains that with the earlier repeal of the carbon pricing mechanism, the ERF has become the spearhead of the Government's climate change policy.

CCA chairman Bernie Fraser said the program had a modest budget of $2.5 billion but modelling still suggested it was unlikely the scheme would reach its target.

"There haven't been any auctions yet and there's still some details to be worked out so it's a preliminary judgment, but the amount of money and the way that it's configured suggests that on its own it's not going to deliver that target," he said.