The Climate Action and Low Carbon Development (Amendment) Act 2021 provides that each carbon budget is to represent the total amount of greenhouse gases that may be emitted in the State during each 5 year period, measured in tonnes of carbon dioxide equivalent. This in and of itself is a target.The carbon budgets will be consistent with furthering the achievement of the national climate objective and include all greenhouse gases. The budgets shall provide for a reduction in greenhouse gas emissions such that the total amount of annual greenhouse gas emissions in the year ending on 31 December 2030 is 51 per cent less than the annual greenhouse gas emissions reported for the year ending on 31 December 2018, as set out in the national greenhouse gas emissions inventory prepared by the Environmental Protection Agency.
The Act is framed within the context of our international obligations. It provides a limited number of matters which the Climate Change Advisory Council will consider when proposing carbon budgets. This includes relevant scientific advice, international best practice on the reporting of greenhouse gas emissions and removals, and principles of climate justice.