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The Coalition Government is committed to taking real and meaningful action to address the challenge of climate change. Climate change is a global problem that requires a global solution, and we have committed to reducing emissions to 26 to 28 per cent below 2005 levels by 2030.
This target is achievable and responsible, and represents one of the most ambitious reductions in per capita emissions and emissions per unit of GDP among developed countries, while ensuring our economy will continue to grow and prosper.
The Government has a comprehensive set of policies to reduce greenhouse gas emissions, increase energy efficiency and fast track the development and uptake of clean energy. In February 2019, the Government announced a $3.5 billion Climate Solutions Package that has mapped out, to the last tonne, how we will achieve the final 328 million tonnes of abatement needed to meet our 2030 Paris target.
The package includes a $2 billion Climate Solutions Fund to build on the success of the Emissions Reduction Fund and continue our investment in low-cost abatement.
The Emissions Reduction Fund supports activities to reduce emissions across our economy, including growing trees to store carbon and remove it from the atmosphere, storing carbon in the soil and better fire management in northern Australia. This supports businesses, communities and farmers across Australia in trying new practices and technologies that increase productivity, reduce greenhouse gases and combat climate change.
The Government is working to improve energy efficiency by reducing the energy used in appliances, equipment and buildings. This will reduce energy costs for households and businesses. We are also supporting renewable generation technology and funding research into new technologies.