Australia's renewables push makes us poorer while super-polluter China cancels out any climate benefit
To make matters worse, during the same period, China increased emissions by 1,970 million tonnes, 87 times more than the tiny amount gained from Australia's renewables push.
The latest data from the Energy Institute revealed between 2014 and 2024, Australia's carbon emissions from energy dropped by just 22.6 million tonnes—from 381.0 Mt to 358.4 Mt.
While Australia posted modest gains, China's emissions exploded from 8,647 Mt to 10,617 Mt, creating the equivalent of several new Australian economies.
The figures paint a sordid picture of the uphill battle to lower emissions while the worst emitters in the world are moving in the opposite direction, cancelling out any gains.
Climate science is based on global emissions, not domestic output. This means despite enormous investment, Australia has made no progress towards limiting the impact of climate change at all.
The figures come after the Centre for Independent Studies (CIS) found taxpayers and energy customers funded billions in renewable subsidies over the ten years to 2022–23.
According to the CIS report, Counting the Cost: Subsidies for Renewable Energy, the total spend was $29.178 billion and the return on investment was meagre at best.
CIS Senior Energy Policy Analyst Michael Wu told Sky News the government's 'modest emissions reduction' had been 'cancelled out' by China.
'Even more concerning is that doubling down on renewables has not delivered the promised reduction in power bills, exacerbating the cost-of-living crisis,' he said.
The effort to transition towards renewables has also 'driven out energy-intensive industry and jobs, similar to what we've seen in Germany', Mr Wu said.
Despite the eye-watering spend, Australia's emissions cut accounted for less than 0.1 per cent of global energy CO2 output. China misses UN climate deadline
The revelations come as China failed to meet a UN deadline to submit updated climate targets intended to outline their 2035 emissions reduction pledges.
The delay has sparked concerns over the credibility of global climate efforts, given China remains the largest carbon polluter, responsible for a third of global emissions.
President Xi Jinping said in April that China would announce its new goal before COP30, without specifying a date.
China's foreign ministry did not respond to Sky News' requests for comments on their timeline.
Despite this, the CEO of Australia's Smart Energy Council John Grimes recently praised the Chinese Communist Party's approach to renewable energy.
'One thing you can say about the Chinese system is that China plays as a team,' he told the National Press Club.
'And Australia spends all of our time trying to tear each other apart. That is no way to compete for Team Australia.
'If the (energy) transition of the world were a marathon race, then countries like Australia and Japan… would be like the runners at the start line, limbering up.
'But the only problem was that that race began an hour ago. That's how far ahead China is in this race.'
According to the Energy Institute, China and India alone were responsible for 62 per cent of the global emissions increase in 2024. Labor still mulling 2035 target
As global superpowers ramp up pollution, the Albanese government has been considering its own 2035 climate target, with an announcement expected in September.
The new climate target could be put as high as a 75 per cent emissions reduction by 2035 from 2005 levels as internal deliberations and departmental advice continue.
Sources told Sky News earlier this year that a 65 per cent cut was more likely, in line with the 65-75 range floated by the Climate Change Authority.
Meanwhile, the Australian Chamber of Commerce and Industry has warned against overly ambitious targets.
"We will only support something that's realistic, that's affordable for the Australian economy," ACCI CEO Andrew McKellar told Sky News on Tuesday.
'We have got to be realistic about the contribution that we can make. There's no point driving our economy into the ground.'
ACCI's submission to the Productivity Commission argued any target above 65 per cent would jeopardise the viability of small businesses and industry.
Shadow Energy Minister Dan Tehan recently condemned the Albanese government for overseeing what he called a botched energy transition.
'Well, the problem is that (Energy Minister) Chris Bowen's made a complete mess of our electricity transition,' he told Sky News.
'Everywhere you look, it's a mess. And the one thing that he doesn't want to answer is, what is the cost of this mess?
'We know that his plans don't take into consideration the cost of this rollout of new poles and wires. He won't put a figure on it. We now know that that's delayed.
'So, what does that mean when it comes to the grid's reliability going forward, and also what does it mean for consumers?'
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