Two-thirds of Australia's emissions fund spent for just 7% of 2030 target

The Clean Energy Regulator has bought up 50.5m tonnes of carbon abatement but there are doubts over how effective this will be in reaching Paris agreement targets

The government has now spent two-thirds of its emissions reduction fund but has only achieved 7% of the emissions cuts it would need to reach its 2030 target, according to analysts.

Today the Clean Energy Regulator announced the results of its third Emissions Reduction Fund auction, the centrepiece of government climate policy by which it pays polluters to pollute less.