Australia should triple carbon reduction target-advisory body

Feb 27 (Reuters) - Australia's target to cut its greenhouse gas emissions is inadequate and should be at least tripled by 2020, the country's Climate Change Authority (CCA) said Thursday.

The independent advisory body, set up by the former Labor administration, said the target of cutting emissions to 5 percent below 2000 levels by 2020 is weak compared with other developed nations, and not enough to efficiently stave off dangerous climate change.

The target should be raised to at least 15 per cent, the CCA said in a review of Australia's climate policy, and could be lifted to 19 percent counting emission cuts the country has already achieved.

By 2030, Australia should aim for emission cuts of 40-60 percent below 2000 levels, it said.

"A 5 per cent target for 2020 would not be a credible start by Australia towards achieving the below 2 degree goal," the repoort concluded, referring by a U.N. goal to limit global warming to 2C above pre-industrial levels by mid-century.

The CCA said Australia could meet the additional target through buying U.N.-issued carbon credits from nations such as Brazil, China and India.

At current record low prices the additional cost would not be higher than A$900 million ($807 mln), it said.

Under current law, the government is legally bound to respond to the CCA's recommendation through a statement delivered to both houses of parliament within six months.

The conservative government is in the process of repealing Australia's current climate laws, and if it succeeds before the end of August it could be free to ignore the CCA report, as the authority would be disbanded.

"At present it is difficult to see the government moving from its current 5 percent target," Elisa de Wit, a climate policy specialist with lawfirm Norton Rose Fulbright told Reuters.

Prime Minister Tony Abbott has said he is convinced Australia will meet the current target, but has said that if the Emissions Reductions Fund - his centrepiece policy to cut emissions - fails within the limits of its current budget, no extra funding will be provided.

Australia plans to use A$1.55 billion over the next three years to pay big emitters to stay below government-defined CO2 baselines.

(Reporting by Stian Reklev; Editing by Richard Pullin)

((stian.reklev@thomsonreuters.com)(+861066271298)(Reuters Messaging: stian.reklev.thomsonreuters@reuters.net))

Keywords: AUSTRALIA CARBON/