As an expression of the seriousness of the matter, Brouns & Ott (2005) state that these global emissions have to decline in the next decade, two at most; if at all the temperatures are to stay below the 2 degrees Celsius threshold.
By a concerted strategy of imposing a carbon tax, it is possible that Australia can achieve its objectives in regulating the emission of carbon into the air. There will be a huge and cost-effective improvement in the energy efficiency across all the sectors. There will also be a reduction in the levels of energy consumption to below where they stand right now as well as a contribution of renewable energy. This renewable energy sources will comprise close to 25% of the whole energy consumption by the year 2020. By accomplishing these objectives, the Australian government will be able to reduce the levels of the greenhouse gas emissions by a 33% margin as compared to the percentage levels in the year 1990.