Australia is committed to developing an adaptation communication ahead of COP26 on our ongoing action and progress to the UNFCCC. 2 Australia and New Zealand Standard Industrial Classifications.Australiaâs Nationally Determined Contribution Attachment: Australiaâs Nationally Determined Contribution Target: 26 to 28 per cent below 2005 levels by 2030, to be implemented as an emissions budget covering the period 2021-2030. Quantifiable information on reference point Base year 2005 Reference indicator Emissions budget for the period 2021-2030 Value of reference indicator, target relative to the reference indicator, data source, and update of indicators The value of the reference indicator will be reported in Australiaâs domestic emissions projections reports and Biennial Transparency Reports under the Paris Agreement. The value may be updated to reflect inventory recalculations resulting from continuous methodological improvements.