The current indicative value of the emissions budget is 4832 â 4764 mt C02-e, corresponding to the 26 â 28 per cent target range, as published in Australiaâs emissions projections 2020. Time frames Period of implementation 2021-2030, implemented as a multi-year budget Scope and coverage Target type Absolute economy-wide emissions reduction expressed as an emissions budget covering the period 2021-2030 Gases covered Carbon dioxide (CO2); Methane (CH4); Nitrous oxide (N2O); Hydrofluorocarbons (HFCs); Perfluorocarbons (PFCs); Sulphur hexafluoride (SF6); Nitrogen trifluoride (NF3) Sectors covered Energy; Industrial processes and product use; Agriculture; Land-use, Land-use change and forestry (UNFCCC classifications); Waste % of base year emissions covered 100 per cent of greenhouse gas emissions and removals in Australiaâs national greenhouse gas inventory Assumptions and methodological approaches for emissions estimates and accounting Metrics Australia intends to apply 100 year Global Warming Potentials (GWPs) as contained in inventory reporting guidelines, currently IPCC Fifth Assessment Report 100 year GWPs, or as otherwise agreed.