Two reports over the last few weeks have given updates on China and Australia’s progress towards their carbon emissions reduction targets. China’s announcement has been the most striking, with the country reaching its 2020 target already, three years ahead of schedule, with the Chinese representative to the UN Framework Convention on Climate Change attributing part of the progress to the limited carbon trading market the country began in 2011. While absolute emissions have risen, emissions per unit of economic activity, which is China’s measure, have fallen by 46% since 2005. Less encouraging news has come from Australia, where total emissions rose slightly last year compared to the year before, despite emissions from electricity generation falling, putting Australia off course to meet its Paris Agreement targets. Australia’s emissions have risen notably since the cancellation of its carbon pricing system in mid-2014.