Transfer credits were authorised under the soon-to-be-obsolete Kyoto Protocol to encourage countries to be as ambitious as possible in reducing pollution. They were not mentioned in the original Paris agreement, but included in the text being negotiated in Madrid, with some countries proposing to ban them. He stated that the two agreements were separate treaties and should not be seen as continuing to be concluded. According to a new report, Australia`s plan to use an accounting loophole to meet its obligations under the Paris climate agreement has no legal basis and says it has broken a commitment to further reduce emissions as soon as a global agreement is reached. In December 2015, parties to the United Nations Framework Convention on Climate Change adopted the Paris Agreement: a pioneering agreement to tackle climate change and take action to lead their economies towards a sustainable, low-carbon future. The Australian NDC, which the federal government published in August 2015 before the adoption of the Paris Agreement, committed Australia to implementing a „macroeconomic target to reduce greenhouse gas emissions by 26-28% compared to 2005 by 2030“. However, Australia has limited its objectives by reserving the right to adjust its objective „if the rules and other agreements underlying the agreement differ in a way that has a significant impact on the definition of our objective“. In the second half of this century, Australia has made no commitment to climate neutrality.