The new report, Aim High, Go fast: Why emissions need to plummet this decade, set a recommended target for Australia to triple its emissions cuts and achieve a 75 per cent reduction from 2005 levels by 2030 and net zero emissions by 2035.

The report found the global temperature rise was on track to exceed 1.5 degrees during the 2030s but could still be held below two degrees if all countries halve emissions by 2030 and reach net zero by 2040.

READ MORE: City of Ballarat's push for net zero emissions

Lead author and Climate Council spokesman Professor Will Steffen said Australia was already experiencing the deadly consequences of global warming, with worsening bushfires, floods, and heatwaves affecting communities across the country.

"In fact, the actions Australia and the rest of the world take this decade will determine if the climate system can be stabilised at a level that minimises the risk of catastrophic impacts such as abrupt, irreversible changes," he said.

The City of Ballarat's plans have it a decade ahead, with targets set to reach net zero emissions by 2025 and for the whole city to be carbon zero by 2030.

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Central ward councillor Belinda Coates said the targets were intentionally ambitious.

"We're on the right track, the next step for us is to really ensure that we are following through on all of those commitments and we're accountable to the community, we're walking the talk and at the same time, we've got to really work on building community momentum," she said.

"I think without having a goal, we're just going to be spinning our wheel."

Cr Coates said plans were in motion for council to join a renewable energy power purchase agreement, along with other emissions reducing measures.

ABOUT THE REPORT: 'Failure is not an option': the 2020s offer the globe one last chance

"Changing over all of the street lighting to LED street lighting will significantly reduce emissions and then there are things that have been underway for some time like retrofitting buildings, with things like solar panels, solar hot water or energy saving measures that will reduce the energy and save costs of the buildings of City of Ballarat," she said.

"For businesses, it will be about encouragement and support to look at ways that businesses can transition to set targets themselves.

"We've seen some really big examples in recent times in Ballarat with a couple of the big industries like McCain and Mars setting really ambitious targets, so it shows that it can be done."

While some of the energy and emissions-saving measures come with an upfront cost, Cr Coates said many would save ratepayers money immediately or long-term.

"For example, transitioning to a renewable energy power purchase agreement, that will save money straight away because what's happening in the market is the the cost of renewable energy is coming down so quickly and because it's a group purchasing agreement, that will actually save money straight away," she said.

"Things like transitioning to LED street lighting do cost money up front but that's quickly recovered over only about five or six years and then starts to save council money. A lot of measures around retrofitting buildings are like that, they'll start to save money pretty quickly. It's a matter of investing in things that will help bring the community along as well."

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