Climate Council CEO, Amanda McKenzie, has warned that the planet is set to cross the halfway point towards a global temperature rise of 2C.
Figures from January to September this year are already 1.02C above the average between 1850 and 1900.
"If temperatures remain as predicted, 2015 will be the first year to breach this key threshold," she said.
"The world would then be half way towards a global temperature rise of 2C, a threshold scientists say cannot be crossed if we are to avoid some of the most dangerous climate change tipping points such as the irreversible melting of the Greenland icesheet or large-scale emission of CO2 and methane from thawing permafrost."
McKenzie said this data underscores the inadequacy of Australia's targets and the urgent need for action.
She said that despite being one of the sunniest and windiest countries in the world, Australia's solar resources are underutilized.
"Only 13 per cent of Australia's power comes from renewable sources," McKenzie said. "Australia has huge potential in renewable energy which has been largely untapped."
In other parts of the world renewable energy is booming. "In just a decade investment has increased five times and installed capacity has more than doubled," she said.
Last week the Australian Renewable Energy Agency’s annual report for 2014-15 was tabled in the Australian Parliament.
It provides a progress report on ARENA’s third year of operation and ongoing work to increase the competitiveness and supply of renewable energy in Australia.
CEO Ivor Frischknecht said that over the coming half century there will be a dramatic increase in the proportion of our electricity generated from renewable sources.
Highlights of 2014-15 include $21.5 million for 12 innovative solar research and development projects worth more than $70 million, and $163 million for 25 diverse projects across the innovation chain that are advancing renewable energy technologies and solutions, creating jobs and new skills, and building more efficient supply chains.
"ARENA has $1.3 billion in uncommitted funds; we will continue to target our investments towards a renewable future by creating the conditions that accelerate change and increase the bankability of emerging renewable,”Frischknecht said