• Reference to a 1.5 degree limit will require countries to ratchet up targets
• Australia will now need to rapidly transition from coal to renewables
• Agreement to $100 billion in finance for developing countries to develop via low carbon economies

The Australian Greens welcomed the announcement by world leaders that a framework agreement to tackle global warming has been reached in Paris, but urged the work has just begun towards averting the catastrophic impacts of global warming and transforming the global economy.

A new draft text has been released overnight at the UN climate talks in Paris, where Australian Greens leader Richard Di Natale has responded with cautious optimism.

"This draft text, if agreed to in coming days, sets the basis for a constructive global agreement but far more work will be needed to seriously scale up ambition and action over coming years," said Senator Di Natale, who's at COP21.

The Australian Government has deservedly been ranked third last out of 58 large countries on the strength of their policies to tackle global warming in a report out of Paris overnight.

The report by Germanwatch and Climate Action Network Europe puts Australia ahead of only Saudi Arabia and Kazakhstan for climate action.

"The world is not being fooled by the nice speeches we're hearing from Australian pollies in Paris. The fact is, their policies are inadequate," said Greens Leader Richard Di Natale, who's at the UN summit.

Labor's climate targets announced today leave the Turnbull Government isolated but raise serious questions about how Labor will deliver on its targets without a plan to transition away from coal.

"We welcome this shift from the ALP but now they need a detailed plan to achieve these modest targets," said Greens Leader Richard Di Natale.

"Transitioning away from coal is what's required to safeguard our economy and achieve dramatic pollution cuts, but neither of the big parties are willing to show leadership.

This weekend tens of thousands of people will be hitting the street around the country for the Peoples’ Climate Marches. This is our chance to send Prime Minister Turnbull a strong message as he makes his way to Paris - Australia is ready to RenewAustralia and embrace a clean energy future.

On the eve of global climate negotiations kicking off in Paris, the Australian Greens have today released their detailed plan ensure that by 2030 Australia's energy generation is at least 90% renewable and twice as efficient. A new government authority called RenewAustralia would deliver a 15 year pipeline of clean energy projects through a combination of reverse auctions and direct investment.

"Today the Greens unveil RenewAustralia - our plan to power the new economy and create thousands of jobs ," said Australian Greens Leader, Dr Richard Di Natale.

The Greens have strengthened the party's position on international climate change targets, ahead of Leader Richard Di Natale and Deputy Leader Larissa Waters heading to Paris for the UN climate talks.

Senator Di Natale said the Greens have unanimously resolved, at the party's National Conference over the weekend, that global warming should be stabilised within 1.5 degrees.

"More than 100 countries have made this call. Australia actually has the capacity to help achieve it," said Senator Di Natale.

The Australian Greens say today's appointment of a Wind Farm Commissioner is a sign that Malcolm Turnbull will continue to pander to those in the Coalition who are intent on sending Australia backwards.

"Prime Minister Turnbull has wasted another opportunity to show he's any different to Tony Abbott. Australians don't need a wind farm commissioner, we need a plan to transition away from coal," said Greens Leader Richard Di Natale.

"This is one of the tin-foil-hat wearing relics of the Abbott age."

Greens Leader Richard Di Natale has welcomed the formation of the Australian Climate Roundtable, commending the business community for recognising the gains to be had in transitioning to a low-pollution economy.

"The drive to cut pollution is the new heartbeat of the economy. It's a huge opportunity to create jobs, attract investment and build up new industries, but we're on the cusp of missing it," Senator Di Natale said.