Former Reserve Bank governor Bernie Fraser has resigned as chairman of the Climate Change Authority (CCA).

Mr Fraser was the first person to hold the position when he signed on for a five-year term in 2012.

He leaves the role two years early.

Recently, Mr Fraser criticised the Federal Government's post 2020 emissions reduction targets, saying they fell well short of international benchmarks.

In August, the Federal Government announced plans to cut emissions by 26 to 28 per cent by 2030, based on emissions from the year 2005.

Mr Fraser said in a statement the CCA recommended reductions of 45 to 63 per cent by 2030.

The CCA labelled the Government's emission reduction targets "substantially weaker" than its recommendation and said it believed Australia would "slip further behind the efforts being made by comparable countries".

Environment Minister Greg Hunt thanked Mr Fraser, saying he has had an outstanding career in public service.