Hopes of a bipartisan accord to break an impasse over the renewable energy target have dimmed, with Labor saying it won't be a party to a broken election promise by the government.

The stance comes as a new report showed Australia leading the world over the past two years in achieving economic growth while shrinking greenhouse gas emissions – a standing now at risk without a price on carbon and uncertainty all but halting new investment in large-scale renewable energy.

Mark Butler, Labor's climate change spokesman said the government had shattered the notion of bipartisanship over the renewable energy target. Credit:Alex Ellinghausen

Mark Butler, Labor's climate change spokesman, said the government had reneged on its promise to leave the renewable energy target unchanged.

"The Abbott government shattered any notion of bipartisanship on the RET when it walked away from its election commitment to keep the existing 41,000 [gigawatt-hour] by 2020 target," Mr Butler said.