The Australian federal government has officially announced its emissions reduction target for 2035, committing to a reduction of carbon emissions by 62-70% compared to 2005 levels. Prime Minister Anthony Albanese highlighted that this ambitious target is grounded in scientific evidence and will be supported by a practical plan leveraging proven technology. He emphasised the target’s importance in safeguarding the environment, bolstering the economy, and ensuring a sustainable future for generations to come.
The new emissions target surpasses New Zealand’s aim of 51-55%, although it is less aggressive than the United Kingdom’s legal obligation to cut emissions by 81% relative to 1990 levels. To facilitate the achievement of this goal, the government has proposed significant funding initiatives, including a $5 billion net zero fund. This fund is intended to assist the mining and heavy industry sectors in their efforts to decrease emissions. Additionally, the government plans to invest millions in infrastructure to support the rollout of curbside fast charging stations for electric vehicles, encouraging a shift towards greener transport options.
Overall, the announcement reflects a commitment to ambitious climate action while also addressing economic considerations and job preservation.