Australia Vows to Slash Emissions by 62-70% by 2035 in Bid to Save the Planet – But Critics Slam ‘Timid’ Target as Climate Groups Demand More
- Australia will submit a new 2035 emissions reduction target to the United Nations, aiming to cut greenhouse gas emissions by 62-70%
- The ambitious plan has been welcomed by some, but climate groups have slammed it as “timid” and demanded a more drastic reduction of at least 70%
- Prime Minister Anthony Albanese says the target is based on “independent advice” and will protect the environment, economy, and jobs
- Treasurer Jim Chalmers claims the plan will lead to a larger economy and higher wages, but Opposition Leader Sussan Ley has labelled it “not credible”
Prime Minister Anthony Albanese has announced that Australia will vow to cut its emissions by 62-70% by 2035, in a bid to save the planet from catastrophic climate change. The ambitious plan has been welcomed by some, but climate groups have slammed it as “timid” and demanded a more drastic reduction of at least 70%.
“It’s the right target to protect our environment, to protect and advance our economy and jobs, and to ensure that we act in our national interest and in the interest of this and future generations,” Mr Albanese said. “It’s based upon the science, and it is independent advice to the government.”
Treasurer Jim Chalmers claims the plan will lead to a larger economy and higher wages, saying that Treasury modelling suggests real wages would be 2.5% higher in 2050 and real GDP per person $2,100 higher than if there was no target to reduce emissions. However, Opposition Leader Sussan Ley has labelled the plan “not credible”, saying that it is built on the assumption that the government’s 2030 target will be reached.
“It can’t be believed because the government assumes that the 2030 target is in fact met, when clearly it will not be,” Ms Ley said. “The modelling needs to be very carefully interrogated, I do not accept the modelling this government brings down.”
Climate Change Minister Chris Bowen said the energy transition presented Australia with an economic opportunity – if it gets it right. “Today the Albanese government decided to seize that opportunity,” Mr Bowen said. However, climate groups have reacted with disappointment at the target, with the Australian Conservation Foundation deriding it as “timid” and the Smart Energy Council saying that 70% should be considered the minimum ambition.
The target will be submitted at a United Nations meeting next week, where other world leaders will also commit updated targets. But the figure will be expected to disappoint some climate groups, who had asked for a target of at least 70% to have any chance of keeping global warming to 1.5 degrees Celsius.
Business groups have warned against a target over 70%, saying it would threaten hundreds of billions of dollars in export value. Australian Industry Group chief executive Innes Willox said reaching a 62-70% target would be challenging, but added that it was “in the realm of the feasible” with hard work and a tight focus on making Australia a place where it is easy to invest and build.