Albanese set to announce Australia’s 2035 emissions target

In Short:
– Prime Minister Albanese to announce Australia’s 2035 emissions target, aiming for 60-75% reduction from 2005 levels.
– States have set targets of 70-80%, while reactions from the Coalition reflect resistance to net zero commitments.

The Prime Minister is set to announce Australia’s 2035 emissions reductions target on Thursday.

Following a trip to Papua New Guinea, Anthony Albanese seeks cabinet approval for the target, expected to be between 60 to 75 per cent based on 2005 levels.

Australia currently risks missing its 43 per cent 2030 target, before aiming for net zero emissions by 2050, as committed under the Paris Agreement.

Energy Minister Chris Bowen stated the target will be “ambitious and achievable,” balanced by Treasury modelling.

State Targets

States like New South Wales and Queensland have set legislative targets of 70 and 75 per cent, respectively.

Meanwhile, Victoria’s target ranges from 75 to 80 per cent. Internationally, New Zealand targets a reduction of 51 to 55 per cent, and Canada aims for 45 to 50 per cent.

Reactions from the Coalition are anticipated, especially following resistance from members such as Andrew Hastie, who has threatened to dissent against the net zero agenda.

Barnaby Joyce has proposed a bill to repeal the 2050 commitment, while Sussan Ley awaits the outcome of a policy review, questioning the costs associated with meeting these targets.