Australian Treasurer Josh Frydenberg is set to make the economic case for setting a 2050 net-zero emissions target for the country
Freydenberg says Australia is not transitioning in line with the rest of the world.
The treasurer will meet with business leaders on Friday, in the lead-up to the fast-approaching COP 26 climate summit in the UK.
Freydenberg will note that trillions of dollars are being used globally to support the net-zero transition… with a total of 129 countries now committed to reaching net zero by 2050.
This comes as one of the country’s leading banks “coordinated more than 50 transactions worth $100bn in climate finance-related activities” over the past year.
It follows Defence Minister Peter Dutton and Foreign Affairs Minister Marise Payne meeting with counterparts in the U-S over the past week and signing off on a climate action report.
This report acknowledges that climate change is a global security threat, and reflects a commitment to “make low emissions technologies globally scalable and commercially viable”
