Australia has set a bold new target to reduce its greenhouse gas emissions by 62% to 70% below 2005 levels by 2035. This ambitious goal is part of the country’s broader strategy to achieve net-zero emissions by 2050.
Prime Minister Anthony Albanese explained that this target is not only scientifically sound but also critical for the nation’s future. It aims to ensure environmental protection, economic growth, and long-term prosperity for Australians. The government’s plan involves comprehensive action across several sectors, including energy, industry, and transport.
As part of its strategy, Australia has committed substantial funding to support the transition to a low-carbon economy:
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A$5 billion will go into the Net Zero Fund to help industries decarbonize.
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A$2 billion will be invested in the Clean Energy Finance Corporation to make clean energy more affordable.
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A$1.1 billion will support the production of clean fuels.
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A$40 million will help expand electric vehicle charging infrastructure.
These efforts aim to reduce emissions across multiple industries while transitioning to cleaner energy sources and innovative technologies. The government also aims to increase the availability of electric vehicles and clean energy options for households and businesses.
However, while the 2035 target is a major step forward, some experts feel it falls short of the action required to meet global climate goals. The Climate Change Authority had suggested even deeper reductions of up to 75% by 2035.
Nonetheless, the new target is seen as a significant milestone in Australia’s journey to fight climate change, and its success will have a global impact, especially as Australia presents its pledge at the United Nations.
