Blink and you might miss it, but the Albanese government has announced that it intends to release the number for Australia’s 2035 emissions reduction target “in the coming weeks.”
The statement is part of a communique issued following the latest meeting of the Energy and Climate Change Ministerial Council, held on Friday in Sydney.
“Ministers were updated on the forthcoming Net Zero Plan and Energy Sector Plans, which will underpin Australia’s 2035 emissions reduction target and chart the pathway to net zero,” the communique says.
“The Commonwealth intends to release the Plans and target in the coming weeks.”
Australia is overdue to set its next Nationally Determined Contribution under the Paris Agreement in 2025 – an emissions reduction target for 2035 that will sit somewhere between the 2030 target of 43% below 2005 and the ultimate goal of net zero emissions by 2050.
A final decision has hinged on final advice from the independent Climate Change Authority, whose draft advice suggested an indicative 65–75% cut to emissions by 2035.
There’s plenty of pressure to aim higher that that, though, including from ClimateWorks, whose modelling suggests emissions reduction up to 85% is achievable – and preferable in terms of boosting Australia’s competitive advantages on the road to a net zero economy.
On the other hand, Australia’s biggest business lobby group in June called for a weak 2035 emissions reduction target, despite some of its own key member organisations aiming for net zero by that date and warning of “climate-driven market failure.”
“Were the government to set a more ambitious 2035 NDC, ACCI would be greatly concerned about the impact on the productivity, competitiveness and viability of Australian businesses, as well as the cost to the taxpayer,” the Australian Chamber of Commerce and Industry (ACCI) wrote in a submission to the Productivity Commission.
Where the government lands on ambition for the 2035 target will be important to Australia’s bid to host UN climate talks in 2026, which was also mentioned in the communique.
“Jurisdictions also welcomed the Commonwealth’s bid to host COP31 in Adelaide in 2026 and the economic opportunities it provides to drive Australia’s energy transition and pathway to net zero by 2050,” it says.
