The Grattan Institute has released a new report, entitled “Towards net zero: A practical plan for Australia’s governments”, which calls on Australia to act now to lift its rate of carbon emissions reduction, or it has little chance of reaching net zero by 2050.
Below is the reports Summary and Recommendations, alongside some key charts:
Summary
Australia’s climate change commitment is net-zero emissions by 2050. The latest projections indicate the target of 26-to-28 per cent below 2005 levels by 2030 will be bettered. However, continuing at that rate of reduction will leave a very big offsetting challenge in 2050. Practical actions taken by governments now can close the gap.
The full text of this article is available to MacroBusiness subscribers
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
