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On Thursday, Prime Minister Anthony Albanese unveiled Labor’s long-awaited 2035 climate targets, which promise to reduce emissions by more than 62% and up to 70%.
The promise expands on Australia’s existing 2030 target to reduce emissions by 43% from 2005 levels.
The Paris Agreement, reached a decade ago, requires nations to lift their carbon reduction targets every five years and cannot be watered down.
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About the author
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.