Queensland right to walk away from ‘net zero’

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Two months ago, the Queensland government signalled a major retreat from net zero, announcing it would extend the life of coal-fired power stations until the mid-2040s and expand gas generation capacity under its new five-year energy roadmap.

The move significantly undermined the Albanese government’s ambitious 62% to 70% emissions reduction target by 2035.

The five-year road map represented a major shift away from the former Labor government’s energy policy, which depended heavily on two large pumped hydro proposals, both of which have been scrapped or downscaled by the new LNP government, along with the phasing out of coal-generated power between 2028 and 2035.

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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.