Australia has unveiled a new climate ambition, pledging to cut greenhouse gas emissions by 62% to 70% below 2005 levels by 2035. 

The announcement marks a significant step up from the country’s current target of a 43% reduction by 2030, forming the centerpiece of Australia’s updated Nationally Determined Contribution (NDC) under the Paris Agreement, which countries review and strengthen every five years.

To deliver on the new 2035 goal and its existing 2050 net-zero commitment, the government has introduced a comprehensive Net Zero Plan. The strategy is backed by six sector-specific emissions reduction plans and outlines priority areas for investment, including:

•    Expanding clean electricity generation and building new transmission and storage infrastructure.
•    Accelerating electrification and efficiency through measures such as a national vehicle efficiency standard and incentives for electric vehicle adoption.
•   Developing clean fuels by establishing a low-carbon liquid fuels industry and supporting green hydrogen production.
•    Scaling up carbon removal, particularly land-based solutions such as reforestation.

Supporting these measures, the government has announced more than $8 billion (USD $5.3 billion) in climate-related investments. This includes a $5 billion Net Zero Fund to help industrial facilities decarbonize, $2 billion for the Clean Energy Finance Corporation, and $1.1 billion to boost clean fuels production. 

Additional funding will target fast EV charging networks, household energy upgrades, and even decarbonization programs for community organizations such as sports clubs.

Prime Minister Anthony Albanese described the 2035 target as both “responsible and science-based,” emphasizing that it is underpinned by a practical roadmap and proven technology. He highlighted not only the environmental but also the social and economic benefits, stressing that the plan is in the interest of Australia’s future generations.

Source :

https://www.esgtoday.com/australia-sets-goal-to-reduce-ghg-emissions-by-62-70-by-2035/

https://www.bbc.com/news/articles/cvgn6mvvxm3o