Senate Update – Playing Our Part In The Global Effort To Reduce Emissions

11 August 2021

Dear friends

The Intergovernmental Panel on Climate Change’s (IPCC) Sixth Assessment Report on climate science reinforces the need for a coordinated, global effort to reduce emissions.

The report, released on the 10th August, provides an update on the latest physical science on climate change, including the rates, causes and likely future trajectories of global warming and other changes to the climate system.

Overcoming these challenges is a shared responsibility.

Australia is committed to achieving net zero emissions as soon as possible, and preferably by 2050, and to meeting and exceeding our 2030 commitment, as we already have with our 2020 targets.

Since 2018, Australia’s 2030 position has improved by 639 million tonnes (equivalent to taking all of Australia’s 14.7 million cars off the road for 15 years). The Government will release updated forecasts ahead of COP26 which are expected to show a further improvement.

These improvements are driven by Australian households and businesses adopting new energy technologies at record rates. Australia now has the most solar per person of any country in the world, the most wind and solar of any country outside of Europe, and the highest uptake of household solar in the world.

The Government’s Technology Investment Roadmap is positioning Australia to be a leader in the next generation of low-emissions technologies that will make net zero emissions practically achievable.

To achieve this goal, the Government will invest $20 billion in new energy technologies by 2030, to drive at least $80 billion of total public and private investment over the decade. This investment will support at least 160,000 new jobs.

The Government’s technology led plan includes investing in: clean hydrogen; electricity storage; low emissions steel and aluminium production; carbon capture and storage; and soil carbon sequestration.

We are focused on getting low emissions energy sources to commercial parity with high-emitting alternatives to reduce emissions across all sectors of the economy while creating jobs and economic growth. This is a practical approach with global application.

Australia is driving increased global cooperation on low emissions technologies through new international partnerships with Germany, Japan, Singapore and the United Kingdom and constructive engagement in multilateral forms like Mission Innovation.

When it comes to emissions reduction, our record is one of delivery and achievement that Australians can be proud of.