Australian government legislates for net zero by 2050, locks-in pledge to prevent future reversals

Aug 4, 2022 04:24 PM ET
  • Last week, the Australian federal government proposed legislation that will certainly lock-in Australia's commitment to accomplish net zero by 2050 along with offering greater oversight as well as accountability over progression on climate change in a sharp separation from the previous administration.
Australian government legislates for net zero by 2050, locks-in pledge to prevent future reversals
Image: Australian Labor Party via Twitter

Dubbed the Climate Change Bill 2022, the Bill has four key parts that lawmakers hope will catapult a nation frequently seen as dragging its heels on climate change into a placement of climate leadership.

While Australia's previous Conservative administration devoted to a net zero 2050 target, it declined to preserve this right into nationwide legislation in a move which at the time was called "unsatisfactory" as well as "unambitious" by the country's Clean Energy Council.

Now, under the just recently chosen Labor government, nonetheless, the country looks readied to pass the new legislation, with the help of the nation's Green Party, that will devote it to minimizing greenhouse gas emissions by 43% listed below 2005 degrees by 2030, prior to reaching net zero by 2050.

Australia's minister for the recently created department of Climate Change and also Energy, Chris Bowen, claimed the regulation would certainly send out solid signals to the energy industry concerning the intents of the new administration in addition to renew the country's standing on the global stage.

Most importantly, the Bill locks in these commitments into the long term via getting key government agencies, such as ARENA, Clean Energy Finance Corporation (CEFC) and Infrastructure Australia, to make the regulation part of their mandates, meaning future governments will be much harder pressed to alter or eliminate the targets.

The leader of Australia's Green Party, Adam Bandt, tweeted that his party had actually "safeguarded changes to Labor's weak climate regulation as well as will certainly elect to pass it" yet added that he was disappointed in the administration's assistance for new coal and gas projects as he promised to eliminate any kind of increased investment in fossil fuels.

Complying with the news, Australia's rating on Climate Action Tracker has been ungraded from "very inadequate" to just "inadequate", a label numerous various other industrialized nations have. It's residential target, nevertheless, was bumped as much as "practically sufficient".

"The new government has an opportunity to increase its climate action in the crucial period to 2030. To attain this the Albanese Government needs to abandon its support for new fossil fuel projects, which will certainly drive emissions up, not down," the climate monitoring organisation stated.

The Bill likewise requires the country's independent Climate Change Authority offers advice and updates on Australia's development against those newly strengthened targets, while a separate area requires the priest for Climate Change to supply annual reports to the nation's Parliament on progress in fulfilling the targets.

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