Australia will aim to cut greenhouse gas emissions by 62 to 70 percent by 2035, in what the Albanese government is calling the most ambitious climate pledge in the nation’s history.
Prime Minister Anthony Albanese confirmed the target in Sydney on Sept. 17, flanked by Treasurer Jim Chalmers, Energy Minister Chris Bowen, and Climate Change Authority Chair Matt Kean.
“This is a responsible target, backed by the science, backed by a practical plan to get there and built on proven technology,” Albanese said.
“This is the right target to protect our environment, to protect and advance our economy and jobs, and to act in our national interest for future generations.”
The announcement comes days before Albanese departs for New York to present the target at the United Nations General Assembly.
Kean said the blueprint was built on 500 submissions, 560 meetings, and sector-by-sector modelling. He argued the transition is an opportunity, not a burden.
“There is a path that will deliver benefits and savings, not costs,” he said, adding the target range positions Australia as a global climate leader.
Around $9 Billion in New Spending Commitments
The government paired the pledge with major funding commitments.
An extra $2 billion will flow to the Clean Energy Finance Corporation to accelerate renewable projects. Another $5 billion will establish a Net Zero Fund under the National Reconstruction Fund to help heavy industry decarbonise and expand low-emissions manufacturing.
Other measures include $1.1 billion for clean fuel production, $40 million to speed up kerbside and fast EV charging, $85 million for household and business energy efficiency programs, and $50 million to help community sports clubs cut emissions.
“These commitments provide the framework for industry and investors to move decisively,” Bowen said, positioning the package as a signal to capital markets as well as voters.
