Australia plans to achieve net zero emissions by 2050
Australia plans to use domestic and international carbon offsetting to reduce emissions by 10-20% to achieve its net zero emissions target by 2050, and further reduce emissions by 15% in the future through new technologies.
Australia is the world’s largest exporter of liquefied natural gas and the second largest exporter of thermal coal. It is also the world’s largest exporter of iron ore and metallurgical coal (two key materials for steel production). In addition, it is also one of the countries with the highest per capita emissions among developed countries. The country was previously unwilling to support any policies to reduce fossil fuel use, but now provides conditional support for the net zero emissions target. On October 26th, Australia released a long-term emission reduction plan, which set a target of reducing emissions by 35% by 2030, lower than the 2005 level and exceeding the initial set of 26-28%.
At least four state governments in Australia have committed to significantly reducing emissions compared to the federal government, which is equivalent to a national reduction of about 34% by 2030.
