Australia's main parliamentary opposition the Liberal Party has dropped its four-year-old policy of targeting net zero greenhouse gas (GHG) emissions by 2050, citing the expense of meeting the goal.
If elected, the Liberal Party will remove the 2030 target of cutting greenhouse gas (GHG) emissions by 43pc from 2005 levels and the target of net zero emissions by 2050 from the Climate Change Act, leader Sussan Ley said on 13 November, accusing the Labor government of lying to the public on electricity prices and the cost of the energy transition.
The centre-right party last held government from 2013-22 and adopted a policy targeting net zero by 2050 in 2021, under former prime minister Scott Morrison and during the US presidency of Joe Biden, a keen advocate of emissions reduction.
Australia would remain in the Paris Agreement and commit to short-term targets under a future Liberal-led government, Ley said, without elaborating on what this would mean for the nation's 2030 and 2035 nationally determined contributions (NDC) to GHG reduction.
The Liberals would cut emissions year-on-year via five-year blocks according to the NDC, said energy spokesman Dan Tehan, promising to prioritise energy affordability.
"We will also reduce emissions in line with comparable countries by looking at what like-minded countries are doing overseas and making sure we are doing our fair share," Tehan said, adding that future development of technologies like carbon capture and storage would slash net emissions.
The decision comes days after the Liberals' minority partner in the federal Coalition, the Nationals, agreed to dump a commitment to a legislated net zero emissions goal.
Australia's Labor prime minister Anthony Albanese has doubled down on the nation's GHG reduction goals since 2022, recently unveiling a 62-70pc emissions reduction plan by 2035. Labor dominates the federal parliament and is likely to govern until 2031, in concert with the left-wing Australian Greens in the nation's upper house, the senate.
Australia's next federal election must be held by 20 May 2028, but the Coalition is considered unlikely to return to power, having won just 43 out of 150 seats at this year's poll.
