Australia finally seems poised to make an exciting and courageous announcement at the upcoming United Nations climate meeting in New York. The country intends to pledge to reduce its greenhouse gas emissions by 62 to 70 percent from 2005 levels. This ambitious target, supported by a “practical plan” articulated by Prime Minister Anthony Albanese, aims to elevate Australia’s climate ambitions and demonstrate a responsible approach to tackling climate change.
The announcement is a watershed moment for Australia as it looks to transition its energy landscape. To meet the 2035 climate goals, the country must shift its renewable energy capacity from less than half of its current power usage to approximately 95 percent within the next decade. This enormous change is needed for Australia to honour its pledge of reaching net-zero emissions by 2050.
The Path to Renewables
Making that kind of jump to such an extreme percentage of renewable energy capacity won’t be easy. We know that cleaner electricity will make up about one half of the overall climate mitigation efforts required to reach net-zero emissions. As we’ve previously written, the federal government understands that this initiative will take massive investments and infrastructure build-out.
To realize the ambitious targets set for 2035, Australia will need to drastically increase the number of rooftop solar installations. Experts agree that the nation will need at least twice as many solar panels as we have installed today. The electric vehicle (EV) sector definitely needs to grow rapidly. If projections are anything to go by, Australia will need at least twenty times the number of EVs we have today.
Energy Minister Chris Bowen expressed optimism about the future of EV sales, stating, “With Australians installing a thousand batteries a day, taking up EVs at record rates, that tells me that Australians are keen on that journey.” This optimism is indicative of a broader renewable energy and sustainable transportation boom occurring within Australian households.
The Role of Policy
The safeguard mechanism is central to Australia’s emission reduction plan. This commonsense policy helps make sure that these industrial behemoths are responsible for the pollution they release. To meet Paris agreement targets, companies need to reduce all their emissions—scope 1, 2, and 3—by an average of 5% annually. Or they can purchase offsets to meet their requirements. Bowen pointed out that the safeguard mechanism is working well, and that it’s scheduled for a review next year.
The Climate Change Authority (CCA) has underscored the importance of guiding both businesses and households towards choices that align with Australia’s climate goals. This guidance will be critical as the nation continues to wrestle with the challenges inherent in moving in a cleaner, more energy efficient direction.
The Albanese government’s commitment to enhancing EV infrastructure includes increased funding for charging stations, addressing one of the significant barriers to widespread EV adoption. Advocacy groups, including the Electric Vehicle Council, have been agitating for increased subsidies. Their goal is to get more electric vehicles in the hands of consumers.
Challenges Ahead
Australia’s path to realizing its new ambitious climate targets is not an easy one. Although the federal government has provided a real roadmap to get there, it admits reaching these ambitious targets “won’t be easy.” Experts are cautioning that fierce cooperation between private- and public-sector entities will be key in leading this transformation.
The ambitious nature of Australia’s targets is indicative of a growing understanding that urgent action on climate change is necessary and unavoidable. The country’s newly updated climate commitment is a big step forward in meeting its international obligations. It will do so while addressing urgent environmental justice issues here in the United States.
