The Kaipher Editorial Team 
Australia has pledged to reduce its greenhouse gas emissions by 62–70% below 2005 levels by 2035, Prime Minister Anthony Albanese announced Thursday. This significantly strengthens the nation’s current 2030 target of 43% and charts a path toward net-zero emissions by 2050, positioning Australia ahead of next month’s COP30 summit in Belém, Brazil.
Science-Based, Economically Feasible Ambition
The Climate Change Authority, an independent advisory body, recommended the 62–70% range after reviewing over 500 stakeholder submissions and conducting detailed economic modeling. Climate Change Minister Chris Bowen defended the target as “the maximum level of ambition that is achievable,” cautioning that a goal beyond 70% would be “not feasible” given current technological and economic constraints. Treasury analysis indicates that under a 65% reduction scenario, Australia’s economy could be $2.2 trillion larger by 2050, creating 5.1 million jobs, whereas a disorderly transition to net zero could shrink GDP by $1.2 trillion (Reuters; ABC News).
Financial Support for Industrial Decarbonization
To smooth the transition, the Albanese government earmarked over $8 billion in new funding:
- $5 billion Net Zero Fund for decarbonizing heavy industry
- $2 billion to the Clean Energy Finance Corporation to drive down power costs
- $1.1 billion to boost domestic production of renewable diesel and sustainable aviation fuel
These measures aim to balance climate ambition with Australia’s role as a leading coal and gas exporter—whose fossil-fuel exports generate emissions 2.5 times larger than domestic output.
Diverse Reactions
Environmental organizations decried the target as inadequate. Greens Senator Larissa Waters called the 62% lower bound “appallingly low,” accusing the government of appeasing coal and gas interests. Climate Analytics warned the target is “baffling” given Australia’s own risk assessments, noting that similar commitments worldwide would lock in at least 2 °C of warming. Greenpeace Australia Pacific argued the pledge undermines the global goal of limiting warming to 1.5 °C.
Business voices offered measured endorsement. Business Council of Australia CEO Bran Black described the commitment as “ambitious,” highlighting the need for substantial capital investment and public-private collaboration. The Chamber of Minerals and Energy WA welcomed the target as evidence of Australia’s dedication to achieving net zero by 2050 (SBS).
Global Context and Next Steps
Australia’s updated commitment will be formally submitted to the United Nations General Assembly before COP30. Under the Paris Agreement, countries must revise their national emissions targets every five years; Australia’s new target aligns it with peers enhancing their climate pledges. As one of the highest per-capita emitters, Australia’s decision is poised to influence discussions on balancing economic growth with urgent climate action.
