Overview

• Prime Minister Anthony Albanese unveiled the 62–70% cut from 2005 levels for 2035 and plans to present the pledge at the United Nations General Assembly.
• The package includes $5 billion for industrial decarbonisation, a $2 billion boost to the Clean Energy Finance Corporation, and $1.1 billion for low‑carbon liquid fuels.
• The range sits under the Climate Change Authority’s recommended 65–75%, drawing criticism from the Greens and opposition while business groups cautioned against higher cuts.
• Analyses highlight the plan’s reliance on future carbon removal and carbon capture, with skeptics warning these technologies may not deliver at required scale.
• The government declined to endorse specific milestones in expert advice, such as rapid EV uptake and renewables build‑out, and Treasury modelling faces scrutiny for assuming strong global action.