Overview

• The government will present the new pledge at the United Nations General Assembly next week, building on the legislated 43% cut by 2030 and a net‑zero goal for 2050.
• An updated Net Zero Plan was released with funding that 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.
• Prime Minister Anthony Albanese and Climate Change Minister Chris Bowen said targets above 70% are not achievable under current conditions.
• The Climate Change Authority had advised a 65–75% cut by 2035, and environmental groups warn the pathway relies heavily on uncertain engineered carbon removals and carbon capture.
• Opposition leaders dismissed the target as not credible and business groups cautioned that cuts beyond 70% could jeopardize competitiveness and exports.