Overview

• New Liberal leader Sussan Ley has announced a review of the Coalition’s net zero by 2050 target, raising the possibility of abandoning the bipartisan commitment.
• Nationals senator Matt Canavan declared the net zero policy 'mortally wounded,' highlighting deep divisions within the Coalition over climate policy.
• Climate Change Minister Chris Bowen criticized the review, warning of sovereign risks for renewables investors and accusing the Coalition of reigniting 'climate wars.'
• The Albanese government remains committed to legally binding targets of a 43% emissions reduction by 2030 and net zero by 2050, emphasizing investor confidence and energy transition goals.
• Australia is actively bidding to host the COP31 climate summit in Adelaide, competing with Turkey, with a decision expected in the coming months.