Overview

• The Climate Change Authority is due to deliver advice within days, with consultations pointing to a 65–75% cut by 2035 and expectations coalescing around the mid‑60s to low‑70s.
• Chris Bowen says he will decide on legislating the new target after it is announced, with the Greens holding the Senate balance and indicating they expect at least a figure in the 70s.
• Business Council–commissioned McKinsey modelling estimates achieving about 70% would need $435bn–$530bn in capital and could cut coal and gas export value by $100bn–$150bn a year.
• The Business Council analysis excludes economic benefits and climate damages, while separate Deloitte work for Business for 75 projects a 75% path could add $370bn to GDP and average 45,000 extra jobs annually.
• The government plans to release its Net Zero Plan and the first national climate risk report within days, with Bowen saying the assessment will underscore the cost of inaction.