Overview

• The Albanese government will unveil its 2035 emissions target by mid-September, with Chris Bowen saying the goal will be ambitious and achievable and may not be legislated.
• A Business Council of Australia report by McKinsey estimates $435–$530 billion in capital would be required to cut emissions by more than 70% by 2035, with potential annual export losses of $100–$150 billion from reduced coal and gas.
• The modelling underscores implementation hurdles, calling for faster environmental approvals, a more responsive migration system, and about 59,000 additional skilled workers by 2030 for a 60% pathway.
• Climate advocates press for a top-of-range 71–75% cut and for the target to be put into law, while the Greens say anything below 71% would be a backwards step given state and territory commitments.
• Policy tensions over transport are resurfacing as Treasurer Jim Chalmers advances EV road‑user charging and Bowen defends incentives, with a Net Zero Plan and the first national climate risk assessment due shortly.