Labor has set a long term goal of net zero pollution by 2050. This will ensure Australia delivers on the global, bipartisan goal of limiting global warming to well below two degrees Celsius on pre-industrial levels.
If we do not act, Australia will continue to experience an increase in extreme weather events, more severe droughts and rising sea levels. All of which will come at an incredibly high cost to our economy, our environment and our way of life.
Labor accepts the science that limiting global warming to well below two degrees Celsius is necessary to avert dangerous climate change. That commitment requires Australia to be a net zero pollution economy by the middle of the century.
Transitioning Australia to a net zero emissions economy by 2050 requires a decarbonisation pathway.
Under Labor, this pathway will have a number of milestone targets to ensure that Australia is on-track. Experts, the environment sector and vulnerable nations strongly advocate for five year pledge and review arrangements and the UK, US, China and France have also proposed this.
A Shorten Labor Government will implement a five yearly pledge and review mechanism to assess progress and to adjust commitments over time.
To achieve the target of net zero pollution by 2050, Labor has set a target at 2030 for a 45 per cent reduction in carbon pollution on 2005 levels. And within a year of coming to Government we will also put in place a 2025 target.
A 45% target is in line with recommendation of the Climate Change Authority and is the minimum level required to ensure that Australia can deliver and remains consistent with the objective in the Paris Agreement of keeping global warming to well below two degrees Celsius.
Labor will also continue to support the independence and expert-led Climate Change Authority. That is why Labor will commit $17.4 million over the forward estimates to reverse the Government’s abolition of the Climate Change Authority and ensure that it continues to be appropriately resourced to achieve its role.