Australia could achieve net-zero emission by 2050
POWER & RENEWABLE ENERGY

Australia could achieve net-zero emission by 2050

With abundant cheap solar and wind energy, Australia could become a carbon-neutral economy by 2050 but will require a more ambitious climate target for 2030 to achieve this target, according to a report from international climate policy experts. A path to net-zero emissions is technically and economically feasible for Australia and is in accordance with the 2016 Paris Climate Agreement. This transition could also create thousands of new employment opportunities in the renewable energy industry and secure the future of the country from economic shocks. The CAT report made use of two different models covering energy systems and climate policies to discover how the country could reach the net-zero goal by 2050.

A large number of Australia’s key trading partners like Japan and South Korea, including those who purchase most of the country’s LNG and coal exports, have decided to endorse a net-zero target by the year 2050. President-Elect Joe Biden of the United States has made cutting emissions an important objective for his administration and has mentioned that the United States will also reach the net-zero goal by 2050 and have 100% renewable electricity by 2030. Meanwhile, the world’s biggest emitter, China, seeks to achieve the net-zero goal by the year 2060.

Reaching the net-zero goal implies that a country’s greenhouse emissions from activities like using fossil fuels and mining are balanced by the uptake of carbon in forests, soils, and technologies like carbon capture and storage. In Australia, the Morrison government has pledged to keep its current targets and aims to reach the net-zero goal by the second half of this century.

However, some experts say that this objective is at odds with the Paris Agreement of 2016. According to Ursula Fuentes Hutfilter, a senior climate policy adviser at Climate Analytics and a lead author of the CAT report, the biggest missing piece for Australia is the need to have a consistent approach across the economy. According to the CAT report, Australia’s 2030 target should be raised to 66% above the levels calculated in 2005 so that the country can reach its 2050 goal.

Hutfilter stated that policies such as emission standards in the transport sector, national energy renewable target, support for electric vehicles and energy efficiency incentives in the industry were all being incorporated in other developed countries, but were absent in Australia. The CAT modelling revealed that gas, which is the source of 20% of Australia’s electricity, would drop to 3% by 2030 and be gone by 2040. Moreover, stopping deforestation would reduce reliance on other carbon trapping technologies. The report also suggests that Australia’s export-focused LNG sector would be the most difficult to decarbonise. While the current policies of Australia would create 25,600 direct jobs in the power generation sector, a shift in policies in line with the Paris Agreement of 2016 would emphasise local manufacturing and deliver 62,300 direct jobs.

With abundant cheap solar and wind energy, Australia could become a carbon-neutral economy by 2050 but will require a more ambitious climate target for 2030 to achieve this target, according to a report from international climate policy experts. A path to net-zero emissions is technically and economically feasible for Australia and is in accordance with the 2016 Paris Climate Agreement. This transition could also create thousands of new employment opportunities in the renewable energy industry and secure the future of the country from economic shocks. The CAT report made use of two different models covering energy systems and climate policies to discover how the country could reach the net-zero goal by 2050. A large number of Australia’s key trading partners like Japan and South Korea, including those who purchase most of the country’s LNG and coal exports, have decided to endorse a net-zero target by the year 2050. President-Elect Joe Biden of the United States has made cutting emissions an important objective for his administration and has mentioned that the United States will also reach the net-zero goal by 2050 and have 100% renewable electricity by 2030. Meanwhile, the world’s biggest emitter, China, seeks to achieve the net-zero goal by the year 2060. Reaching the net-zero goal implies that a country’s greenhouse emissions from activities like using fossil fuels and mining are balanced by the uptake of carbon in forests, soils, and technologies like carbon capture and storage. In Australia, the Morrison government has pledged to keep its current targets and aims to reach the net-zero goal by the second half of this century. However, some experts say that this objective is at odds with the Paris Agreement of 2016. According to Ursula Fuentes Hutfilter, a senior climate policy adviser at Climate Analytics and a lead author of the CAT report, the biggest missing piece for Australia is the need to have a consistent approach across the economy. According to the CAT report, Australia’s 2030 target should be raised to 66% above the levels calculated in 2005 so that the country can reach its 2050 goal. Hutfilter stated that policies such as emission standards in the transport sector, national energy renewable target, support for electric vehicles and energy efficiency incentives in the industry were all being incorporated in other developed countries, but were absent in Australia. The CAT modelling revealed that gas, which is the source of 20% of Australia’s electricity, would drop to 3% by 2030 and be gone by 2040. Moreover, stopping deforestation would reduce reliance on other carbon trapping technologies. The report also suggests that Australia’s export-focused LNG sector would be the most difficult to decarbonise. While the current policies of Australia would create 25,600 direct jobs in the power generation sector, a shift in policies in line with the Paris Agreement of 2016 would emphasise local manufacturing and deliver 62,300 direct jobs.

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?