Letter to the Climate Change Authority's (CCA) Targets, Pathways and Progress 2024 Issues Paper
14 May 2024
The Business Council of Australia (BCA) welcomes the opportunity to comment on the Climate Change Authority's (CCA) Targets, Pathways and Progress 2024 Issues Paper in the context of the Australian Government's Net Zero 2050 Plan and Australia's 2035 emissions reduction target.
The scale, breadth and complexity of the transition to net zero has been described as the next industrial revolution by some commentators and equated with world war mobilisation efforts by others. The Net Zero Australia study estimates a cumulative capital investment of $7 to 9 trillion is required to transition our economy to net zero.
BCA 2035 target work program
The BCA is currently engaging with its membership to determine its view on an appropriate national 2035 emissions reduction target with a line of sight to achieving net zero by 2050. This work is based on a granular 'ground up' analysis of emissions abatement opportunities and challenges across each of the six sectors defined in the Australian Government's Net Zero 2050 Plan.
The work is focussed on each of the six sectors in their own right and takes an integrated view of emissions abatement opportunities and challenges across the economy.