The Morrison government’s plan to achieve net zero by 2050 helps build the certainty businesses need to get on with the transition by investing and creating new jobs, Business Council chief executive Jennifer Westacott said.
“We now have a bipartisan commitment to net zero emissions by 2050 that clears the way for businesses to continue leading the transition.
“This is a chance for Australia to draw a line under the last decade of division and get on with the task of transitioning to a low emissions economy.
“This is a step towards delivering greater certainty so businesses can make investments in new technology, create new industries and deliver new jobs.
“The government has outlined a set of clear principles to guide Australia’s path to net zero by 2050 and make sure that Australians are winners in this change.
“The updated Technology Roadmap will help harness business capability and private sector capital to drive the transition.
“By bringing Australia into line with our major trading partners, a net zero commitment will help us sell even more of our products and services to the world by keeping our exports competitive.
“Big investments in skills, new technologies like hydrogen and critical minerals will be crucial to positioning Australia to take advantage of new markets and opportunities in a low emissions world.
“We also welcome the government’s comprehensive accountability mechanism to monitor the impact of this transition on the regions.
“A dedicated authority to work proactively with regional communities and ensure they reap the benefits of low carbon opportunities should be considered as a part of this plan.
“It’s encouraging to see the government’s updated projections show we are on track to beat our 2030 target so early in the decade.
“The fact that Australia is over performing so early in the decade means we have a huge opportunity to do some of the heavy lifting earlier and more efficiently.
“This is a crucial step to securing our economic future with a clear, investment driven plan that lets us deliver on ambitious goals and deliver new jobs.
“Businesses will continue to work with the government to reduce emissions at the lowest possible cost, leave Australians better off and build even stronger regions.”