The Liberal-National Coalition is meeting this week to discuss its climate change policy, with abandoning Australia’s foundational climate change target – net zero climate pollution by 2050 – reportedly on the cards. This Briefing investigates the consequences for Australia and the world were Australia to take this course of action.
Key findings:
1. Abandoning net zero and Australia’s other climate targets could increase Australia’s climate pollution by 6.3 billion tonnes more over the next 25 years compared to current targets. That’s equivalent to the annual climate pollution of 3.2 billion Australian cars.
2. Abandoning net zero is aligned with global temperature rise well above 3°C. Australia would face a future of relentless disasters and economic upheaval:
- 4 times the number of severe and extreme heatwave days
- 1.5 million Australians exposed to coastal flooding by 2050, and 3 million people by 2090.
- Double the number of extreme fire days
- Vast regions becoming uninsurable
3. Reneging on our climate commitments would damage Australia’s global standing and strain ties with Pacific nations that expect us to do more – not less – on climate change.
4. Abandoning net zero would be an enormous risk to realising the broad benefits of the global clean energy transition, deterring investment in renewables and green exports.
