Business groups have urged the Coalition not to dump the legislated carbon emissions reduction target for 2030 and unleash a new wave of investor uncertainty, while at the same time cautioning the government that the next target for 2035 must be achievable.

As senior shadow ministers scrambled to assure that Peter Dutton would not abandon the Paris climate accord, but could not explain what the policy would be, Anthony Albanese accused the Coalition of walking away from climate action.