Scott Morrison reveals Coalition’s 2050 net zero emissions plan

The prime minister today confirmed his government would formally commit to net zero emissions by 2050. Here are the details.

Australia is on track to achieve a 30 to 35 per cent emissions reduction by 2030, but will not be formally updating the interim target on the path to net zero by 2050.

Prime Minister Scott Morrison on Tuesday confirmed his government would formally commit to net zero emissions by 2050, describing his approach to the goal as “the Australian way”.

The electricity generation sector expected to achieve the largest emissions reductions – almost entirely net zero – followed by transport, with heavy industries, mining and agriculture largely expected to only reduce emissions by less than half.

Prime Minister Scott Morrison confirmed the government would commit to net zero emissions by 2050 on Tuesday. Picture: NCA NewsWire / Martin Ollman

Soil carbon and carbon capture and storage will be relied on as offsets for heavy industries.

The plan has a range of “technology goals” with a “new priority” of “ultralow-cost solar” which would get solar electricity generation down to $15 per MWh.

According to the government’s plan Australians will be nearly $2,000 better off on average in 2050, compared to no action on climate.

The national’s Gross National Income will be 1.6 per cent higher, and there would be 62,000 new regional mining and heavy industry jobs created.

Mr Morrison said there would be no taxes or legislated targets and mechanisms.

He said he would not raise electricity costs and would not put industries, regions or jobs “at risk”.

Energy and Emissions Reduction Minister Angus Taylor said new modelling showed Australia was on track to exceed its interim target of a 26 to 28 per cent reduction on 2005 levels by 2030.

Instead Australia is already on track to reduce emissions by 30 to 35 per cent in the next two decades.

Climate change protesters set up a tents on the lawns of Parliament House in Canberra. Picture: NCA NewsWire / Gary Ramage

After securing “in-principle” support from the Nationals for net-zero, Mr Morrison on Monday promoted Resources and Water Minister Keith Pitt to the cabinet, boosting the junior Coalition party’s power within government.

“Minister Pitt has been a strong advocate for regional and rural communities, both in his portfolio responsibilities and as a local MP,” Mr Morrison said.

He said Mr Pitt would “work closely” with Energy and Emissions Reductions Minister Angus Taylor to ensure Australia reached its climate targets “through technology that will empower our industries and regional communities”.

Mr Pitt said he would be focused on the hundreds of thousands of men and women across Australia who make a “significant contribution” to the water and resources sectors.

Opposition leader Anthony Albanese condemned Mr Pitt’s promotion and said the government must legislate any commitment to net zero emissions by 2050.

“The only beneficiary of the change of policy is the Minister for Resources,” he said.

“It’s always about them, not about the substance of what Australia needs.”

Mr Morrison said the Coalition would not break its election promise by increasing its 2030 emissions reduction target of 26 to 28 per cent on 2005 levels, despite pressure from moderate Liberals to up this interim goal.

Originally published as Scott Morrison reveals Coalition’s 2050 net zero emissions plan