Businesses now have a practical plan to achieve the technological and economic transition towards net zero. This will drive investment, growing business and creating jobs while ensuring a more sustainable future.
“Reaching net zero emissions by 2050 is an imperative for the Australian business community,” Australian Chamber of Commerce and Industry chief executive Andrew McKellar said.
“Australia needs to pull its weight when it comes to action on climate change, in line with domestic and international expectations. The Federal Government’s announcement today confirms the importance of reducing our emissions while growing our economy and ensuring future prosperity.
“The plan gives confidence to business, to workers and to regional communities that Australia is taking credible action on climate change, while ensuring energy remains reliable and affordable.
“With our skilled workforce and abundant renewable resources, Australia is in a prime position to develop innovative renewable technologies to address climate change. This will support job creation, grow businesses, and drive our economic recovery.
“The $20 billion investment for the research, development and commercialisation of low emissions technologies including clean hydrogen, battery storage and ultralow-cost solar are huge opportunities for Australian businesses and will put us on the path to achieve net zero.
“Businesses and industry must have access to the modelling behind the Government’s plan to ensure the effective implementation of transitional measures.