“The election of Donald Trump, his statements on climate change and positions on energy policy are likely to have a global impact,” warns Climate Change Authority chair Matt Kean.
The Albanese government will delay its 2035 emissions reduction target beyond the federal election as Donald Trump’s threats to cutting emissions force the Climate Change Authority to delay its call on Australia’s ambitions.
“The election of Donald Trump, his statements on climate change and positions on energy policy are likely to have a global impact,” Kean said.“It’s necessary to reassess and recalculate the assumptions that will inform the Climate Change Authority’s advice to the government on Australia’s Nationally Determined Contribution.
However, Climate Change Minister Chris Bowen cannot set his target until he considers advice from the CCA, and the election is due by May.Australia is banking on nascent technologies such as green hydrogen for its 2035 Nationally Determined Contribution – the official term under the Paris Agreement for a country’s climate target.
The outgoing Biden administration announced on Thursday a target for the US to cut emissions by between 61 and 66 per cent by 2035, but Trump will scrap it. Of the 124 projects that have applied for approval under national environmental laws, just 28 have reached a final decision – either approved or rejected – according to the Clean Energy Investor Group, which represents major energy investors such as Macquarie, Neoen and BlackRock.
Johns Hopkins University think tank, the Net Zero Industrial Policy Lab, said a US retreat on clean energy policy could“This is the time for Australia to lead in embracing the clean energy transition,” Merzian said.
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