The treasurer admits that Australia is on track to fall short of its climate targets without more money invested, quicker construction of renewables projects, and better regulation.
An emergency warning is in place for a fire burning at Junma Dam and All Nations Mine near Irvinebank in QLD.Federal Treasurer Jim Chalmers has acknowledged Australia is behind in efforts to meet climate targets, signalling a need for more public and private investment to catch up.The federal treasurer has acknowledged Australia is behind on its renewables targets
But analysts have repeatedly cast doubt on the country's path to that 82 per cent renewable target, arguing it's likely to be And with an eye to next year's budget, he made clear more money — from the public purse, and from the private sector — was going to have to be at least part of the equation. "It's important for me to acknowledge that without more decisive action, across all levels of government, working with investors, industry and communities, the energy transition could fall short of what the country needs," he said.
Some experts are warning Australia's ambitions to have zero carbon emissions by 2050 need to be scaled up dramatically.Asked about how community tensions around the energy transition can be eased, Mr Chalmers said the benefits need to be better sold."Major elements of what we're trying to do are less contested than they have been in the past, and that's very helpful," he said.
"The dollars are important but they're not the whole story — we need to have the technological base, the research base, we need to have the regulation right."
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