The Liberal Party has officially abandoned its net zero by 2050 target, marking a significant shift in Australia's climate policy. Opposition Leader Sussan Ley announced the decision after a party room debate, stating the party will dismantle Labor's climate and energy policies, which she argued are not making energy affordable.
The Liberal Party will also dump Labor's legislated 43 per cent emissions reduction target for 2030, replacing it with a promise to cut emissions year on year. Ley emphasized that net zero would only be pursued if achievable through technology, choice, and voluntary markets, making clear the party is not actively pursuing that goal.
Internal criticism emerged, with Senator Andrew McLachlan questioning the fear of targets, while former Energy Minister Angus Taylor had previously argued net zero would benefit Australians financially. Despite the shift, Ley insisted the party has not turned its back on the Paris Agreement signed by the Turnbull government a decade ago.
The Liberal Party will now negotiate with the Nationals on a united position, with the Liberal plan closely mirroring what the Nationals proposed last week. Nationals Leader David Littleproud welcomed the move as a step forward in engaging the Australian public.
However, details remain unclear, including the extent to which a future Liberal government would use taxpayer funds or underwriting for coal and gas power. Ley offered no clear timeline for when energy costs would decrease, only promising they would be more affordable under a Liberal government.
The decision has triggered concern among investors and business groups wary of renewed uncertainty. Prime Minister Anthony Albanese criticized the Coalition infighting, while Greens Senator Sarah Hanson-Young described the position as anti-science and anti-environment. Independent MP Nick Rowley noted that net zero is a statement of intent shared with major trading partners.
