Will net-zero policies have a critical play in the Election?

Highlights

• Australian political parties are increasing their bets on the push to net-zero emissions.
• Both ruling and opposition parties have been including technology development as one of their key agendas.
• The Morrison government will focus on hydrogen and carbon capture and storage (CCS) technology.

Environmental issues like water, air, clean energy and waste management have now become the primary components of election manifestos. Most political parties are now attentive and are including issues in their agendas amid rising environmental concerns with an aim to attain carbon neutrality in coming decades.

Must Read: Five things to expect from pre-election Australia Budget

Australia’s push to net-zero emission

Like other countries, Australian political parties are also pushing towards net-zero emissions.

Despite being criticised for many years, the Australian Labor Party, the main opposition, plans to use the safeguard mechanism to help reach a more ambitious target of 43% emission reductions by 2030.

On the flip side, the Coalition has made commitments to reduce Australia's carbon emissions by 26%-28% by 2030. The primary difference between both parties is that the Australian Labor Party plans to tighten baselines incrementally over the time to help Australia reach net-zero emissions by 2050. The current safeguard mechanism applies only to companies that have more than 100,000 tonnes of carbon emissions a year.

Related article: PM Morrison to attain net-zero emissions by 2050

Technology Development

In addition to curbing carbon emissions, both parties have also been including technology development as one of their key agendas. The Morrison government will focus on energy spending on technology, which will accelerate the development of hydrogen and carbon capture and storage (CCS) if it wins the election.

Source: © Nicoelnino | Megapixl.com

On the other hand, the Labor party is emphasising zero-emission energy that feeds batteries and storage. Both parties are trying to reassure voters that they can manage the decline of fossil fuel generation, ensuring no massive price rise while safeguarding the energy security of the nation.

Also Read: Australia Federal Elections 2022: Will Covid wave see Aussies cast their vote via phone?

Both parties have pledged billions of dollars in investment. However, the focus on spending varies. Furthermore, experts believe the difference will help dictate the pace of Australia’s energy transition.

Bottom Line

Environmental issues have emerged as the key components of election manifestos. Political parties are increasing their bets on the push to net-zero emissions and pledging huge investments in technology development.