THE "AUSTRALIAN WAY" ON EMISSIONS
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Prime Minister Scott Morrison has unveiled a whole-of-economy plan to achieve net-zero emissions by 2050
KEY ASPECTS OF THE CLIMATE POLICY REVAMP:
* Government is now projecting an emissions cut of 30 to 35 per cent on 2005 levels by 2030, but will stick with the target of 26 to 28 per cent
* Existing technologies will get Australia 85 per cent of the way there, and emerging technologies will close the gap to get to net-zero by 2050
* Main policy levers include investment in technology, incentives and offsets (including soil carbon, land sequestration, carbon capture and storage and offsets from the Indo-Pacific region)
* At least $20 billion will be invested in low-emissions technology by 2030
* Productivity Commission will monitor the socio-economic impact every five years
* Gross national income is expected to be 1.6 per cent higher to 2050
* Government is promising it will not raise the cost of electricity or put industries, regions or jobs at risk.
Australian Associated Press