Achieving the transition to net zero in Australia

Alvaro Leandro

No 1794, OECD Economics Department Working Papers from OECD Publishing

Abstract: Australia has committed to achieving net zero greenhouse gas emissions by 2050 and more recently outlined a more ambitious intermediate target for emission reductions by 2030. However, achieving these targets will be challenging given a historical reliance on coal generation and the presence of significant mining and agriculture sectors. It will require a rapid transformation of the electricity grid, significant emissions reductions in highly-polluting sectors such as industry and agriculture, and sufficient offsets generated by “negative emissions” technologies and practices to counterbalance any emissions that cannot be fully eliminated. At the same time, Australia is particularly vulnerable to the physical impacts of climate change, as the driest inhabited continent on the planet with the majority of the population living on the coasts. Further significant reforms are required to meet the emission reduction goals, support the reallocation of workers and adapt to climate change.

Keywords: agriculture; Australia; climate change mitigation; energy; transport (search for similar items in EconPapers)
JEL-codes: H23 Q15 Q18 Q42 Q48 Q58 R48 (search for similar items in EconPapers)
Date: 2024-04-24
New Economics Papers: this item is included in nep-ene and nep-env
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