The ACT’s policies on renewable energy make it Australia’s and one of the world’s leaders in dealing with greenhouse gases, according to Minister for Climate Change and Sustainability, Shane Rattenbury.
Mr Rattenbury said the Territory had set a target to achieve zero net greenhouse gas emissions by 2045 — bringing forward the previous target of 2050 by five years.
“Our new target of achieving zero net emissions by 2045 will lead the nation, and stands among the world’s most progressive jurisdictions in our commitment to delivering real climate action,” Mr Rattenbury said.
“In the coming months, I will be introducing legislation into the ACT Legislative Assembly to formalise both interim and final targets to get us to zero net emissions by 2045.”
He said expert economic modelling had been commissioned to examine the costs of meeting the new emission reduction targets, and covered the period to 2030 for which the interim target was 65–75 per cent below 1990 levels.
“It shows we can meet the 65 per cent target at a cost of about $32 per tonne of abatement, which equates to about $5.8 million in 2030,” Mr Rattenbury said.
He said this was reasonable and achievable.
“However, it’s important to note that the modelling shows that our emission reduction plan could even be cost-neutral because of the cost savings and co-benefits that emission reduction policies achieve,” Mr Rattenbury said.
He said the interim targets were being set to send a clear signal to industry and business so they could plan their investments accordingly and capitalise on the opportunities that being a leader and early adopter provided.
Mr Rattenbury said the Government had taken the advice of the ACT Climate Change Council, which considered the level of emission reduction targets required to meet the goals of the Paris Agreement on Climate Change, as well as the latest technological and economic developments.
“The new targets have been set following extensive consultation with the Canberra community over recent months as part of developing the ACT’s next climate strategy,” the Minister said.
