New NSW 2030 target will boost investment and opportunity: Carbon Market Institute
The NSW government is right to recognize both the urgency and the desirability of stronger and more credible 2030 emissions reduction targets. With the right policies, this can generate jobs and increase investment, especially for regional communities.
New South Wales – and Australia – are full of clean energy and tech opportunities, but we need to give clear investment signals and policies, as well as manage the transition to ensure communities can participate in these opportunities.
The CMI urges the Australian government to follow suit by stepping up its 2030 targets to a 50% reduction as well as a commitment to net zero emissions by 2050.
It may come as a surprise to many, but the political architecture to spur ambition and opportunity awaits government leadership such as that shown by NSW today. The evolution of the safeguard mechanism, which already requires our largest emitters to measure and manage their emissions, as well as some of the support for the evolving technological investment that the government is putting in place, may unlock significant opportunities in all of Australia.
Lines attributable to CMI CEO John Connor
The Carbon Market Institute is the independent industry association for companies leading the transition to net zero emissions. Its more than 100 members include primary producers, carbon project developers, indigenous companies, legal and advisory services, insurers, banks and high emission industries developing decarbonization and offsetting strategies. .
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