A landmark report by Net Zero Australia has modelled what Australia’s pathway to net zero by 2050 might look like. It outlines what we as a nation will need to do to reach net zero, which includes delivering an energy transformation unprecedented in scale and pace; transforming our exports to be an essential contribution to global decarbonisation; and investing in our people and land to reduce impacts and share benefits.
In this Special report, we outline some of the key findings from the report, the steps that will need to be taken to reach net zero, and what this means for investors.
Net Zero Australia, a partnership between the University of Melbourne, University of Queensland, Princeton University, and Nous Group, released its final findings report on 19 April 2023. The report is the culmination of a multi-year study, whose primary objective is to provide rigorous and independent analysis of how Australia might achieve net-zero emissions for the domestic economy by 2050 and export economy by 2060.
Using the same methodology that Princeton University used for the 2020 Net-Zero America study, which ultimately underpinned the Inflation Reduction Act, the independent report models various scenarios of achieving net zero and models the sheer size and scale of what is required to achieve a net-zero future.
"There is no doubt what is required is overwhelming, but the report’s aim was to really paint a picture of what a net zero future looks like on the ground for everyday Australians", said Professor Michael Brear from the University of Melbourne, one of the key contributors to the report.
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