Australian government to legislate national 43% carbon reduction target

The Australian government has introduced a bill into Parliament that would enshrine a carbon reduction target for Australia, the first legislation of its kind in the country.

The Australian Labor Party won the national election in May 2022 with a platform indicating a 43% reduction in carbon emissions compared to Australian emissions in 2005. 

The election saw a strong swing towards the Australian Greens and other environmentally-focused candidates. 43% was set as a minimum target after heavy negotiations with the Greens.

The Australian Labor Party pre-election platform had also committed to greater climate action in the Pacific region. The Party's platform document committed to creating a Pacific Climate Infrastructure Financing Partnership to support climate-related energy and infrastructure projects in Timor-Leste and the Pacific region.

News article - Investor Daily

Platform - Labor Party