The peak body for energy retailers and generators, the Australian Energy Council, welcomes the Federal Government's proposal to update Australia's Net Zero 2050 Plan and develop sectoral pathways to reducing emissions.
The AEC's Chief Executive, Sarah McNamara, said the AEC wholeheartedly supports the Government's commitment to net zero emissions by 2050 and the need for contributions across sectors of the economy.
"Achieving a 43 per cent emission reduction target by 2030 will necessitate sectors in addition to electricity to begin to decarbonise. This will require the exploitation of all decarbonising opportunities and technologies. We know that as emissions get closer to net zero, abatement will only become more challenging and more costly, so updating Australia's Net Zero 2050 Plan now is timely.
"Determining sectoral pathways for key emitters in the economy is critical to the delivery of Net Zero by 2050. The electricity sector continues to lead Australia's decarbonisation efforts, having already decreased its emissions by 26.9 per cent per cent since their peak in 2009.
"Most of the decline in emissions to 2030 is already projected to come from the electricity sector, when its emissions are expected to be 60 per cent lower than the 2005 baseline.
"The electricity sector looks forward to supporting the Government and other industries to develop effective and efficient approaches that will enable net zero goals to be achieved at least cost," said Ms McNamara.
