Getting Australia to Net Zero emissions by 2050 - proposed strategies and actions
The Australian Climate Change Authority (CCA) has released its Sector Pathways Review plan - to achieve net zero emissions by 2050.
Based on the CSIRO's* economic and scientific modelling, the report outlines emissions pathways for six sectors: agriculture and land, built environment, electricity and energy, transport, industry, and waste.
Key points include:
Utilizing Existing Technologies: We should focus on deploying current technologies rather than waiting for breakthroughs.
Broader Transition Goals: The shift to net zero encompasses more than just technology.
Accelerated Deployment:
The report also highlights that, without new policies, Australia could exceed the Paris Agreement limit, leading to a potential global warming of 2.6°C.
Key Findings:
Electricity Sector: Decarbonizing this sector is vital as it accounts for 35% of emissions. Rapid deployment of renewable energy and existing technologies can reduce costs for families and businesses.
Community Engagement: Improved consultation on large infrastructure projects is necessary for public support.
Planning Reforms: Streamlining planning processes across states can expedite approval for new energy infrastructure.
Political Landscape: Conflicting energy policies hinder progress, driven more by ideology than fact.
Nuclear Energy Concerns: Nuclear may not be a timely solution due to long construction times and Australia’s limited experience. By 2035, most coal-fired plants will reach the end of their technical lifespan.
Global Context: Local strategies must align with international efforts to reduce emissions, despite political dynamics.
Collaboration: Engaging all sectors and communities is essential; coordinated efforts are needed to reorganize finance, supply chains, and energy sources.
The report emphasises that not only should we move quickly, but that:
we should be using existing technologies, rather than waiting for new innovations - this is more efficient and effective than waiting on, and hoping for, bigger breakthroughs and advancements to do the necessary work;
the transition to net zero is about much more than just the technologies themselves; and
our best options lie with accelerating the deployment of mature zero and low emissions technologies, hand-in-hand with rapid development and commercialisation of emerging technologies.
The following table from the report summarises the key emissions reduction technologies by sector.
Summary of key emissions reduction technologies by sector
Our progress to date:
While the report shows that we are making good progress on decarbonising our economy, there are plenty of opportunities for us to do more and go faster.
Electricity Sector Focus
The report emphasises that decarbonising our electricity sector is crucial - it now contributes 35% of total emissions, and advocates for the rapid deployment of renewable energy sources. Existing technologies, plus firming at scale*, can also lower electricity costs for families and business.
Community Engagement
There’s a call for better community consultation regarding large infrastructure projects to engage and ensure public support and investment.
Planning Reforms
The report identifies the need to streamline planning processes across different states to facilitate the approval of new energy infrastructure.
Political Landscape
There are conflicting energy policies between the current government & opposition, especially on investing in nuclear energy vs renewables. In many cases, these conflicts are driven by conflicting political ideologies, rather than any serious grounding in either fact or science. We can no longer afford the luxury of that ideological divide!
Nuclear Energy Concerns
The report suggests that nuclear energy may not be a timely solution due to Australia's lack of experience and projected long lead times (15- 20 years) for construction. However, by 2035, 90% of Australia’s coal-fired electricity plants will be coming to the end of their technical life!
Global Context
The strategy is framed within a global effort to reduce carbon emissions. Nevertheless, international political dynamics may impact local ambitions.
Community & Industry Collaboration
We must involve all sectors of the economy and engage with communities. We simply can't depend on each sector moving along its own decarbonisation pathway.
Australia needs actively-managed & coordinated efforts to effect a major reorganisation of public and private finance, multiple supply chains, production systems, industrial zones, energy sources, infrastructure & our workforces.
The most important takeaway?
Perhaps the most important takeaway from the report isn’t simply the need to ramp up effort, investment and coordination within, and across, multiple sectors. The report’s own words say it best:
“The transition to net zero involves much more than each sector moving along technology-based decarbonisation pathways. A zero-carbon mindset must become the new normal so that it permeates operational, policy and investment and purchasing decisions across governments, businesses and households.”
Read the full Sector Pathways Review report here.
Next steps:
If you have questions about the sustainability and energy investments in your super or portfolio, call us for a quick chat or drop us a line.
References:
Climate Change Authority https://www.climatechangeauthority.gov.au
The Conversation: Can we really reach net zero by 2050?
* CSIRO Commonwealth Scientific and Industrial Research Organisation is Australia’s national science agency https://www.csiro.au/en/
** Firming at scale means maintaining the output from an intermittent power source for a required length of time – in other words, making sure enough energy is always available.
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