Today’s signing of Australia’s new Nationally Determined Contribution (NDC) is a significant step forward for our country’s emissions reduction journey.
Clean Energy Council Chief Executive, Kane Thornton said that Australia’s new 43 per cent emissions reduction target for 2030 not only gives the green light to renewable energy investors but also sets about righting an embarrassing chapter for the country on the world stage.
“Today’s formal agreement provides clarity and a positive investment signal to accelerate the decarbonisation of Australia and take advantage of the enormous economic opportunity in play,” he said.
“The Clean Energy Council’s last edition of the Clean Energy Outlook – Confidence Index revealed that 79 per cent of investors said an improved 2030 emissions reduction target would increase their confidence for future investment.
“The current crisis in the National Electricity Market has clearly illustrated the perils of dragging our feet on energy policy,” said Thornton. “Our aging coal-fired power fleet and transmission network is not fit for purpose and are now failing Australian businesses and households.
“A 21st-century economy needs a modern electricity network that supports reliability, security and lower emissions technologies, and delivers low-cost energy to consumers. Today gets us closer to that goal.”