Green Party Members Criticize Labor Party’s Climate Targets for Falling Short of Paris Agreement Standards
Anthony Albanese has not outlined his government’s 2035 emissions target ahead of the election, stating that he would do so ‘sometime next year.’
Greens criticized the Australian Labor government for its climate targets, which they claim are inconsistent with the Paris Agreement.
According to Climate Analytics, Australia is the world’s third-largest fossil fuel exporter, following Russia and the United States. The country is also the second-largest exporter of fossil fuel carbon dioxide emissions.
“Emissions are higher under [Prime Minister] Anthony Albanese than Scott Morrison. Labor has approved 28 new coal and gas projects, and now they’re moving away from 2035 targets,” said Greens leader Adam Bandt on Nov. 17.
“With Donald Trump now U.S. President and Peter Dutton promoting nuclear energy here, Labor must stop increasing emissions and align with the UK in advocating for strong action by 2035 to prevent global warming.”
The statement comes after Albanese declined to commit to revealing his government’s 2035 emissions target ahead of the election, stating that it would be disclosed “sometime next year” during an interview with ABC Insider.
Australia At Risk of Halving Iron Ore Export Revenues
This warning follows Climate Energy Finance (CEF) stating on Nov. 15 that Australia could cut its $138 billion iron ore export revenues in half if it fails to transition to green iron. This is crucial as Northeast Asia pursues a clean energy transition, Europe implements a carbon border adjustment mechanism, and global iron ore supply chain restructuring speeds up.
“We require government financial support for initial green iron deployments at commercial scale in Australia to build necessary capacities while collaborating with key Asian trade partners to push for a carbon price in regional trade,” said Tim Buckley, CEF director and report co-author.
Further recommendations include establishing a National Green Iron and Steel Strategy in partnership with state governments and forming cooperative ventures like a Trilateral Clean Commodity Trading Company with South Korea and Japan, as well as an Australasian Green Iron Corporation Joint Venture with regions like China. Introducing production tax incentives for green metal refining is also advised.
“Australia’s advantage in producing low-cost, high-margin, mid-grade unprocessed iron ore is endangered. It is imperative that we act promptly to develop green iron production capabilities utilizing our renewable energy resources,” said Matt Pollard, CEF net zero transformation analyst and lead author.
