The Economy, Stupid Australia's 2035 Climate Target: Economic Hit or Miss?
Sep 18, 2025
In this discussion, Anna Scarbeck, Chief Executive of ClimateWorks, and Michael Yander, ABC Business Editor, delve into Australia's ambitious 2035 climate target. They debate the balance between political caution and scientific ambition, exploring the economic implications of meeting these goals. The conversation highlights various policy options, including carbon pricing and sector plans, while assessing the urgency of action in light of potential economic risks. Their insights reveal whether this target is a strategic move or a missed opportunity.
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2035 Target And Sector Plans
- The government set a 2035 emissions reduction range of 62–70% below 2005 levels and published six sector plans.
- Achieving that requires halving emissions over the next decade, demanding major economy-wide shifts.
Politics Shapes Target Ambition
- The adopted 62–70% target is politically cautious compared with the Climate Change Authority's 65–75% consultation range.
- Business groups are split: some warn higher targets deter investment while tech firms urge stronger ambition.
Cost Of Procrastinating Emissions Cuts
- Delaying emissions reductions creates a more disorderly and costly transition requiring concentrated investment later.
- Postponement also locks in additional climate damage that cannot be undone quickly.
