celebration although the government has refused to enshrine the pledge in legislation. In fact, the government has explicitly noted in its plans to achieve the net zero commitment that they would focus on net zero and not absolute zero emissions. What does this mean? Under the global initiative to become carbon neutral by mid-century, countries are not required to end the consumption of coal or other fossil fuels, instead, they are required to fund ways to capture those greenhouse gas emissions so that they do not continue to increase global warming.
As a major coal producer and exporter in the world, PM Morrison was quick to inform that his government does not intend to introduce any carbon tariff or any other form of disincentive on fossil fuel production. Alternatively, Canberra homes to reach the net zero goal by using existing and emerging technologies, which is expected to enable the country to achieve 85 per cent of the new target.
Accordingly, more than $20 billion is will be invested until the end of this on the development of such technologies, giving priority to ultra-low-cost solar, clean hydrogen, storage of renewable energy and carbon capture and storage, although some of them still remain largely unproven. Moreover, the government did not clarify how it intends to achieve the remaining 15 per cent of the goal, claiming that they will be tackled by “further technology breakthroughs”.
“That 15 per cent will come from the evolution and momentum that is generated by those earlier technological developments,” the Prime Minister said. “It is probably one of the safest assumptions that you can make.”
