The government of Australia announced a new climate target, aiming to reduce greenhouse gas emissions by 62% to 70% by 2035, on a 2005 basis.
With the release of its new target, Australia also unveiled plans for more than $8 billion (USD$5.3 billion) in new climate-related investments, targeting areas including industrial decarbonization, clean electricity, low-carbon fuels and EV charging infrastructure.
The new emissions reduction goal will form Australia’s new Nationally Determined Contribution (NDC) under the Paris Agreement. NDCs are national climate action plans presented by each country under the agreement, and are required to be updated every five years with increasingly higher ambition.
