Business leaders are calling for an end to policy uncertainty on the nation’s path to slashing carbon emissions, with growing fears Australia will be penalised internationally if we don’t catch up on reduction targets.
C-suite executives from some of Australia’s biggest-emitting companies have also thrown their support behind reducing the baselines in the safeguard mechanism, which requires Australia’s largest greenhouse gas emitters to keep their net emissions below a certain limit.
The findings are included in the Carbon Market Institute’s latest Australian Climate Policy Survey of more than 400 businesses, which revealed that 88 per cent of those surveyed want an economy-wide zero net emissions target by 2050.
Businesses also want the government to commit to stronger near-term goals, with 84 per cent of respondents believing the 2030 target should be increased. This is up from 78 per cent just a year ago.