Australian Climate Change and Energy Minister Chris Bowen announced plans on Tuesday to introduce sector-specific decarbonisation strategies.
The new plans will encompass six sectors of the economy: energy and electricity, industry, the built environment, agriculture and land, transport, and resources.
“The Albanese Government will be working with industry, the climate movement, experts, unions and the community to develop sectoral decarbonisation plans, “he said.
“I’ve listened to, and been struck by, advice from Australian and international investors that government-guided sectoral plans are vital for attracting billions in new investment in decarbonisation in Australia.”
Mr Bowen said the sector plans will feed into the Net Zero 2050 and 2035 targets and he expects to receive the CCA advice in late 2024.
“The level and quality of dialogue and collaboration with industries, experts and citizens will set these plans apart from anything that’s been done before,” he said.
“This is a shared endeavour: we must work together to do what’s both possible and practical to stop dangerous climate change and realise the economic opportunities of net zero.
“The end result will be six net zero sectoral plans that are robust, ambitious but achievable, and accepted by the broader community.”
Property Council Chief Executive Mike Zorbas said Australia must decarbonise the built environment to reach its net zero goals.
“The Australian property sector is at the forefront of global sustainability efforts. We are well positioned to support Australia’s net zero goals as long as the signposts are clear,” Mr Zorbas said.
“The Property Council has long advocated for a sector specific plan to guide that effort and today’s announcement is a welcome one.
“Buildings account for 50 per cent of Australia’s electricity use and 23 per cent of all emissions through their operations.
“The technology already exists today to decarbonise buildings – but we must do this as a priority and at scale.
“The shift to low carbon and resilient buildings needs a clear plan and steady trajectory that encourages market confidence.
“We look forward to working with Ministers Bowen, Husic and McAllister to provide certainty to industry and benefits to communities,” he said.
Earlier this year, the Property Council and Green Building Council of Australia launched the Every Building Counts report, a policy plan for zero-carbon-ready and resilient buildings.
The report laid out 39 comprehensive recommendations. These included a single national rating scheme for home energy performance, establishing a strategy for ensuring Australia has climate resilient buildings, requiring new buildings to be delivered all-electric, the phasing out of fossil fuels in existing buildings and appliances, skilling up the workforce and incentives to support a fair transition for low-income and vulnerable households.