The Albanese government has unveiled Australia’s new climate target for 2035: a 62–70 percent reduction in emissions from 2005 levels, a range intended to bridge business concerns about feasibility and calls from environmentalists for stronger goals. Prime Minister Anthony Albanese described it as a “reasonable target supported by science,” emphasizing that it is calibrated to protect the environment while sustaining economic growth and jobs.

To deliver on the target, the government is rolling out more than AUD$8 billion in measures, including:

– A AUD$5 billion Net Zero Fund to help industries decarbonize and scale low-emissions production
– AUD$2 billion for the Clean Energy Finance Corporation to ease pressure on electricity pricing
– AUD$1.1 billion for clean fuel production
– Funds for EV charging infrastructure, energy-efficiency upgrades, and support to households, businesses, and sports clubs

Treasury modelling backs the government’s approach, warning that a “disorderly transition” scenario—where strong targets are delayed—would yield worse economic outcomes than a well-planned path to net zero.

Australia’s new target is meant to align with major peers. At the announcement press conference, Albanese noted that the European Union is considering targets between 63 percent and 70 percent as part of its updated climate commitment. The EU already has a binding goal of cutting emissions by 55 percent by 2030 (relative to 1990 levels), under its “Fit for 55” plan.

Despite drawing favorable comparisons, critics argue that Australia’s target falls short of what is required to keep warming to 1.5 °C. Analysts at Climate Analytics, for example, have called for emissions reductions of up to 81 percent by 2035 to align with 1.5 °C trajectories. Others counter that structural constraints and the cost of rapidly shifting industries justify a more moderate but credible target.

Australia’s approach highlights a tension common among advanced economies: how to close the gap between political feasibility and the urgency of climate science. The coming years will reveal whether the country’s implementation can live up to this middle path—or whether global comparisons will continue to put its climate ambition under pressure.

Learn more at Australian Geographic.