- Press Releases
September 30 (Renewables Now) - The Australian state of New South Wales now targets cutting its emissions by 50% compared to 2005 levels by 2030, a step up from a previous target of a 35% emissions cut by that date, the state government announced on Wednesday.
The state has adjusted the objective in line with a projection that shows its emissions are on track to drop by 47%-52% on 2005 by 2030 as a result of initiatives of its Net Zero Plan. The projection came as part of an implementation update of the first stage of the plan covering the 2020-2030 period. New South Wales aims to reach net zero emissions by 2050.
The plan is expected to attract up to AUD 37 billion (USD 26.8bn/EUR 23bn) in private investment in New South Wales and support more than 9,000 jobs. It is also forecast to reduce household electricity bills by AUD 130 per year.
The state’s climate change actions underpinning the plan include its electric vehicle (EV) strategy, Electricity Infrastructure Roadmap, which includes the development of renewable energy zones, the AUD-750-million Net Zero Industry and Innovation Program and the NSW Waste and Sustainable Materials Strategy.
“We can be a renewable energy super power and as global demand for low carbon products and investments grows, the fortunes of the state are increasingly tied to the fortunes of our planet,” said Energy and Environment Minister Matt Kean.
(AUD 1 = USD 0.723/EUR 0.621)