Investor Group on Climate Change says clear price on carbon needed and removal of all fossil fuel subsidies by 2050
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Australia needs an ambitious 75% emissions reduction target by 2035, a clear price on carbon, and to remove all fossil fuel subsidies by 2025 in order to unlock the investment needed to reach net zero by 2050, according to a new report.
The Investor Group on Climate Change has released its policy priorities report for 2022-2025, outlining key areas for reform that would align Australia’s emissions target to the Paris goal of limiting warming to 1.5C and ensure the country was able to manage an “orderly” retreat from coal.