NSW to cut emissions in half by 2030 with new climate action plan
The New South Wales government has set an ambitious target of a 50% reduction in emissions from 2005 levels by the year 2030, aiming to attract over $37 billion in clean energy investment throughout the state.
The state has also backed a net-zero target for 2050, with the 2030 goals a stepping stone towards that greater goal. In a statement, State Premier Gladys Berejiklian said that the new net-zero plan will “help New South Wales become Australia’s first trillion-dollar state by 2030.”
Previously, the state had committed to a 35% reduction in emissions prior to 2030, but the increased target comes as part of a plan for NSW to become a “renewable energy superpower,” according to New South Wales Environment and Energy Minister, Matt Kean.
Berejiklian said the new target would support economic growth, create jobs, reduce costs and assist the environment. A statement from Berejiklian also highlighted the changes would see customers save around $130 a year on their energy bills.
The NSW target is a big increase from the federal target of a 26-28% reduction in emissions by 2030, while Australia has yet to commit to achieving net-zero emissions by 2050 even though each state and territory has.
South Australia similarly has a 50% emission reduction target for 2030, while the Australian Capital Territory has set a 65% reduction goal. Tasmania has led the way for Australia, already achieving net-zero emissions.
Modelling released by the NSW government today shows that the state is on track to achieve a 47-52% cut in emissions, largely thanks to an increase in wind and solar farms replacing coal burning for power generation.
The state hopes to attract $37 billion in infrastructure investment in the green power industry through the creation of dedicated renewable energy zones. The state government has also committed more than $490 million to support the rollout of new electric vehicle infrastructure as it continues to support the clean energy transition.
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