Australia’s Prime Minister Anthony Albanese has unveiled a new mid-term emissions reduction target: a 62–70% cut by 2035. The move, presented as a “responsible, science-backed” step ahead of the United Nations General Assembly in New York, has drawn sharp criticism from business leaders, climate activists, and the opposition.
Albanese warned that failing to act would harm jobs, growth, and wages: “It is in Australia’s national interest to have an orderly transition to clean energy.” Energy Minister Chris Bowen added, “The target has to be ambitious and achievable—both, not either/or.”
Mining billionaire Andrew Forrest called the goal unambitious: “This is progress, but not bold enough. Australia can and should lead the green industrial revolution.” Greens leader Larissa Waters branded it “a sell-out to coal and gas corporations” and said science demands net zero by 2035 or at least a 75% cut.
Treasurer Jim Chalmers said Treasury modelling shows the shift could make Australians $36,000 richer per capita by 2050 and create 5.1 million jobs. But welfare group ACOSS labelled the target “a failure of leadership,” warning vulnerable communities will bear the brunt of escalating climate risks.
Energy price experts have challenged the government’s claim that renewables will save households up to $1,000 per year on power bills by 2035. Bruce Mountain and Danny Price described the forecast as “a bald-faced lie,” saying taxpayers, not energy companies, will shoulder the enormous cost of new infrastructure.
The opposition is divided: senior Liberal Andrew Hastie threatened to quit if the party backs net zero by 2050, while Sussan Ley questioned Labor’s credibility and warned about high costs. Internationally, Australia’s target is higher than Canada’s and New Zealand’s but lags behind the UK’s 81% reduction goal. The announcement follows a grim National Climate Risk Assessment warning of deadlier heatwaves, floods, and bushfires if warming exceeds 1.5°C.
