Labor leader Anthony Albanese said its Powering Australia plan would: create 604,000 jobs, with five out of six new jobs to be created in the regions; spur $76 billion of investment; and cut power bills for families and businesses, by $275 a year for homes by 2025.
He said measures to achieve this included:
- Upgrading the electricity grid to fix energy transmission and drive down power prices.
- Making electric vehicles cheaper with an electric car discount and Australia’s first National Electric Vehicle Strategy.
- Adopting the Business Council of Australia’s recommendation for facilities already covered by the government’s Safeguard Mechanism that emissions be reduced gradually and predictably over time, to support international competitiveness and economic growth.
- Protecting the competitiveness of Emissions Intensive Trade Exposed industries by ensuring they would not face a greater constraint than their competitors.
- Allocating up to $3 billion to invest in green metals (steel, alumina and aluminium); clean energy component manufacturing; hydrogen electrolysers and fuel switching; agricultural methane reduction and waste reduction.
- Providing direct financial support for measures that improve energy efficiency within existing industries and develop new industries in regional Australia through a new fund.
- Rolling out 85 solar banks across Australia to ensure more households could benefit from rooftop solar.
- Installing 400 community batteries across the country.
- Restoring the role of the Climate Change Authority.
However, a number of groups called for more ambitious targets.
The Business Council of Australia called for a target of 46 to 50 per cent and Veterinarians for Climate Action said Labor’s “emissions target is nowhere near the 75 per cent by 2030 that scientists tell us is necessary to prevent the global temperature rising more than 1.5°C”.
Farmers for Climate Action’s Fiona Davis said Labor’s target was an improvement on the current national target, but more vision and action was needed.
“Farmers cannot afford to miss out on the opportunities strong climate policy would deliver to regional Australia,” Ms Davis said.
“We can’t afford to waste this opportunity as the world moves toward a cleaner economy.
“Farmers can benefit from new sources of income, such as carbon credits, even during drought.
“Australia has some of the best renewable resources in the world and regional Australia stands to benefit from jobs, industry and investment.
“This is not a partisan issue ... all parties need to rally behind strong climate policy that will deliver opportunity, industry and prosperity, especially for regions.”
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