Victoria to set 2035 emissions reduction target

The Victorian government is setting an emissions reduction target for 2035 and is seeking public input as part of the process.

The 2035 target is part of the state’s longer-term path towards net zero, as defined in Victoria’s Climate Change Act 2017. The target for 2020 was to cut emissions by 15–20 per cent below 2005 levels (met two years early); the target for 2025 is to cut emissions by 28–33 per cent; and the target for 2030 is to cut emissions by 45–50 per cent.

A “straight line” from Victoria’s 2030 target to net zero in 2050 would imply a 2035 target in the range of 59–63 per cent. However, other factors will be considered in settling on the exact number.

One of these factors will be how Victoria’s target stacks up compared to other jurisdictions. The consultation paper notes that although most countries have long-term climate goals, most are yet to set a specific target for 2035. The UK is aiming for 78 per cent below 1990 levels (which equates to to 74 per cent below 2005 levels). New Zealand’s Climate Change Commission has recommended a 2035 target that translates to 63 per cent below 2005 levels; however, the government is yet to confirm this.

Other factors include economic, social and environmental opportunities and impacts of reducing emissions.

“Emissions reduction targets provide a clear signal to businesses, households and governments to transform the Victorian economy to reach net zero emissions,” says the government. “This is what the science says is needed to avoid the worst impacts of climate change.

“Strong action on climate change represents a significant economic opportunity. Over 90 per cent of the world’s emissions are covered by a net zero target – including most of Australia’s major trading partners. Net zero is also being increasingly integrated into private sector strategies and decision-making frameworks. Setting targets can help drive Victoria to capture a share of the significant investment, cost savings and other opportunities involved in the global drive to net zero, and to create a growing, thriving low-emissions economy.”

The Minister for Energy, Environment and Climate Change has asked an independent panel of experts to advise on a target for 2035, the best action to reach that target, and what the pathways to net zero emissions by 2050 could look like. The panel will prepare a report with their advice to government by March 1, 2023, informed by this consultation process.

The deadline for public comment is May 22.

For more information and to provide comments, click here.