Australian PM promises 'new era' of climate action amid criticism over goals

SYDNEY • Australian Prime Minister Anthony Albanese has promised a "new era" of climate action and energy innovation under his centre-left Labor government, despite criticism from activists and Greens party lawmakers who say his planned cuts to emissions do not go far enough.

Speaking at the Sydney Energy Forum yesterday, Mr Albanese said Australia's current energy infrastructure and policies are inadequate to handle the global fuel crisis sparked by Russia's invasion of Ukraine.

He reiterated his promise to introduce new climate legislation, including targeting 43 per cent cuts by 2030 and reaching net-zero emissions by 2050, when Parliament sits for the first time under his leadership this month.

"This is a new day. It is a new era. We need to act - and we will act," he said.

Mr Albanese took power at an election in May, where Australia's lack of action on climate change was a major issue. While Labor won with a majority in the Lower House of Parliament, Mr Albanese will be held to account by a wave of new lawmakers who were elected after campaigning for tougher action on climate change.

The Australian Greens party and pro-climate action independent David Pocock hold the balance of power in the Senate, leaving the new government highly dependent on them to pass legislation.

The Greens and Mr Pocock have called for emission cuts of at least 60 per cent by 2030. Greens leader Adam Bandt has also called for a moratorium on any new coal or gas mines in Australia.

Minister for Climate Change and Energy Chris Bowen has described the government's 43 per cent emissions target as a floor rather than a "ceiling" for Labor's climate ambitions. However, Mr Albanese has been clear he will not legislate a higher target in his first term of government.

Mr Albanese's target brings Australia in line with nations including Canada, South Korea and Japan, though the plan remains less ambitious than action pledged by the United States, the European Union and Britain.

Australia has already seen the impact of climate change-fuelled natural disasters, including severe flooding in the state of New South Wales over the past month.

Mr Albanese said Australia can become a renewable energy "superpower", describing the coming years as a "once-in-a-generation" opportunity. "Our government's policies are designed to seize that opportunity with the determination and resolve it demands," he said.

BLOOMBERG