Invest
Will Morrison commit to net zero by 2050?
Prime Minister Scott Morrison has yet again played down the impacts of climate change, referring to net zero as an aggressive and frustrating target.
Will Morrison commit to net zero by 2050?
Prime Minister Scott Morrison has yet again played down the impacts of climate change, referring to net zero as an aggressive and frustrating target.
Australia’s PM was grilled in Washington on whether Australia would join the US and other Western peers in pledging to reduce global warming and build resilience to climate change by 2050. But, resolute in his resistance to the pledge, Scott Morrison termed the net zero goal as “aggressive”.
Asked whether Australia had decided to go net zero by 2050, the PM told reporters: “If Australia had made such a decision, I would have announced it.
“Australia has not made a final decision on that matter. I will consider it further when I return to Australia.”
Seemingly diverting the attention away from Australia, Mr Morrison added: “If we want to make a difference on climate change, we’ve got to make a difference everywhere, not just in advanced economies.”
Mr Morrison is due to attend the UN climate summit in Glasgow in November, where he is expected to, in fact, commit to net zero by 2050.
Last year, Mr Morrison received a very cool reception by the UN after it decided to block the PM from speaking at the summit, having deemed his climate change policies too weak.
Following the snub, the PM attended the Pacific Island Forum and used this platform to send a message to the UN — instead of committing to net zero by 2050, Australia would chase its own, unspecified, targets.
But with the federal election just around the corner, the PM is now likely to change his tune, with a recent survey conducted for The Sydney Morning Herald revealing as many as 60 per cent of Aussies support the adoption of a 2050 “net zero” target.
Moreover, just this month, the Reserve Bank of Australia released a report warning that physical and transitional risks stemming from the climate crisis could have a systemic impact on the Australian financial system.
The paper, which outlines preliminary estimates of the possible scale of climate exposure facing Australian banks, the RBA estimated that if left unmanaged, climate change could spell real trouble for the local financial system.
RELATED ARTICLES
About the author
About the author
Economy
Australia's June quarter GDP growth driven by consumer and government spending
Australia's economy has shown unexpected resilience in the June 2025 quarter, with household and government consumption driving growth despite a significant decline in public investmentRead more
Economy
Australia's GDP surprise is real but operators should heed the growth mix warning light
Australia’s June-quarter growth beat expectations on the strength of household consumption and government spending, even as public investment sagged. The upside surprise signals resilience, but the ...Read more
Economy
Households carried the quarter: what Australia’s upside GDP surprise means for strategy now
Australia’s economy expanded faster than expected in the June 2025 quarter, with GDP up 0.6 per cent quarter-on-quarter and 1.8 per cent year-on-year — the strongest pace in two years. The kicker ...Read more
Economy
Inflation dynamics in Australia: Electricity subsidies and labour market in focus
In a recent economic analysis, experts from State Street have highlighted significant developments in Australia's inflation landscape, attributing the changes primarily to the withdrawal of ...Read more
Economy
Australia's economic growth driven by consumer and government spending: A closer look at the June quarter
Australia's economy has delivered a surprising performance for the June 2025 quarter, surpassing expectations with a growth rate of 0.6% quarter-on-quarter and 1.8% year-on-year. This unexpected ...Read more
Economy
Australian and Korean leaders meet to unlock billions in new trade opportunities
In a significant effort to bolster economic ties and explore new avenues for investment, Australian and Korean leaders, alongside business executives and government officials, are gathering in Seoul ...Read more
Economy
Australia’s growth beat is real — but it’s the wrong kind for capacity
Australia’s economy outpaced forecasts in the June quarter as households opened wallets and government spending did the heavy lifting, even as public investment sagged. The signal for boardrooms: ...Read more
Economy
Australia’s growth is back—but it’s the wrong kind of strong
GDP surprised on the upside in the June quarter, powered by households and government outlays even as public investment slumped. The Reserve Bank stayed hawkish, signalling that sticky services ...Read more
Economy
Australia's June quarter GDP growth driven by consumer and government spending
Australia's economy has shown unexpected resilience in the June 2025 quarter, with household and government consumption driving growth despite a significant decline in public investmentRead more
Economy
Australia's GDP surprise is real but operators should heed the growth mix warning light
Australia’s June-quarter growth beat expectations on the strength of household consumption and government spending, even as public investment sagged. The upside surprise signals resilience, but the ...Read more
Economy
Households carried the quarter: what Australia’s upside GDP surprise means for strategy now
Australia’s economy expanded faster than expected in the June 2025 quarter, with GDP up 0.6 per cent quarter-on-quarter and 1.8 per cent year-on-year — the strongest pace in two years. The kicker ...Read more
Economy
Inflation dynamics in Australia: Electricity subsidies and labour market in focus
In a recent economic analysis, experts from State Street have highlighted significant developments in Australia's inflation landscape, attributing the changes primarily to the withdrawal of ...Read more
Economy
Australia's economic growth driven by consumer and government spending: A closer look at the June quarter
Australia's economy has delivered a surprising performance for the June 2025 quarter, surpassing expectations with a growth rate of 0.6% quarter-on-quarter and 1.8% year-on-year. This unexpected ...Read more
Economy
Australian and Korean leaders meet to unlock billions in new trade opportunities
In a significant effort to bolster economic ties and explore new avenues for investment, Australian and Korean leaders, alongside business executives and government officials, are gathering in Seoul ...Read more
Economy
Australia’s growth beat is real — but it’s the wrong kind for capacity
Australia’s economy outpaced forecasts in the June quarter as households opened wallets and government spending did the heavy lifting, even as public investment sagged. The signal for boardrooms: ...Read more
Economy
Australia’s growth is back—but it’s the wrong kind of strong
GDP surprised on the upside in the June quarter, powered by households and government outlays even as public investment slumped. The Reserve Bank stayed hawkish, signalling that sticky services ...Read more
