In a speech that was plagued by technical difficulties ("Mr Prime Minister I'm not sure we are hearing you”) the PM refused to bow to the US pressure and announce any further increase in our greenhouse gas emissions reduction targets.
Instead, Scott Morrison announced investments of $275m in regional hydrogen hubs and $263.7m for carbon capture and storage projects (CCSP). Through this announcement, he plans for Australia to aim to get to net-zero “as soon as we possibly can” but via technological development that will enable and transform industries, with the aspiration for Australia to be “the cheapest green hydrogen (producer) in the world”.
Australia has still not committed to achieving net-zero emissions by 2050. Currently, more than 100 nations around the world including the US, UK, Canada, New Zealand, Japan and Korea have committed to net-zero, and all eyes will be on Australia to commit prior to COP26, which is being held November this year in Glasgow.