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Labor emissions target announcement – Ai Group comment

"The goal of net zero emissions by 2050 is increasingly widely supported by Australian businesses, industry advocates such as Ai Group, the wider community and governments of all complexions. That growing consensus is important to guide and discipline the development of efficient, trade neutral and fair policies to get there," Ai Group Chief Executive, Innes Willox, said today.

"We shouldn't underestimate the challenge of net zero, which goes well beyond generating cleaner electricity. Nor should we get too hung up on economic projections, which are about as reliable as trying in 1990 to estimate the cost and value of smartphones in 2020.

"Innovative technology can get us there and minimise the costs, as long as it is spurred on and scaled up by well-designed investment, regulatory and market policies. A successful transition will preserve international competitiveness and social equity all the way through to 2050 and beyond," Mr Willox said.

Media enquiries: Tony Melville – 0419 190 347