AUSTRALIA is yet to commit to join other nations in pledging to reach net zero emissions by 2050, but the government appears to be inching closer to setting a target. While not committing to a net zero goal, Australian Prime Minister Scott Morrison admitted in April that Australia's energy mix needed to change over the next 30 years "on the road to net zero emissions". Morrison has shied away from implementing taxes, such as a carbon price, to spur the push to net zero, instead calling for emissions to be reduced through new technology and "the animal spirit of capitalism". Wood Mackenzie Asia Pacific head of markets and transitions, Prakash Sharma, believes Australia can reach net zero emissions before 2050, but says it will require a complete transformation of its traditional energy and export sectors.
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