43% emissions reduction by 2030
On July 27th, the Australian government introduced a #bill to write the ‘43% emissions reduction by 2030’ target into the law.
The Bill is set to be a historical symbol in Australia’s climate shift coming from a country that has an average per capita #CO2footprint of 17 tonnes – a footprint that is even above the UAE!
This can act as a great launchpad for Australia to cut emissions and grasp the incredible opportunities the country possesses – for example, clean energy exports could be worth $333 billion each year, that’s almost triple the value of Australia’s existing fossil fuel exports.
However, the bold move by regulators is going to enforce critical challenges to every public and private actor in #Australia and its ecosystem. All actors need to:
1. Understand the science behind the bill and impact on their strategy
2. Quantify and map their risks with the regulatory requirements - and the opportunities
3. Build a strategy to reduce their #emissions to comply with the bold target.
AXA Climate supports several actors in the Asia Pacific region. Reach out to Ankush Bhardwaj or Brian Maruncic in our team for more information!