The Victorian Government has set one of the most ambitious emissions reduction objectives in the world, aiming to reduce the State’s emissions by 75-80% by 2035.
Minister for Climate Action Lily D’Ambrosio has formalised the objective under the Climate Change Act 2017.
“Victoria is continuing to lead the way on climate action in Australia with our target to reduce emissions by 75-80 per cent by 3035 and net-zero by 2045,” Minister D’Ambrosio said.
According to the State Government, the target builds on its track record of achievement, with Victoria’s emissions already reduced by 32.3% below 2005 levels.
“Victoria has cut emissions by more than any other state since 2014 and we’re laying the foundation for more long-lasting change with significant investments in renewable energy such as bringing back the SEC,” Minister D’Ambrosio stated.
Since 2014, the Government claimed that Victoria has decarbonised faster than any other State. The Victorian Government is providing zero-emissions transport, helping farmers reduce emissions, storing carbon in the landscape, and reducing waste sector emissions through the circular economy.
The State is also working to ensure that all government operations are powered entirely by renewable energy by 2025.
These new objectives will guarantee that Victoria seizes the great economic potential that climate change action presents, delivering $63 billion in economic gain and assisting in the creation of thousands of jobs.
The re-establishment of the State Electricity Commission (SEC) will be a significant driver in cutting emissions and lowering power prices by investing $1 billion in new renewable, government-owned energy. This investment will generate 4.5 gigatonnes of renewable energy, which is equal to Loy Yang A.
“Victoria’s ambitious and achievable 2035 emissions reduction target takes into account the advice of the Independent Expert Panel and ensures Victoria remains aligned with the Paris Agreement goals, while accelerating clean investment in Victoria’s economy,” Independent Expert Panel Chair Matijn Wilder AM said.
Victoria’s objectives of 95% renewable energy output by 2035, 6.3 GW of renewable energy storage by 2035, and offshore wind energy targets will also allow the State to accomplish this historic transformation.
Later this year, the State Government will legislate the emissions reduction targets of 75-80% by 2035 and net zero emissions by 2045.
