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NSW bill sets emissions reduction targets

Net Zero roadmap

The New South Wales (NSW) government has introduced a climate change bill, set to enshrine emissions reduction targets law and establish an independent net zero commission.

The Climate Change (Net Zero Future) Bill 2023 commits NSW to cutting greenhouse gas emissions by at least 50 per cent by 2030 and reaching net zero by 2050.

“The people of NSW expect their government to act on climate change and power bills,” Premier Chris Minns said.

“That’s why we’re delivering on our election promises to legislate emissions reduction targets and set up the independent Net Zero Commission.

“Enshrining targets in law shows the NSW Labor Government is serious about reaping the benefits of driving down emissions and moving to more affordable, renewable energy.

“NSW is driving down emissions while putting downward pressure on power bills.”

The local government is legislating emissions reduction targets to provide certainty and opportunity to households, industry and clean energy investors.

The bill commits NSW to making its contribution to reducing greenhouse gas emissions and its contribution to keeping global warming to 1.5 degrees.

“These laws are a down payment on securing the future for the people of NSW. Climate change is already costing NSW through more frequent and more extreme weather events, droughts, floods and other disasters,” Climate Change, Energy and the Environment Penny Sharpe said.

“Legislating 2030 and 2050 targets and creating an independent Net Zero Commission fulfils a commitment to the people of NSW that the government will take action to reduce greenhouse gas emissions and continue the renewable transformation of our energy system.”

The legislated 2030 and 2050 targets are necessary to NSW seizing the economic benefit of the transition to renewable energy, which will attract funding in private investment, put downward pressure on power bills for households and businesses and generate thousands of jobs, most of them in regional areas.

To achieve the targets, the NSW government is already taking strong action by investing $1.8 billion in renewable energy infrastructure, transmission and storage.

The local government is also creating a new stand-alone Department for Climate Change, Energy, Environment and Water, and investing in the circular economy to drive down emissions from waste.

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