Australia has significantly stepped up its clean energy ambitions since the election of the Albanese Government, according to a review of Australia’s energy sector released by the International Energy Agency (IEA).
The IEA’s Australia 2023 Energy Policy Review states, “the Australian Government has stepped up its climate ambition at the federal level” and highlights the legislated 2030 target and net zero by 2050 as important steps that are compatible with the Paris Agreement.
The review states that Australia’s leadership is crucial for the global energy transformation and
welcomes policy initiatives like the National Energy Transformation Partnership, Rewiring the Nation, Capacity Investment Scheme, the National Energy Performance Strategy and Safeguard Mechanism reforms.
It also identifies action in hydrogen, critical minerals and resilient supply chains as crucial for building energy security and accelerating the clean energy transformation, especially in the Asia Pacific.
The Coalition was in government for almost a decade and saw 4 gigawatts of dispatchable energy leave the system and only 1 gigawatt come on. That’s why the Albanese Government is getting on with the job and transforming Australia’s energy market for the 21st century. But after 10 years of denial and delay, there is much more work to be done.
There are recommendations to improve energy efficiency and increase investment in emerging clean energy industries. The report also recommends an updated net zero by 2050 plan to guide implementation and a national energy and climate information system to track progress towards reaching our targets.
Minister for Climate Change and Energy Chris Bowen said the IEA report clearly showed the government’s policies had placed Australia on the right track to enable a clean energy future.
“This new report is an endorsement of the strong action the Albanese Government has taken on climate change and energy to achieve 82% renewable electricity by 2030,” Minister Bowen said.
“I welcome the IEA’s recommendations to strengthen Australia’s policies to achieve net zero by 2050 and I’m pleased we are already making significant progress against many of those recommendations.
“Our National Electric Vehicle Strategy, National Energy Productivity Strategy, and National Building Code reforms will all play a vital role in helping Australia achieve strong climate and energy ambitions.”
Australia 2023 Energy Policy Review is part of the IEA’s 5 yearly in-depth peer reviews of its member countries’ energy policies. The last IEA review of Australia was in 2018 under the former government.
The 2022 report can be viewed on the IEA website at https://www.iea.org/reports/australia-2023
