The NSW government has committed to halving emissions by 2030. This is under updated projections and objectives released today as part of the ‘Net Zero Plan: Stage 1 Implementation Update’.
Premier Gladys Berejiklian says the state’s new objective of halving emissions by 2030 – up from 35% below 2005 levels by 2030 – shows that NSW is serious about setting itself up for the future while helping the world decarbonise.
“Our net zero plan is expected to attract more than $37 billion in private sector investment into NSW, support more than 9,000 jobs, save households about $130 on their electricity bills and help NSW become Australia’s first trillion-dollar state by 2030,” she says.
“This is about putting the policies in place to give industry and investors certainty, not only to protect our planet but to future-proof our prosperity and way of life.”
Deputy Premier John Barilaro says regional communities will reap the rewards of the new industries set to emerge over the coming decades.
“Whether it is in modern manufacturing, minerals or agriculture, regional NSW is home to the skills, infrastructure and resources needed as the demand for low emissions technologies like batteries and hydrogen grows,” he says.
“The entire state will benefit from the economic and employment opportunities in low carbon technologies, and we will continue to take action in a way that delivers more jobs and more investment for people in the city and in the bush.”
‘Renewable energy super power’
Energy and Environment Minister Matt Kean adds that NSW is one of the first jurisdictions to commit to net zero emissions by 2050 and are now on track to double its economy and halve its emissions by 2030.
“We can be a renewable energy super power and as global demand for low carbon products and investments grows, the fortunes of the state are increasingly tied to the fortunes of our planet,” he says.
“In NSW, we also aren’t just setting targets. As a result of our policies, the state’s emissions are projected to fall by 47-52% on 2005 levels by 2030 under independently peer reviewed modelling.”
About the net zero plan
‘The Net Zero Plan: Stage 1 Implementation Update’ sets out the NSW government’s action on climate change, including the state’s “nation-leading” EV strategy, electricity infrastructure roadmap, the $750 million Net Zero Industry and Innovation Program and the NSW Waste and Sustainable Materials Strategy.
The Implementation Update also outlines the government’s commitment to disclose the state’s climate related financial risks and opportunities for the first time in NSW.