New South Wales passes groundbreaking climate change legislation
Beyond its environmental impact, this legislation promises stability and certainty for businesses and industries by creating a conducive environment for investment and job creation, especially in the burgeoning renewable energy sector.
In a resounding step forward in fostering a sustainable and resilient future for the people and environment, the New South Wales Government has shepherded the Climate Change (Net Zero Future) Bill through both Houses of Parliament.
At the heart of this bill are ambitious targets for emissions reduction. New South Wales aims to reduce greenhouse gas emissions by 50% by 2030 and further by 70% by 2035, compared to 2005 levels, ultimately reaching Net Zero emissions by 2050.
The Bill also legislates the establishment of an independent Net Zero Commission. Tasked with monitoring, reviewing, and advising on progress toward these targets, this body will ensure accountability and transparency in achieving these critical goals.
The urgency of this legislation is underscored by the visible impacts of climate change, with extreme weather events posing significant risks to health, the environment, and the economy. By enshrining these targets into law, the government aims to mitigate harm, foster resilience, and capitalize on emerging technologies and industries.
This move provides a platform for comprehensive government action, building upon the state's existing 18% reduction in greenhouse gas emissions from 2005 levels. This legislation also offers a framework for incremental enhancements in line with community expectations.
The government's proactive stance is poised to bolster Australian manufacturing in the energy domain while offering energy and investment security to businesses.
The Climate Change (Net Zero Future) Bill will become law following the imminent signing by the NSW Governor.
