The Prime Minister has today announced Australia’s 2035 emissions target and updated Nationally Determined Contribution (NDC). In line with our earlier analysis, a target range has been set at 62 to 70 per cent on 2005 levels by 2035, at the lower end of the Climate Change Authority’s initial recommendation of between 65–75%.
In this update, we provide immediate reaction on the government’s announcement, and discuss expected market implications.
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