Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for Climate Change and Energy, Minister McAllister. Since the election of the Albanese government, Australia has returned to being a constructive partner in the effort to reduce global emissions by investing in clean, cheap, renewable energy. Could the minister please explain to the chamber what actions the government is taking to seize the economic opportunities afforded by international efforts to reduce climate emissions?

Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Link to this | Hansard source

The international community is moving to act on climate change, and the Albanese government is committed to working with our partners in our region, and in particular in the Pacific, to address climate change through the Paris framework. Australia under the Albanese government has a serious plan, an actual plan, to transform our economy and meet our commitments. On coming to government, we lifted our emissions target by more than half from 26 per cent to 43 per cent by 2030, and, alongside our net zero commitment, we made those targets law. We made them law, because that is what will provide businesses and the community with certainty.

As uncomfortable as it is for those opposite, business welcomes this approach. When we passed the Climate Change Act, the Business Council of Australia said:

Prime Minister Albanese and Minister Bowen have bought Australia a step closer to ending the climate laws that have put a handbrake on progress and become a serious economic barrier.

We've acted on those targets with policies like the safeguard mechanism, our Reliable Renewables plan that is backed in by the Capacity Investment Scheme, new vehicle efficiency standards, Hydrogen Headstart and Future Made in Australia. The November report from the Climate Change Authority, which didn't yet reflect all of those initiatives, showed that 43 per cent by 2030 is within reach. We are now on track for at least 42 per cent emissions reductions by 2030. We take this path because we know that the world's path to net zero is an unprecedented economic opportunity for our country. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Bilyk, first supplementary?

Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

We know that the Albanese government's Reliable Renewables plan is investing in reliable energy sources while supporting Australia's climate targets. Could the minister explain how the government's Reliable Renewables plan is securing Australia's energy needs and ensuring Australians have access to cheap, reliable energy?

Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Link to this | Hansard source

I thank the senator for her question. Anyone serious about energy reliability has a serious plan to replace coal and gas and get more firmed renewables into the grid. Anyone serious about tackling Australia's emissions has a serious plan to get more renewables into the grid, and anyone serious about electricity prices would follow the advice of experts and choose the least cost option, not the highest cost option in thinking about our energy future. We are already halfway to our 82 per cent renewables target in the national electricity market. Renewables have increased by 25 per cent, and we have record investment in batteries and storage. It is an ambitious target. There is more to do, and it's why we're backing it in with an expanded Capacity Investment Scheme. It is not convenient for those opposite, but our Reliable Renewables plan is working, and it is bringing more renewables online. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Bilyk, second supplementary?

Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

It's good to hear how the government is taking action to put downward pressure on prices and reduce emissions at the same time, even if those opposite don't want to hear it. Could the minister explain why it is taking this approach to reducing Australia's emissions?

Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Link to this | Hansard source

Our approach—unusually, it seems—is informed by experts, and we actually listen when they tell us that the optimal path for future investment is solar and wind firmed by batteries and storage and supported by gas. We want to ensure the reliability and affordability of our energy system, and we want to grasp the opportunities of the clean energy transformation. We are not taking the approach of those opposite, who have become very, very quiet. Those are the people who would see Australia backslide on our targets and sit outside of the Paris Agreement with Iran, Libya and Yemen. We certainly won't be taking the approach of waiting decades to build expensive, risky nuclear reactors that experts say will provide just 3.7 per cent of power that Australia needs. We just cannot wait decades for that.