The NSW Government today upgraded its greenhouse gas emissions reduction targets, from 35% to 50% emissions reduction by 2030.
"This morning's announcement that NSW intends to halve its emissions by 2030 is commendable and ambitious,” said Business NSW chief executive Daniel Hunter.
"The Government has outlined its plan to involve the business community more deeply in climate policy over the coming decade, however the detail is still to be decided.
“It is vital that these policies create incentives to reduce emissions without deterring productive business activity, Mr Hunter said.
“The same is true of electricity system reforms, where the intent to achieve a managed transition of our energy of the NSW Government’s Electricity Infrastructure Roadmap needs to be preserved as the detail is worked out.
“If the proposals deliver on promises to lower not just wholesale prices, but the full energy bill for business users, they will be a significant achievement," said Mr Hunter.
Prior to the COVID-19 pandemic, one of the major concerns for business owners as reported in Business NSW’s regular Business Conditions Survey were the rising costs of energy prices, as well as the reliability of supply.
“We will work even more closely with government and the business community to ensure that the necessary transitions in skills, supply chains, infrastructure and investment to meet this new policy target are supported and enabled” Mr Hunter said.
“It is more important than ever that the Commonwealth Government follow suit and increase in its 2030 emissions target before the international climate conference at the end of next month.
"Avoiding a state-by-state approach and achieving a robust Australia-wide solution is the best way to ensure the most efficient and effective action to tackle climate change," said Mr Hunter.