Target on track. But the truth about transition costs is not out there

Australia is making progress towards meeting its international climate commitments. New data released by Climate Change and Energy Minster Chris Bowen on Wednesday suggests the nation is on track to hit its legislated interim emissions target and reduce its carbon pollution by 42.6 per cent by 2030.

Australia’s energy transition will be a costly and complicated process which is to be expected with any major structural change to the economy. Nevertheless, it’s a welcome sign that the political system can still achieve positive outcomes despite the damage done by two decades of climate wars. It also shows that climate action is still possible after the underwhelming United Nation’s COP29 climate conference in Azerbaijan made little headway galvanising global efforts to reach net zero by 2050.