Australia's long-term Emission Reduction Plan: A whole-of-economy Plan to achieve net zero emissions by 2050.

Australia’s whole-of-economy Long-Term Emissions Reduction Plan (the Plan) sets out how Australia will achieve net zero emissions by 2050. The Plan is based on five key principles, with an enabling role for government. These principles are: 1) Technology not taxes – no new costs for households or businesses; 2) Expand choices, not mandates – we will work to expand consumer choice, both domestically and with our trading partners; 3) Drive down the cost of a range of new energy technologies – bringing a portfolio of technologies to parity is the objective of Australia’s Technology Investment Roadmap; 4) Keep energy prices down with affordable and reliable power – the Plan will consolidate Australian advantage in affordable and reliable energy, protecting competitiveness of industries and jobs; 5) Be accountable for progress – transparency is essential to converting ambition into achievement.
Part 2 of the document outlines the Plan. The Plan's objectives and actions can be summarised as follow: 1) Driving down the costs of low emissions technologies, in particular Australia aims at unlocking growth of priority technologies (clean hydrogen, ultra low-cost solar, energy storage, low emissions steel and aluminium, carbon capture and storage, soil carbon) and emerging technologies, such as livestock feed to reduce methane emissions. 2) Enabling deployment at scale by incentivizing businesses to adopt low emissions technologies, building voluntary carbon markets, helping consumers with information, knowledge sharing and certification, building essential infrastructure, planning to ensure the right infrastructure is in place as sectors decarbonise, aligning efforts with the states and territories through bilateral support agreements. 3) Seizing opportunities in new and traditional markets by expanding markets for minerals & metals that will be needed in low emissions economies, such as copper, nickel and lithium, building a clean hydrogen export industry and shaping global certification standards, exporting low emissions fuels, including LNG and uranium, realising opportunities for low emissions manufacturing and clean energy equipment and services, growing agricultural sector and communities, building workforce by investing in skills and training, continuing to invest in regional communities. 4) Fostering global collaboration by building international partnerships to accelerate innovation and drive investment, engaging through multilateral technology initiatives and establishing a high integrity Indo-Pacific Carbon Offset Scheme.