Oil and Gas News

NSW new 2030 emissions targets


The New South Wales (NSW) Government has committed to an ambitious new emissions reductions target, stating it is set to halve emissions by 2030. 

This revised figure is a steep increase on the government’s previous goal to reduce emissions by 35 per cent.

According the updated projections and objectives released under the Net Zero: Stage 1 Implementation Update, the state is set to attract more than $37 billion in investment while slashing emissions by 50 per cent below 2005 levels by 2030. 

Premier Gladys Berejiklian said the state’s new objective shows NSW is serious about setting itself up for a zero emissions future. 

“Our Net Zero Plan is expected to attract more than $37 billion in private sector investment into NSW, support more than 9,000 jobs, save households about $130 on their electricity bills and help NSW become Australia’s first trillion-dollar state by 2030,” Berejiklian said.

“This is about putting the policies in place to give industry and investors certainty, not only to protect our planet but to future-proof our prosperity and way of life.”

Energy and Environment Minister Matt Kean said NSW was one of the first jurisdictions to commit to net zero emissions by 2050. 

“We can be a renewable energy super power and as global demand for low carbon products and investments grows, the fortunes of the state are increasingly tied to the fortunes of our planet,” Kean said.

The Victorian Government had already set an interim target of 45 – 50 per cent reduced levels from 2005 to the end of 2030. 

The Net Zero Plan: Stage 1 Implementation Update sets out the NSW Government’s action on climate change, including the Government’s commitment to disclose the state’s climate related financial risks and opportunities for the first time. 

Subscribe to Oil & Gas Today for the latest industry news.