Green hydrogen is set to play a major role in Australia’s energy sector following the passing of its Climate Change Bill which sets a 43% emissions reduction target by 2030.
Alongside the 2030 target, set against 2005 levels, Australia will aim to be net zero by 2050.
The bill will see annual statements in relation to targets, embed the targets in the objectives and functions of relevant Commonwealth agencies, and empower the Climate Change Authority to provide advice to the Minister in relation to future targets. Legislation would be reviewed every five years.
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