The Climate Change (Net Zero Future) Bill 2023 requires New South Wales to reduce greenhouse gas emissions by at least 50% by 2030 and reach net zero by 2050.
The NSW Government is legislating emissions reduction targets to provide certainty and opportunity for households, industry and investors in clean energy as we take tough climate action.
The bill requires New South Wales to make its contribution to reducing greenhouse gas emissions and its contribution to keeping global warming at 1.5 degrees.
The 2030 and 2050 legislative targets are essential for NSW to capture the enormous economic benefit of the transition to renewable energy, which will attract tens of billions of dollars in private investment, put downward pressure on the energy bills of households and businesses and generate thousands of renewable energy. Jobs, most of which are in regional areas.
To achieve the goals, the NSW Government is already taking strong action by investing $1.8 billion in renewable energy, transmission and storage infrastructure through the Transmission Acceleration Facility and the Energy Security Foundation.
The NSW Government is also creating a new stand-alone Department of Climate Change, Energy, Environment and Water, and investing in the circular economy to reduce emissions from waste.
In addition to setting robust emissions reduction targets, the Climate Change (Net Zero Future) Bill 2023 will:
- Establish a Net Zero Committee – a strong, independent expert body to monitor the country’s progress towards net zero. It will submit an annual report to ensure transparency and parliamentary accountability
- Establishing guidelines for action to address climate change
- Setting a goal to make NSW more resilient in the face of our changing climate.
The NSW Government and Net Zero Commission will liaise with the state’s diverse regions and communities to ensure climate action is community-led, informed, fair and transparent.
Quote attributed to Prime Minister Chris Means:
“The people of NSW expect their government to act on climate change and electricity bills.
“That’s why we’re delivering on our election promises to legislate emissions reduction targets and establish an independent Net Zero Commission.
“Including the targets into law shows the NSW Government is serious about reaping the benefits of reducing emissions and transitioning to affordable, renewable energy.
“NSW is cutting emissions while putting downward pressure on electricity bills.”
Quote attributed to Minister for Climate Change, Energy and Environment Penny Sharp:
“These laws represent a down payment on securing the future of the people of NSW. Climate change is already costing NSW through more frequent and extreme weather events, droughts, floods and other disasters.
“Legislating the 2030 and 2050 targets and establishing the independent Net Zero Commission delivers on our commitment to the people of NSW that the government will take action to reduce greenhouse gas emissions and continue the renewable transformation of our energy system.”