Nine years ago this month, the Turnbull government secured the parliamentary ratification of the Paris Agreement, reaffirming “Australia’s strong commitment to effective global action on climate change”. Almost five years later to the day, the Morrison government committed the country to reaching net zero greenhouse gas emissions by 2050.

The Coalition of Nationals and Liberals are now debating whether to ditch their own policies. For the Nationals, they have decided to drop net zero support, a move at odds with Australia’s Paris commitment, and one that would run counter to the goal Labor legislated into law in 2022. The Liberals may well follow suit.

Sussan Ley and David Littleproud are at odds over the Coalition’s climate policy.Credit: Marija Ercegovac

The Climate Change Authority cautions against abandoning 2050 as the target time for reaching carbon neutrality. Having a firm goal that catalyses and co-ordinates action by communities, businesses and governments – at home and abroad – will deliver a lower-cost decarbonisation of our economies than mere “aspirations” to act.

Backing for “decisive action now” to deliver net zero emissions carbon neutrality by mid-century includes all the peak business organisations – the AiGroup, the Australian Chamber of Commerce and Industry, and the Business Council of Australia.

These groups all understand that kicking net zero to the never-never will raise the cost of transition. When investors see a lack of bipartisanship on a major policy area, they slap on a premium for uncertainty that feeds into the entire supply chain.

They also recognise that a departure from the Paris Agreement on the 2050 goal would open the way for the dilution of other decarbonisation efforts. Proponents of such a move are, after all, unlikely to stop at dismantling the arch of climate action after removing its keystone.

Australian voters have endorsed climate action in the four elections........

© The Sydney Morning Herald