Sydney. Australia has set an ambitious target of reducing its greenhouse gas emissions by 62 per cent to 70 per cent below 2005 levels.

This is in line with a commitment to cut emissions by 43 percent by 2030 and achieve net-zero emissions by 2050.

Prime Minister Anthony Albanese has said his government will present the new plan at the UN General Assembly. He called it a “responsible goal backed by science, based on practical planning and built on proven technology”. According to him, this step will be in the interest of the environment, economy, jobs and future generations.

Albanese said the targets were in line with those of the European Union. The EU is considering a reduction target of 63 percent to 70 percent from 1990 levels. Matt Keane, chairman of the Climate Change Authority, said Australia’s targets were “higher ambitions than many advanced economies”.

However, there has been a mixed response. Environmental groups have called for cuts of more than 70 percent. However, trade bodies have warned that this could put billions of dollars worth of exports at risk. Australian Chamber of Commerce and Industry chief Andrew McKellar said it was “ambitious” but energy costs, security and affordability were the key challenges.

The conservative opposition Liberal Party has called the 2035 target “hypothetical”, saying the government will fail to meet the 2030 target. Opposition leader Susan Leigh said Australians were disappointed in the prime minister’s remarks.

Greens leader Senator Larissa Waters said the actual cut would be just 62 per cent, calling it “appallingly low”. He accused the government of being silent on the export of coal and liquefied gas. Coal and liquefied gas are one of the world’s largest fossil fuel suppliers.

The government says Australia is well on track to achieving the 2030 target, which is “practically feasible”.