Prime minister Scott Morrison and federal minister for industry, energy and emissions reduction Angus Taylor yesterday released a "Long Term Emissions Reduction Plan", just days ahead of the United Nations' COP26 climate change summit starting in Glasgow.
"Australia now has a target to achieve net zero emissions by 2050, and we have a clear plan for achieving it," Morrison said.
The announcement followed behind the scenes politicking with the Liberal government's coalition partner, the Nationals party.
Taylor said the plan was based on "technology, not taxes" and would not shut down coal or gas production.
The plan has been widely criticised for its lack of detail and not offering a higher target for emissions cuts by 2030, with the Climate Council describing the announcement "half baked".
However the Minerals Council of Australia (MCA) said the government's commitment of net zero emission targets by 2050 would ensure national climate policy stability and certainty over the medium to long term for the mining sector and its customers.
"The Australian minerals industry supports an ambition of net zero emissions by 2050," the council said.
Globally, all 28 members of the International Council of Mining and Metals signed an open letter pledging net zero on scope one and two emissions by 2050 earlier this month.
MCA CEO Tania Constable said Australian mining companies were taking action now and investing in activities to drive down emissions and in turn, sustain jobs and the communities they operated in.
"The MCA's Climate Action Plan focuses both on developing the technologies that will be needed to drive down emissions in our sector, and developing the minerals and resources needed for the low emissions technologies Australia and its trading partners require," she said.
"The MCA looks forward to a productive COP26 Conference as the world continues to strive for constructive climate action to reduce emissions while enabling on-going economic development and prosperity."
Constable also noted the role of high quality and verified offsets was important in achieving a net zero future.
