World News – AU – Japan’s net zero by 2050 promises another fossil fuel warning for Australia, analysts say

Morrison government urged to prepare for shift in global economy as major trading partners strive to cut emissions

Japan’s pledge to reduce its greenhouse gas emissions to net zero by 2050 underscores the risk Australia faces if it does not prepare for the inevitable change in the global economy and the falling demand for fossil fuels, analysts say

New Japanese Prime Minister Yoshihide Suga announced the goal in his first political speech to the national parliament since taking office last month He said responding to the climate crisis was no longer a constraint for growth and that proactive measures to change the industrial structure of the country would help develop the economy

Japan is the largest market for Australia’s coal and thermal gas exports, buying over 40% of each Suga’s announcement follows China saying it would achieve ‘carbon neutrality’ at most late in 2060

He did not provide details on how net zero would be achieved, but said he would favor renewables, prioritize security while seeking a bigger role for nuclear power and « would fundamentally change Japan’s long-term dependence on coal power »

Its national energy plan is due for review next year Scientists at Climate Action Tracker previously found that the country’s climate plans, including its short-term commitments over the next decade, were « grossly insufficient »

/ p>

Australian climate analysts said this was further evidence of change underway and that the Morrison government – which has resisted calls to set a mid-century goal and prepare communities for fossil fuels to life after coal – should take note

Howard Bamsey, Australia’s former climate change envoy, said Japan’s pledge shows major trading partners are changing their industrial profiles

“This is another signal to Australia that we need to act together and have a real strategy, not another one of those roadmaps that don’t offer direction,” he said. what matters here is the economic pressure The world is changing and we must be part of this change « 

Erwin Jackson, policy director for the Investors Group on Climate Change, said Japan’s announcement confirmed what « we’ve known for some time » – that the transition to net zero emissions will occur. said the 2050 target was supported by business groups, investors and the community

« The main reason Australia is not prepared for this is the toxic politics around climate change over the past decade, » he said

Jackson said major investors are already « running an aggressive carbon risk rule » on investment decisions, and announcements from East Asia’s largest economies would only accelerate that

Over 60% of Australia’s two-way trade now was with countries demanding net zero emissions by or around mid-century This would rise to over 70% if Joe Biden became President of the States- United, he declared

US leadership on climate crisis depends on next week’s election Biden has pledged $ 2 billion over four years for clean programs and to put the country on a net zero emissions trajectory by 2050 Donald Trump’s victory would lock in his abolition of climate programs and US withdrawal from the Paris agreement for at least four years

Europe, Australia’s other major trading partner, signaled earlier this month that it would increase its climate commitments when the EU parliament backs the target of a 60 reduction % below 1990 levels by 2030, with a view to reaching net zero by mid-century

The Morrison government’s central commitment to the Global Climate Pact is to reduce emissions to at least 26% below 2005 levels by 2030 – less than the recommended 45-60% reduction by scientists A government forecast last year suggested it was not on track to meet its target without using controversial carbon accounting measures

Labor climate spokesperson Mark Butler said Japan’s commitment was « extremely important » and « great news for global action on climate change

« The list of groups that do not support net zero by 2050 is getting smaller and smaller and at the top of the list is Scott Morrison’s government, » he said « It’s up to Scott Morrison to explain why he doesn’t commit to a climate goal that all state and territory governments in Australia, over 73 other countries and now Japan have adopted. »

A spokesman for Emissions Reduction Minister Angus Taylor said government policy was to achieve net zero emissions in the second half of the century They said this was in line with the Paris

Some climate experts disagree on the basis of the agreement also stating that countries will continue efforts to limit global warming to 15C above pre-industrial levels, and that commitments should be informed by the latest scientific data

The Intergovernmental Panel on Climate Change subsequently found, in a report commissioned in Paris, that global emissions were set to be 45% below 2010 levels by 2030 and reach net zero by 2050 to limit warming to 15C He found that heating below 2 ° C would require net zero by 2070, but the impact would be much worse

Taylor’s spokesperson did not directly respond to a question about what Japan’s change might mean for Australian exports, but said technological progress was the only way to meet the Paris targets while maintaining solid economies

They said Australia and Japan are taking practical steps to accelerate new technologies, such as hydrogen “Australia’s ambition is to become a world leader in low emission technology solutions”, they declared

Japan, Yoshihide Suga, carbon neutral