We are not on track, unless we make changes. That’s the focus of our paper on NSW net zero emissions targets.
NSW has ambitious climate targets, but we face major challenges in meeting them. The state is projected to miss our legislated targets - not only for 2050 but also for 2030 and 2035.
Our series will outline potential policies and solutions that can drive this change to ensure we can reach our targets while keeping productivity and living standards high.
To achieve our targets in an efficient, fair, and timely way, we found that:
- Rapidly decarbonising electricity generation is crucial for enabling other sectors to electrify and reduce their own emissions.
- All four remaining NSW coal generators are scheduled to close by 2040, requiring careful coordination of: renewables, firming capacity, and transmission infrastructure.
- Smart technology and pricing reforms will be essential for helping to contain system costs during the transition.
Our research highlights the importance of: cost-reflective pricing, accelerated smart meter rollout, and virtual power plants to help manage peak demand and grid stability. This will also mean bill savings for households and businesses.
We know we face challenges in this transition. We will need significant capital investment and skilled workers to deliver these targets. But the construction sector is already experiencing severe labour shortages from record infrastructure investment and housing development.
Meeting these targets while maintaining living standards requires careful coordination of policy, investment, and technology deployment.
Achieving net zero is not only a climate goal but also a fundamental part of ensuring NSW’s long-term productivity. And it’s not a can we can afford to kick down the road. If we get this right, we can unlock new opportunities for: innovation, investment, and high-quality jobs, resulting in a stronger economy and better quality of life for everyone. Visit our website to find out more.
