Australia tackles 2050 net zero emissions target

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In a bid to meet its target of zero emissions by 2050, Australia has come up with decarbonizing actions ranging from adopting electric vehicles to developing ethanol facilities to support the chemical industry, encouraging renewable refineries for the growth of biofuels. Furthermore, the country plans to increase its carbon capture and storage projects and develop low carbon hydrogen markets across all industries, says GlobalData, a leading data and analytics company.

On the power side, Australia is to expect a gradual increase in both renewable energy capacity and generation, specifically solar and wind energy, shaping a low carbon power scenario for 2050. For example, in 2020, power capacity was dominated by thermal power with over 40% share with coal thermal power dominating... ... More: Official Press Release GlobalData

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GlobalData, Australia, low carbon, net zero emissions, decarbonizing, investment, policy, CCS, renewable energy, power plant