The report details pathways to industrial decarbonisation in key Australian supply chains and identifies a possible, but challenging, pathway consistent with global efforts to limit warming to 1.5ºC. This transition requires a significant stretch in ambition and can only be achieved with strong, effective, coordinated action from government, industry, and finance.
Report extract
In 2023, there is international accord that urgent action is required to reduce emissions in line with Paris Agreement goals and limit warming to below 2°C, and preferably to 1.5°C. The global average temperature has risen by around 1.1°C since pre-industrial times, with each decade recording successively warmer temperatures than the last (Intergovernmental Panel on Climate Change [IPCC] 2021). As the rise in global temperature is directly related to cumulative greenhouse gas emissions, time is fast running out to prevent warming beyond 1.5°C and the worst effects of climate change. For Australia, rapid and deep emissions reductions are needed if this nation is to contribute to global emissions reductions in line with Paris Agreement goals.
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