Net Zero Plan Stage 1: 2020–2030

Net Zero Plan

The NSW Government is committed to maintaining a strong economy, improving the quality of life for the people of NSW and protecting the environment.

That’s why the NSW Government’s objective is to achieve net zero emissions by 2050 by creating new jobs, cutting household costs and attracting investment.

This Net Zero Plan Stage 1: 2020–2030 (Plan) sets out how the NSW Government will deliver on these objectives over the next decade. The Plan is focused on the next decade because rapid changes in
technology make identifying the lowest cost path to net zero difficult. Plans for the second and third decades of the net zero path will be developed in the lead-up to the 2030s and 2040s respectively.

The purpose of the Plan is to give NSW families and communitiesconfidence that the challenges posed by climate change can be solved by improving – not eroding – their prosperity. It will also
send a clear message to local and international investors that New South Wales is open for business when it comes to delivering on our economic, social and environmental ambitions.

The Plan is financially supported by a Bilateral Memorandum of Understanding on Energy and Emissions Reduction Policy between the Commonwealth and NSW Governments (Bilateral).
The Plan is set out in four parts:

  1. A global challenge with local opportunities – the trends and opportunities arising from global climate change action
  2. Progress and projections – progress within New South Wales to date to reduce emissions and future projections
  3. The net zero priorities – the NSW Government’s net zero priorities
  4. Keeping track – the Government’s approach to keeping track of its progress.

By delivering the Plan, New South Wales is expected to create almost 2400 jobs and attract over $11.6 billion of investment over the next 10 years. Almost two-thirds of this investment will go to regional and rural New South Wales. The Plan is expected to save households $40 a year on their electricity bills.

Two additional points should be noted. First, there will be unexpected developments in technologies over the coming decade just as we’ve seen over the past decade with the falling cost of renewable energy.

The NSW Government will look to take advantage of the benefits new technologies offer. Accordingly, while the actions set out in this plan constitute the NSW Government’s primary policy to reduce emissions, the Government will also look at emerging opportunities to reduce emissions, as low emissions technologies fall in cost or offer other benefits.

Second, achieving net zero emissions by 2050 will require more than action from the State and Commonwealth Governments. It will require action from local government, business, communities
and individuals. Many are taking action already and there is every indication that people will increase their efforts over time.

For these reasons, this Plan is intended to be a foundation for the State’s action on climate change, to be built on into the future.

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