Net Zero

In May 2024, the Albanese government has proposed legislation to create a Net Zero Economy Authority, aiming to stimulate investment in clean energy technologies to advance the goal of achieving net zero emissions.

Early climate discussions emphasized stabilizing greenhouse gas concentrations, leading to the recognition of emissions reduction and compensation mechanisms.
The Kyoto Protocol highlighted carbon sinks and introduced carbon offsetting mechanisms, laying the groundwork for "carbon neutrality."
Policymakers transitioned to temperature targets, such as limiting warming to 2°C, driven by improved understanding of carbon budgets.
Advocates pushed for "net zero" emissions by 2050 as a clear metric for climate negotiations, gaining traction internationally.
The Paris Agreement incorporated the goal of achieving a balance between emissions and removal by sinks, enshrining "net zero."