The NSW Government has introduced its landmark Climate Change Bill, to enshrine emissions reduction targets in law in New South Wales and establish an independent Net Zero Commission.
The Climate Change (Net Zero Future) Bill 2023 commits New South Wales to cutting greenhouse gas emissions by at least 50 per cent by 2030 and reaching net zero by 2050.
Premier Chris Minns said the government is legislating emissions reduction targets to provide certainty and opportunity to households, industry and clean energy investors.
“The legislated 2030 and 2050 targets are essential to New South Wales seizing the enormous economic benefit of the transition to renewable energy, which will attract tens of billions of dollars in private investment,” he said.
The NSW Government is also creating a new stand-alone Department for Climate Change, Energy, Environment and Water, and investing in the circular economy to drive down emissions from waste.
In addition to setting robust emissions reduction targets, the Climate Change (Net Zero Future) Bill 2023 will:
- establish the Net Zero Commission – a strong, independent, expert body to monitor the state's progress to net zero. It will report annually to ensure parliamentary transparency and accountability
- put in place guiding principles for action to address climate change
- set an objective to make New South Wales more resilient to our changing climate.
Minister for Climate Change, Energy and Environment, Penny Sharpe, said the laws are a down payment on securing the future for the people of NSW.
"Legislating 2030 and 2050 targets and creating an independent Net Zero Commission fulfils a commitment to the people of New South Wales that the Government will take action to reduce greenhouse gas emissions and continue the renewable transformation of our energy system,” she said.