Business leaders pressuring PM to commit to net zero emissions target

Prime Minister Scott Morrison is facing increasing pressure from the nation’s largest businesses to reach a net zero emissions deal with the Nationals ahead of the COP-26 climate summit in Glasgow next month.

The Business Council of Australia will release a seven-point plan today outlining how the government can commit to a target and reduce emissions to benefit the economy.

New modelling suggests Australia should more than double its emission reduction target from 20 per cent to between 45 and 50 per cent with the view of achieving net zero by 2050.

Data from Deloitte Access Economics estimates reducing emissions could see the economy grow by $890 billion in the next 50 years, creating 195,000 jobs in the process.