Opposition’s Net Zero Dispute Could Hamper Australia’s Economy, Business Leader Warns

A heated debate within the federal opposition over Australia’s commitment to net zero emissions threatens to undermine the nation’s economic stability, according to a leading business figure. Experts are calling for a focus on the practicalities of the climate transition and urging Parliament to avoid reopening old divisions that could scare away investors.

This week, the new Liberal leader expressed support for reducing emissions “appropriately,” but declined to confirm whether the party would uphold its pledge to achieve net zero emissions by 2050. Her cautious stance highlights ongoing uncertainty within the opposition regarding Australia’s climate goals.

Innes Willox, a prominent business advocate, warned that revisiting the net zero commitment would be like “re-opening an old wound,” potentially damaging investor confidence. He emphasized that many businesses have already made significant decisions based on the country’s direction toward net zero.

“Oh no, no, anything but that,” he said, expressing frustration at the idea of undoing years of planning. “For many in business, there would be a lot of eye-rolling because the fundamentals were already settled. Business has been committed to net zero for a long time and has made investment decisions based on reducing emissions by 2050. Reopening that now would put many investment plans on hold.”

This warning underscores the importance of maintaining a stable policy environment to support economic growth and sustainable investment as Australia continues to pursue its climate commitments.