Government unveils 2050 carbon modelling

·1-min read

KEY POINTS IN THE GOVERNMENT'S EMISSIONS PLAN MODELLING

* Australians will be almost $2000 better off in 2050 compared with the "No Australian Action" scenario, based on a predicted 1.6 per cent rise in economic activity and national income.

* Not having a 2050 net-zero plan could reduce investment in Australia by an average of 5.5 per cent and cut Australians' income by $650.

* Under the plan, all major export sectors grow to 2050, with the value of agriculture projected to grow around 30 per cent, mining around five per cent, and heavy industry around 110 per cent.

* Global demand shifts are expected to reduce the value of coal production by around 50 per cent to 2050, and slow the growth of gas.

* Australian hydrogen production could be worth more than $50 billion in 2050, lifting national income by about $1000 per person.

* The plan could result in a net gain of up to 62,000 jobs in regional mining, energy and heavy industry sectors, and up to 76,000 by 2050 when jobs in renewables for hydrogen production are included.

(Source: Australia's long-term emissions plan modelling document)

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