When Australia signed the climate agreement in Paris, the country faced a daunting task. They would need to cut their current emissions levels by 50% to achieve a net-zero profile by 2050, as promised.
Cheap technology is the key that unlocks the potential of a cleaner world. Over 120 countries have established targets to reach a net-zero profile, and mature industries are already in a position to make that goal become a reality.
Although COVID-19 created challenges for businesses and families all over the world, it also showed how quickly the planet could enter into a healing phase. Economic shocks might keep industry supports suppressed for the next year or two, but the lack of pollution going into the atmosphere is still keeping Australia on track for a successful outcome.
Stimulus Payments Could Hasten Progress
Australia believes that upgrades to commercial buildings and homes can boost energy efficiency ratings. The goal is to transition as many properties as possible to solar panels, develop electric vehicle charging stations, and improve recycling programs.
The government believes that small transactions using stimulus money and existing technology can make this all possible. Renewable energy is already cheaper than fossil fuels in some areas, while the cost of batteries dropped by over 80% since 2009.
Australia has the technological capacity within its economy to achieve its climate change goals. That means everyone else who is committed to a healthier world can achieve a similar result. All it takes is some economic investment and a desire to continue the progress made during the COVID-19 restrictions.