Co-authors: Craig Hutchinson, Alina Dini, Remy Fonseca, Tim Kreuziger, Tobias Fanger, Matthias Van Kerkhove
In the face of Australia’s — and the world’s — climate change challenges, we are accelerating the transition pathway to reduce emissions to create a clean energy future.
With Australia committed to the pursuit of net zero by 2050, our emissions targets are ambitious. And the potential downside of failure, as well as the upside of success, is stark. Deloitte Access Economics estimates that inaction will have the effect of curtailing Australia’s economic growth and result in 880,000 fewer jobs in just 50 years. On the flipside, Australia can make choices that can create a new climate for growth, leading to a bigger economy with 250,000 more jobs1.
While Australia’s energy transition aims to create a clean energy future for all Australians, consumers — the households that so heavily rely on accessible and affordable electricity — are at risk of being left behind.
If we are to achieve an equitable and fair transition to Australia’s net zero ambitions we must put the consumer at the heart of the journey. We must work harder to make the transition easier, more affordable and one that delivers maximum energy efficiency. And we must have the conversations that help to build consumer confidence in the fast pace of the transition.
The good news is that consumers have already signalled their willingness to make small changes in their energy purchase and consumption behaviour. Now, we must support them to implement the bigger actions to drive the energy transition.