Australia's LTS sets out a target to reach net zero by 2050. Policy actions outlined to achieve this goal are based on five pillars:
1. Technology not taxes – no new costs for households or businesses,
2. Expand choices, not mandates – work to expand consumer choice, both domestically and with trading partners,
3. Drive down the cost of a range of new energy technologies – bringing a portfolio of technologies to parity is the objective of Australia’s Technology Investment Roadmap,
4. Keep energy prices down with affordable and reliable power – the Plan will consolidate Australia's advantage in affordable and reliable energy, protecting the competitiveness of our industries and the jobs they support, and
5. Be accountable for progress. Australia will continue to set ambitious yet achievable wholeof-economy goals, then beat them, consistent with its approach to its Kyotoera and Paris Agreement targets.