CANBERRA, AAP – THE “AUSTRALIAN WAY” ON EMISSIONS

Prime Minister Scott Morrison has unveiled a whole-of-economy plan to achieve net-zero emissions by 2050

KEY ASPECTS OF THE CLIMATE POLICY REVAMP:

* Government is now projecting an emissions cut of 30 to 35 per cent on 2005 levels by 2030, but will stick with the target of 26 to 28 per cent

* Existing technologies will get Australia 85 per cent of the way there, and emerging technologies will close the gap to get to net-zero by 2050

* Main policy levers include investment in technology, incentives and offsets (including soil carbon, land sequestration, carbon capture and storage and offsets from the Indo-Pacific region)

* At least $20 billion will be invested in low-emissions technology by 2030

* Productivity Commission will monitor the socio-economic impact every five years

* Gross national income is expected to be 1.6 per cent higher to 2050

* Government is promising it will not raise the cost of electricity or put industries, regions or jobs at risk.