For Australia to achieve net zero by 2050, all coal, gas, and oil projects currently in the construction pipeline would need to be cancelled, according to a landmark report by the Institute of Public Affairs (IPA).
“This research reveals that a policy of net zero emissions by 2050 will inflict significant and irreparable economic and humanitarian damage across regional Australia,” IPA Director of Research Daniel Wild said.
“Many regional communities face the risk of being entirely wiped out by the destruction of the industries which they rely on as a result of net zero.”
Along with a complete wipeout of all the projects in the construction pipeline, Australia’s economy would also lose over 478,000 potential new jobs, with North Queensland to be hit hardest.
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