Former Prime Minister Malcolm Turnbull has accused the Liberal party of launching a "Trumpian campaign against renewables" following their decision to abandon the 2050 net zero emissions target. Turnbull stated that this move signals the party does not take climate change seriously and is outsourcing its policy to rightwing media. He believes this will alienate voters and that the party's leadership has a short memory and destructive tendencies.
The Liberal party's decision has been met with praise from conservative MPs and campaigners, who see it as a victory against "activists and elites." However, climate groups have condemned the reversal as a "disaster," warning of dire consequences for Australia's climate, economy, and household bills. Moderate Liberals are reportedly alarmed by the policy's impact on their ability to win back urban electorates, with some questioning how it will help gain votes.
The shift is viewed as a significant internal victory for the rightwing faction of the Liberal party over its moderate members. Concerns have also been raised about the impact on investor confidence due to the lack of long-term clarity on climate policy and the proposed rollback of Labor's climate incentives. Experts sugg... download the app to read more
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