The authors of this report argue that Australia needs an updated industry policy, so that the nation can become an industrial success story as the world moves to net-zero carbon emissions.

Building on research and analysis published by Grattan Institute since it was founded 13 years ago, this report identifies reforms to boost incomes, improve health and education, create better transport links, make housing more affordable, generate meaningful progress on climate change, and strengthen Australia’s political institutions.

Tackling climate change will bring costs and benefits for Australia. In some sectors, the benefits will outweigh the costs. In others, big financial costs will remain even after our best cost-reduction efforts. This report finds that getting to net zero could be the biggest economic transformation Australia has seen outside of wartime.

Governments around the world are moving to net zero carbon emissions to limit the impacts of climate change. This report recommends policies to ensure Australia has access to high-quality offsetting units, both to act as a ‘safety valve’ if the cost of reducing emissions sector-by-sector is higher than anticipated, and for the ongoing task of...

Governments around the world are moving to ‘net zero’, to limit the impacts of climate change. ‘Net zero’ means reducing emissions and then offsetting the rest by removing carbon from the atmosphere and permanently storing it, possibly in trees or underground. This report focuses mainly on the former - how to reduce emissions in the...