Sky News contributor Joe Hildebrand has discussed the economic case for adopting a net zero target, arguing that “capitalism has conquered climate change”.
Mr Hildebrand acknowledged many people were concerned about insecure power supply, higher power prices and more costly subsidies.
However, the “advancements, the innovation, the competition that has driven that innovation and advancements has largely eliminated some of those concerns,” he told Sky News Australia.
Mr Hildebrand noted there seems to be a “very bright future for Australia in a net zero economy”.
“Whether or not we embrace it, that’s the direction the rest of the world is going in – so it’s a train that’s leaving the station whether we like it or not.
“The only question is whether Australia gets on board.”