Australians’ choice of gas or electricity for hot water and heating is influenced by regulation, circumstances, information, and personal preferences. Australia needs to get off natural gas if we are to have any hope of achieving net-zero carbon emissions by 2050, according to this report.

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...