Treasurer Josh Frydenberg says achieving net zero is “not a zero-sum game” between a strong economy and a lower emissions future.
Mr Frydenberg told Sky News Australia the Coalition had made “a lot of progress internally” after several days of meetings between the parties to discuss the potential agreement.
“We haven’t as a cabinet taken a decision as of yet, and we’re continuing those internal discussions,” Mr Frydenberg said.
The Treasurer has been vocal about his support for a net zero target, saying the facts of the issue are “very clear”, and international money markets have factored for a net zero world.
“And this is impacting upon the way they price risk, the way they allocate their capital, the types of portfolios they put together,” he said.
“And as the treasurer, I want Australia to capitalise on these opportunities presented by a lower-emissions future – I don’t want us to be disadvantaged by it, and it does affect Australia because we are heavily dependent on foreign capital.
“It’s really important that we seize this opportunity.”