Australia’s plan to reach net zero emissions by 2050 is here, as predicted. The long-awaited scheme relies on huge investments in green technology, solar power, and ‘clean’ hydrogen gas projects to get there. Further reductions are projected for this decade, too: the document claims Australia will carve away 35% of its 2005-level emissions by 2030, exceeding the nation’s prior targets. Prime Minister Scott Morrison and Minister for Industry, Energy and Emissions Reduction Angus Taylor described the roadmap as a “credible pathway” reduce the nation’s greenhouse gas emissions.
Climate scientists, industry groups and the international press are a little less enthused. “This is an update on the marketing materials used by the federal government to claim it’s doing something when it’s really doing nothing new,” said Richie Merzian, the climate and energy director at the Australian Institute, told The New York Times. “It’s kind of ridiculous.” Critics say the over-reliance on unspecified technological advances make the plan ultimately very vague.
Fully vaccinated Australians will be able to travel internationally without an exemption from Monday. “I can announce today that last night the Health Minister signed off on the fact that, from November 1, Australians who are double vaccinated will be able to travel overseas,” Scott Morrison said this morning. “We are looking forward to that.” Travellers will need to show their COVID-19 vaccination certificate at the airport check-in.
Melbourne’s Crown Casino is “unsuitable” to hold a casino licence, a Victorian royal commission has found. In its final report, the royal commission found the gambling den engaged in “alarming” and “callous” behaviour, skirting the law in the process. But Crown Casino will have two years to clean up its act under the eye of a ‘special manager’ before it loses its licence.
New polling suggests Australian’s perspective on immigration has softened since the start of the pandemic. The Guardian Essential poll found that while the overwhelming sentiment was unclear, the proportion of Australians who believe immigration levels are too high dropped from 64% to 37% since 2019. It comes as federal and state leaders signal they are reconsidering migration programs as the country reopens. The Australian Chamber of Commerce and Industry called for skilled migration to nearly double to 200,000 people.
Tasmania has outperformed all other states for the seventh straight quarter, after the state recorded a surge in retail spending, which was up 18.1% on the state’s decade average. Commonwealth Bank chief economist Craig James suggests the other states won’t be able to compete until at least mid-2022, as slow returns to trade for the construction sector nationwide slow economic activity.
A survey by the Nine papers found that the majority of Australia’s corporate titans have elected to enforce mandatory vaccination as a condition of returning to work. However, some major Australian companies have developed workarounds to enable unvaccinated workers to remain with the business. “The ability for unvaccinated workers to return to the office will be dealt with on a case-by-case basis,” commercial property firm Goodman Group told Business Insider Australia.
South Australia’s Roxby Downs commanded the highest median income per job of any Australian region through 2018-2019, according to new ABS data. The analysis shows the highest-earning regions list is dominated by other mining hotspots. North Sydney and Lane Cove, both in Sydney, are the only metropolitan areas included in the top 10 list.
Elon Musk’s vast fortune increased by $US37 billion on Monday alone after Tesla’s stock price surged nearly 13%. The overwhelming majority of the Tesla CEO’s wealth comes from his ownership of a large share of the electric automaker’s stock. The same day, news leaked that Democrats were drafting a new tax proposal, under which exactly those kinds of capital gains could mean multibillion-dollar tax bills for Musk and the world’s other wealthiest people.
Facebook earned $US9.2 billion in the third quarter, up from $US7.8 billion last year. That’s more than analysts expected, even as Facebook faces controversy an internal document leak. The company made most of its money from advertising revenue, which it says might be affected by a recent Apple iOS update and wider economy issues.
Last week’s Senate crypto report called for the government to consider introducing the concept of Decentralised Autonomous Organisations into Australian company law. But what the hell does that even mean? We’ve got you covered.