According to new data, Sydney residents are not on track to meet the state's 2030 or 2050 net zero targets.

The committee for Sydney, an urban policy think tank led by an influential body of business leaders and infrastructure experts, has said radical action is needed to cut emissions. 

The report titled Decarbonising Sydney proposes a rapid increase in the use of electric vehicles (EVs) and the closure of additional coal plants. 

"If electric vehicles carry the vast bulk of achieving the 2030 target, 100% of passenger car sales will need to be EVs in 2027, leading to approximately 850,000 passenger EVs on the road by 2030." the report said. 

The proposed plan also outlines no new gas appliances by 2030 and no new gas connections from 2035.

Sydney is currently the contributor of 36% of all NSW emissions; the plan would reportedly cut the city's emissions by 43% by 2030 and 80% by 2050.

Committee spokesman Sam Kernaghan said the city has plenty of work to do to reach the expected targets.

"NSW’s climate policies are leading the nation, but this research is a wakeup call that Sydney’s not on track for net zero," Mr Kernaghan said.

"To halve emissions by 2030, the only levers big enough to make a real difference are getting many more electric vehicles on the road, and reducing the carbon intensity of the energy we use.

"Both come with big social, logistical and political challenges, but the reduced energy bills that come with electrifying transport and buildings will be worth it."

The new report falls in line with the New South Wales Government's 2021 Electric Vehicle Strategy, targeting an all-electric passenger fleet by 2030.

Data modelling from the report found that by 2050, an EV could save a household on average, up to $1,250 per year in fuel costs. 

Switching to solar panels could also save an additional $1,000 per year in energy bills and a home battery could reduce those bills by a further $850 per year. 

The report revealed that a shift to public transport, cycling and walking, and newer forms of mobility via e-scooters and EV taxis will be essential in reaching NSW’s 2050 targets.


Advertisement

In the market for a new car? The table below features green car loans with some of the lowest interest rates on the market for low-emissions vehicles.

Lender

FixedNew1 yearMore details
Approval within 24 hours
  • Save the planet. Save thousands on your car loan.
  • 1% discount on qualifying electric cars
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
Approval within 24 hours

Green Car Loan Fixed

  • Save the planet. Save thousands on your car loan.
  • 1% discount on qualifying electric cars
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
FixedNew, Used7 yearsMore details

Hybrid and Electric Car Loan

    FixedNew, Used99 yearsMore details

    Electric Vehicle Loan (Fixed)

      VariableNew99 yearsMore details

      Green Car Loan

        Important Information and Comparison Rate Warning

        All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

        The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

        Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of December 6, 2023. View disclaimer.

        Image by Dan Freeman via Unsplash.





        Ready, Set, Buy!


        Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

        With bonus Q&A sheet and Crossword!

        By subscribing you agree to our privacy policy