Business
Japan’s net-zero pledge serves Australia fossil fuel ‘divorce papers’ – The Australian Financial Review
Japan’s pledge to reach net-zero emissions by 2050 has thrown into doubt the future of Australia’s $38 billion export trade in coal and LNG with the country.
Japan is Australia’s largest customer for LNG and its biggest trading partner in coal. In 2019, Australia exported some $17 billion of coal to Japan, while LNG exports totalled $21 billion, according to industry department figures.
Erwin Jackson, policy director at the Investor Group on Climate Change, noted that with Japan’s announcement more than 60 per cent of Australia’s two-way trade is now with countries driving to net-zero by or shortly after 2050. That would increase to more than 70 per…
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