Capitalism — Not Government — Will Fix Climate Change, Australia Says

Strict government intervention on climate change would add pressure on living costs and threaten businesses, Australia’s Prime Minister Scott Morrison said, as global negotiators debate final outcomes from the COP26 summit.

Morrison, who has faced criticism over his country’s planned action, last month pledged to hit net zero emissions by 2050 after prolonged domestic debate, though said he wouldn’t enshrine the target in law. The country, one of the world’s top suppliers of fossil fuels, will also continue to rely heavily on projects designed to offset planet-warming pollution.