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Australia’s New Climate Politics Will Reshape its Entire Economy

Climate became a defining issue in Australia’s elections, say politicians Adam Bandt and David Pocock. Listen to Episode 5 of Zero, a podcast from Bloomberg Green.

Greens leader Adam Bandt claps during the party’s national campaign launch on May 16, in Brisbane, Australia.

Greens leader Adam Bandt claps during the party’s national campaign launch on May 16, in Brisbane, Australia.

Photographer: Dan Peled/Getty Images

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Long accused of being a laggard on climate action, Australia in September passed its first binding emissions reductions target, enshrining into law a 43% cut from 2005 levels by 2030 and net zero by 2050. But the bill has already been criticized for its lack of teeth, and how effective it will be at moving the country — one of the world’s largest exporters of coal — away from fossil fuels.