(Image: Mitchell Squire/Private Media)

On Friday afternoon after the final sitting week of the year, Opposition Leader Anthony Albanese dropped Labor’s long-awaited climate policy, committing to a 43% reduction in emissions by 2030.

It’s a goldilocks plan, aimed at lowering emissions while avoiding Coalition scare campaigns and retaining support of workers in the fossil fuel sector who deserted the party at the last election.

A 43% cut is less ambitious than the 45% reduction Bill Shorten took to the electorate in 2019. It’s also lower than that of the Greens and environmental groups (obviously) and the business lobby (less obviously) are calling for. But it is more closely aligned with existing targets both at a state level -- the NSW Liberal government has committed to a 50% reduction by 2030 -- and internationally. By strengthening the medium-term emissions target, unlike the Coalition, Labor will make good on the COP26 pact.