The federal government has unveiled Australia's emissions reduction target for 2035, and announced billions in extra funding to help the nation reach the goal while at the same time boosting the economy by trillions of dollars, increasing average wealth by $36,000 per person.

Prime Minister Anthony Albanese announced today that the nation would aim to reduce total carbon emissions by 62 per cent to 70 per cent, compared to 2005 levels.

"This is a responsible target supported by science and a practical plan to get there and built on proven technology," he said.

"It is the right target to protect our environment, to protect and advance our economy and jobs, and to ensure that we act in our national interest and in the interest of this and future generations."

The target is more ambitio

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