The Coalition plans to revise its approach to emissions reduction, focusing on year-on-year decreases based on the performance of other developed nations. A joint submission from the Liberal and National parties outlines these changes, which include abandoning the net zero target and removing Labor's goal of a 43% emissions reduction by 2030 from legislation. This document was leaked ahead of a virtual meeting scheduled for Sunday afternoon, where it is expected to receive final approval without significant alterations.

Under the proposed plan, the Coalition aims to reduce emissions on average each year for every five-year period of Australia’s Nationally Determined Contribution. The strategy emphasizes acting in Australia’s national interest, taking into account the actual performance of OECD countries. The Coalition asserts that emissions reductions will occur as quickly and extensively as technology permits, without imposing additional costs on families or industries.

The Coalition's position does not include long-term emissions reduction targets. However, it states that achieving net zero would be favorable if accomplished through technology, personal choice, and voluntary markets. If the Coalition wins the federal election in 2028, it intends to propose an amendment during the first national cabinet meeting with states and territories. This amendment would remove emissions reduction as a national objective for the Australian Energy Market Operator (AEMO). Instead, the Coalition aims to prioritize consumer interests regarding price, quality, safety, reliability, and security of energy supply.

The policy submission indicates that AEMO would focus on designing the electricity grid to deliver a cost-effective energy system for consumers rather than meeting political targets. The Coalition plans to eliminate strict mandates under the Safeguard Mechanism, oppose Carbon Border Adjustment Mechanisms, and remove penalties associated with the New Vehicles Emission Standard. Additionally, it intends to revoke Labor's fringe tax benefit exemption for electric vehicles.

A new "technology-neutral" affordable energy scheme is proposed to support both new and existing power generation methods, including gas, hydro, batteries, coal, and renewables. This scheme would involve modest underwriting to keep energy prices low and ensure necessary investments occur in the right areas. The Coalition also aims to expedite new energy supply by providing investors with certainty across all technologies and to prevent the premature closure of reliable energy sources until replacement capacity is available.

The submission outlines plans to amend the Climate Change Act of 2022 to formalize the new energy scheme and establish a code of conduct for electricity infrastructure developers. This code would require a social license and protect agricultural land and native habitats. The Coalition also intends to maintain its commitment to cancel four of the six offshore wind zones announced by Labor.

Contracts under the Capacity Investment Scheme and Rewiring the Nation that have not reached a final investment decision will be reviewed. The Coalition supports new gas supply by streamlining regulations and committing to an annual release of offshore acreage. An east coast gas reservation scheme will be established to ensure domestic supply while safeguarding international contracts and keeping prices down.

The Coalition seeks to prevent the premature closure of coal plants by lifting the ban on nuclear energy technology and adding uranium to the critical minerals list. If elected, a voluntary market under the Accountability and Baseline Credits Scheme would require major emitters to report emissions transparently, without the forced decline rates or punitive costs proposed by Labor. Facilities that reduce emissions below their baseline would be able to earn, bank, and trade credits. Additionally, the Coalition aims to restore veto powers for the Agriculture Minister to block native forest vegetation projects that could negatively impact agricultural production and regional communities.