Gas Vision 2050 is the gas industry’s commitment to lowering carbon emissions in line with the aims of the Paris Agreement on climate change. The recently held climate conference in Glasgow (COP26) in late 2021 continues to show global support for rapid decarbonisation.
Repurposing existing pipelines and networks with the use of renewable hydrogen and methane is the best solution to reaching net-zero emissions.
Actions across all sectors of the economy are required. Natural gas provided 17.4 per cent of Australia’s total energy consumption in 2019-20. It is used in 49 per cent of homes across Australia for heating, cooking and hot water. Gas also supports Australia’s commercial sector, and in high-temperature industrial processes and feedstock. Gas provided 21 per cent of Australia’s electricity generation in 2019-20 and is enabling a growing level of wind and solar power generation.
Gas infrastructure businesses are adopting internal targets to reach net-zero emissions by 2050 or earlier and major progress has been made towards providing renewable gas to customers. For the purposes of this report, we are adopting a national renewable gas target of at least 10 per cent by 2030 and a 100 per cent renewable gas target by 2040 to 2050. Individual businesses are setting their own more ambitious targets.