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ARTICLE · 26 JUNE 2025

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May 2025 ESG Policy Update—Australia

K&L Gates
K&L Gates
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K&L Gates

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On 3 May 2025, the incumbent Labor government, led by Prime Minister Anthony Albanese, won re-election to a second consecutive term in office.

AustraliaCorporate/Commercial Law
Jim Bulling
Jim Bulling
Clive Cachia
Clive Cachia
Lisa Lautier
Lisa Lautier
Adam Levine
Adam Levine
Tom Young
Tom Young
Nathan Bodlovich
Nathan Bodlovich
Daniel Nastasi
Daniel Nastasi
Natalia Tan
Natalia Tan

AUSTRALIAN UPDATE

ESG-Related Policy in Australia Under the Newly Re-Elected Labor Government

On 3 May 2025, the incumbent Labor government, led by Prime Minister Anthony Albanese, won re-election to a second consecutive term in office.

The government is expected to continue to advance its series of ESG initiatives. Central to their environmental agenda are the targets of 82% renewable electricity by 2030 and a net zero emissions economy by 2050.

The government made significant investments in the nascent green steel and hydrogen production industries and has also pledged AU$250 million to protect and conserve 30% of Australian land and sea by 2030 and allocated AU$96.6 million to expedite environmental approvals. These efforts are complemented by an AU$1.2 billion investment to safeguard the Great Barrier Reef.

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