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The Albanese Labor government has announced Australia's commitment to reducing greenhouse gas emissions by 62-70% from 2005 levels by 2035. This target, informed by independent climate advice, will be supported by a $5 billion net zero fund and various initiatives aimed at promoting renewable energy, electric vehicles, and clean fuel production. The government's plan emphasizes the economic opportunities presented by the transition to clean energy, positioning Australia to benefit from global investments in sustainable technologies.