“Australia must call time on its climate tug-of-war. The focus should now be on giving confidence to business, workers and regional communities that a realistic approach to energy is being adopted,” ACCI chief executive Andrew McKellar said.

“We must move forward by integrating a long-term emissions reduction plan with energy policy. The government’s ambitious emissions reduction target of 43 per cent offers a pathway to achieve the economic and technological transition towards a more sustainable future.

“Reaching net zero emissions by 2050 is essential for Australian business and the entire community.

“Past failure to deal with this reality, with no certainty for industry and investors, has seen our energy sector deteriorate, culminating in the crisis experienced last month. Australian businesses and households are now paying the price.

“The business community has been very clear, consensus on energy and emissions reduction policy must be achieved. The best way to secure the planning, investment and innovation that will underlie an efficient energy transition is through legislated targets.

“Australia is uniquely positioned to meet the growing demand for affordable, reliable and sustainable energy.

“Increased adoption of renewable technologies will not only address climate change but represents an enormous competitive advantage for Australia, supporting job creation, growing businesses and driving our economic recovery.

“For the sake of certainty and a sustainable future, this legislation must pass.