Treasurer Josh Frydenberg has reportedly backed the case to cut greenhouse gas emissions to net zero by 2050. In a speech to a peak industry group today, Frydenberg is expected to warn that Australia could face higher borrowing costs if it is locked out of foreign capital markets because of assumptions that the nation is moving too slowly towards a low-emissions future. It’s the strongest endorsement to date from a senior cabinet minister, and experts say his push could strengthen support for the goal within the government ahead of the UN’s COP26 Climate Change Conference. As it stands, our government’s position is to reach net zero “preferably” by 2050, but many are calling for an official commitment to that position. For PM Scott Morrison’s part, he told US President Joe Biden earlier this week that Australia was working through its own “Australian plan”, which would be settled in the coming weeks.