Liberal MPs and senators will meet in the nation's capital for crucial talks as they inch closer to a formal policy on climate change and energy.

The party is widely expected to water down its commitment to net zero emissions by 2050, but will still retain some commitment to reducing carbon pollution if it returns to government.

A party room meeting has been called for midday on Wednesday in Canberra, where members will discuss their approach to the issue.

Energy and climate policy has increasingly become a proxy battle for Sussan Ley's leadership, which some MPs say is under threat from rivals in the party's conservative flank.

On Tuesday, shadow attorney-general Andrew Wallace said he backed Ms Ley to remain in the role, but praised Angus Taylor who is widely seen as a possible chall

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