The Liberals are preparing to unveil their new climate change and energy policy after a marathon meeting of MPs and senators in the nation's capital.

The party's shadow cabinet will convene in Canberra on Thursday morning to finalise its approach to reducing carbon emissions, with an announcement expected shortly after.

The decision follows hours-long talks between all 51 Liberal MPs and senators, where a majority of party members spoke in favour of ditching Australia's goal of net zero emissions by 2050, according to people in the room.

Opposition energy spokesman Dan Tehan wouldn't be drawn on the details of party room discussions but said all members were given the chance to have their say.

"There was very, very passionate discussions in the room, because energy and emissions reduct

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