The Liberal Party will ditch its support for reaching net zero by 2050 after senior MPs endorsed scrapping the party's emissions goal while agreeing to retain a commitment to the Paris Agreement.

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Two Liberal sources confirmed the party's plans to abandon legislated climate targets after Liberal members of the shadow ministry met on Thursday, ahead of a joint Coalition meeting on Sunday to decide the opposition's position.

Opposition Leader Sussan Ley is expected to announce the decision at a press conference shortly.

A majority of Liberal MPs voiced their desire to abandon net zero

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