The Liberal Party has formally agreed to dump the 2050 net zero target but will describe it as a “welcome outcome” if it can be achieved without government intervention, after the party’s right flank pushed under-pressure Opposition Leader Sussan Ley to upend the Coalition’s energy policy.

A shadow ministerial meeting on Thursday morning confirmed the decision after Wednesday’s party room meeting showed a majority of the party’s MPs were in favour of dumping the target, alarming business and climate groups .

The meeting of Liberal frontbenchers agreed to remain in the Paris Agreement, set interim climate targets when in government, and say that a net zero future would be a “welcome outcome” should it become achievable with new technologies and without using taxes or government mechan

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