JULIAN HILL, ASSISTANT MINISTER FOR CITIZENSHIP, CUSTOMS AND MULTICULTURAL AFFAIRS: G'day everyone and thank you so much for coming and I'd like to welcome the Prime Minister back to South East Melbourne. We're in Narre Warren in South, in the beautiful Berwick Springs estate. But particularly, to thank Shane and Danielle and 2-year-old Parker and Trigger the dog, particularly, for a beautiful photo, for welcoming us to their home. We've just been in the garage having a look at the newly-installed, giant battery to work with the solar rooftop set.

ANTHONY ALBANESE, PRIME MINISTER: Well, thanks very much for joining us. This morning, I convened a meeting of our Cabinet and also a full meeting of the Federal Parliamentary Labor Party Caucus to discuss and consider the Climate Change Authority's independent, expert advice on Australia's 2035 emissions reduction target. Our Government knows that climate change is real, and we want to continue to seize the economic opportunity that the energy transition offers our nation.

Today, we’re announcing Australia’s next step in acting on climate change and seizing the economic opportunity before our nation.

The Albanese Labor Government has accepted the Climate Change Authority’s independent advice and will set our 2035 climate change target at a range of 62% to 70% reduction on 2005 emissions.

JAMES MARAPE, PRIME MINISTER OF PAPUA NEW GUINEA: Alright, thank you very much. And to Papua New Guinea, happy 50th anniversary. Yesterday was reflection, yesterday was our commemoration of our 50th anniversary of democracy, a free market economy, freedom of religion, freedom of worship and existing as an independent state.

Papua New Guinea and Australia have agreed on the text of a Mutual Defence Treaty, which will be signed following Cabinet processes in both countries.

The signing of the Papua New Guinea-Australia Mutual Defence Treaty – the Pukpuk Treaty – will elevate the defence relationship between Papua New Guinea and Australia to an Alliance.

The core principles of the Pukpuk Treaty will include:

PETER STEFANOVIC, HOST: Well, Independence Day celebrations have taken place in Papua New Guinea this morning. Our chief anchor, Kieran Gilbert is there right now alongside a special guest, the Prime Minister.

ANTHONY ALBANESE, PRIME MINISTER: It's a great honour for me as Australia's Prime Minister to be here to celebrate 50 years of the birth of this great nation of Papua New Guinea. Prime Minister Marape gave a powerful and inspirational speech this morning where he spoke about the fact that the Australian flag 50 years ago was lowered, it wasn't torn down. Australia was partners in what was an effective and peaceful transition, to the great credit of those great leaders, led by Mr. Somare, of whom a statue is placed outside Parliament House here in Port Moresby.

BRIDGET BRENNAN, HOST: Good morning to you, Prime Minister. I think I can nearly wave at you from the Torres Strait. How's the mood there in PNG?

ANTHONY ALBANESE, PRIME MINISTER: Good morning. Well, you can. If you’re on Saibai, you could swim, because you can see PNG from that island.

KARL STEFANOVIC, HOST: The Prime Minister's landmark defence deal with Papua New Guinea seems to have hit a last minute snag.

SARAH ABO, HOST: To discuss, the PM joins us live now from Port Moresby. Prime Minister, good to see you. So, do we have a deal or not?

MATT SHIRVINGTON, HOST: The Prime Minister, Anthony Albanese, joins us live in Port Moresby. Great to have you with us.

ANTHONY ALBANESE, PRIME MINISTER: Good morning, good to be with you.

SHIRVINGTON: Let's go through this. So, we understand St Clement’s, the church, of course, has ended the lease. They've made their decision. But you abandoning your office, is it setting a dangerous precedent?