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 challenger.
"He has been outstanding in (the defence portfolio) and I really do think that he has been an exemplar as a potential leader," he told ABC TV.
Liberal insiders have stressed Wednesday's meeting will not include a vote, and will only be a discussion about policy.
A meeting of the Liberal shadow ministry will be held on Thursday for the leadership team to finalise its energy plan.
The party will then need to negotiate with its coalition partner the Nationals, who have already promised to ditch net zero by 2050 and instead tie Australia's carbon emissions to an average of OECD countries.
The Liberals and Nationals will attempt to thrash out a final agreement before a joint party room meeting on Sunday where the policy will, in theory, be officially endorsed.
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