Dr Andrew Forrest says Climate Trigger and Carbon Solutions Levy needed as well as ending fossil fuel subsidies

At the National Press Club of Australia Iron Ore magnate  Dr Andrew Forrest AO proposed three simple policies for Australia to become become a green energy superpower:

1. Implement a Climate Trigger for new projects; a “Best for Australia” test which explicitly considers climate impacts when approving new major projects.
2. Replacing fossil fuel subsidies with an equally powerful green energy subsidy well before 2030.
3. A Carbon Solutions Levy that would apply to 100 odd major fossil fuel projects in Australia and fossil fuel importing.

“Not changing is not an option, because green energy is lowest cost energy in any Australian home,” Dr Forrest said.

He called for the politicians that represent the Bush to stop taking an ideological line over climate solutions and "to stop dividing us with the false hope that we can cling to fossil fuels forever". He also labelled the Coalition’s push for nuclear energy “bulldust” and a “new lie” that would delay the clean energy transition and harm regional Australia.

Australia on track for 82 percent renewables target by 2030; IEA notes global acceleration in Renewables

Looking at 2023 renewables achieved a 38.4 percent average share of the electricity grid in Australia. This puts Australia just about on track to meet the 82 per cent renewables by 2030 target. 

Keep in mind Utility scale solar is still ramping up. New onshore wind farms are in the development pipeline. Offshore wind will only start coming into the system around 2030 but will rapidly ramp up in subsequent years. 

The IEA has also released a new report on the acceleration of renewasbles, which puts the target of tripling renewables globally by 2030 within reach if governments implement key policy measures.

Andrew Forrest's Squadron Energy’s has turned the shovel on the 414 MW 69 turbine Uungula Wind Farm near Wellington in NSW on Thursday, within the Central-West Orana Renewable Energy Zone and has an approved connection to the existing transmission grid. Squadron Energy has a commitment to delivering 14GW of green electricity, powering the equivalent of six million homes. There is a further 6GW in Squadron’s development pipeline to follow.

Stop climate 'virtue signalling' and move past fossil fuels now says Mining Billionaire Andrew Forrest on his way to COP28

Andrew (Twiggy) Forrest is no saint regarding his mining interests, with allegations his companies destroyed sacred indigenous cultural sites. 

Increasingly, he has championed climate action, energy transition, phase out of coal, oil and gas, phase out of fossil fuel subsidies, and Australia becoming an energy superpower based on our excellent renewable energy sources, and critical minerals. In this interview he calls for the old guard in fossil fuels to get out of the way, and calls Australia a Petro-state.

Forrest is non-executive Chaiman of Fortescue Metals Group (FMG). He has a strong interest in maintaining the health of the oceans and in 2019 was awarded a PhD in Marine Science from the University of Western Australia.

Global warming driven Lethal Heat poses huge mortality risk. Business needs to lead, guided by government policy says Fortescue Chairman Andrew Forrest

Dr Andrew Forrest, Iron Ore Billionaire and Chairman of Fortescue, gets that we have a climate emergency.

Maybe it was that marine science degree he did.

Fortescue has set real zero emissions targets by 2030, not net zero, no fiddling with carbon offset credits with questionable integrity.

He wants the phase out of Fossil Fuel Subsidies, better regulation by government, including to stop approval of new coal, oil and gas.

While governments need to lead on regulation, businesses need to also step up, forget carbon credits, real zero emission targets are needed.

He understands what we face with deaths from Lethal heat as temperatures rise. Yes, including in the northern bounds of Australia where temperatures over 35C plus high humidity will cause significant rates of heat related death.

He argues businesses need to lead on this at APEC meeting in November proposing to major economies of USA, China and India in particular, to render illegal any action that would prevent mitigation of global warming.

He concluded his presentation:

"Business people, if we are not fighting with our own governments, can lead this and make it happen.
Thats what I'm asking.
A simple agreement led by business, fast.
Because it is business, and I need you to know,
it is business that is causing global warming.
It is business that will kill your children.
It is business which is responsible for lethal humidity.
But it is policies that guide business.
You must hold us to account.
Don't let us with our clever advertising blame you the consumer. Or you the public or individual. Thats rubbish.
Business, guided by government will either destroy or save this planet.
Hold us to account.
Make us change."

References:

https://www.youtube.com/watch?v=kigyFOj7HUw&t=1s

Read the Fortescue ASX announcement with all the slides:
https://cdn.fortescue.com/docs/default-source/announcements-and-reports/2599801.pdf?sfvrsn=11d660ea_6

Read the report in RenewEconomy: https://reneweconomy.com.au/business-will-kill-your-children-was-andrew-forrests-climate-speech-really-that-loopy/