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.
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."
There has been a range of reports just published on why Australia should accelerate transition and transformation to a clean economy and phase out Fossil Fuels. The Business Council of Australia On Sunday 10 October The Business Council Of Australia (BCA) released a report, reversing previous stance on a net zero target and upgraded 2030 interim emissions reduction targets.
Four days later a report by global services consultancy Accenture commissioned jointly by the Australian Conservation Foundation (ACF), WWF-Australia, ACTU and BCA was released - Sunshot: Australia’s opportunity to create 395,000 clean export jobs, charting a path for the country through the global transition to net-zero that delivers new jobs and replaces high carbon exports with clean export revenue.
These reports make it clear there are tremendous advantages in moving early with rapid ramp up of renewables, hydrogen, green steel, rare earth minerals, and services and training in the new energy economy. Thousands of jobs would be created, the great majority in regional areas allowing a transition of existing workforces with retraining in related or new skills. The benefits would flow to regional areas and the whole economy.
Ceres and the Institutional Investors Group on Climate Change (IIGCC) press conference on Beyond Paris and the US elections: investor perspectives. It highlighted that climate change is viewed by many businesses as both a risk and an opportunity.
