Australia’s richest people have always built their wealth by satisfying the needs of their times. Once it was in property, retail and entertainment. More recently it’s been resources and digital technology. Now it is in making their vast business interests more environmentally sustainable.

Fortescue’s Andrew Forrest wants to do with green fuels what he did in iron ore. With Elon Musk-like audacity he has announced new-era hydrogen and ammonia industries on the scale that the oil majors produce petrol and diesel.