Turnbull, the spy and Forrest’s moonshot
Former Prime Minister Malcolm Turnbull and Australia’s one-time chief spy will join Andrew Forrest’s push to green the world’s energy supply.
Former Prime Minister Malcolm Turnbull and Australia’s one-time chief spy will join Andrew Forrest’s push to green the world’s energy supply, signing on to roles with the mining billionaire’s Fortescue Future Industries group this month.
Dr Forrest launched FFI at Fortescue’s annual shareholder meeting in November, laying out ambitious plans for the iron ore miner to become one of the world’s biggest renewable energy players, telling investors Fortescue plans to eventually produce 235 gigawatts of renewable energy, or five times the current capacity of Australia’s National Energy Market.
The mining billionaire has been travelling the world stitching up early stage agreements to develop renewable energy projects and green industry precincts in developing nations such as Papua New Guinea, Indonesia, Afghanistan and beyond.
Last week Fortescue said it planned to pump as much as 10 per cent of its annual profits into its clean energy ventures in the future.
On Tuesday Dr Forrest announced that Mr Turnbull and former Australian Secret Intelligence Service boss Nick Warner would join the ambitious project.
Mr Warner, a career diplomat who headed Australia‘s intelligence community through the Office of National Assessment until last year and was the director-general of ASIS from 2009 to 2017, will join FFI as its special adviser on international affairs.
Mr Turnbull will chair a separate company, Australian Fortescue Future Industries, established in November after Dr Forrest made his announcement. Its current directors include Fortescue chief financial officer Ian Wells, along with one of the company’s internal lawyers and its company secretary.
Fortescue Future Industries has a busy schedule set for Australia over the next year, with the company due to deliver feasibility studies into a hydrogen project in Tasmania, and build a “green steel” pilot plant in WA by the end of 2021.
Dr Forrest said both men would bring significant skills knowledge to Fortescue’s green push, pointing to Mr Warner’s career as a diplomat at spy, and Mr Turnbull’s role in pushing for the establishment of the Trans Pacific Partnership free trading agreement and his failed attempt to legislate a carbon emissions trading scheme in 2007 as environment minister – a push which ultimately cost him the Liberal leadership in 2009.
“Mr Warner’s expertise on global intelligence is incomparable, and his knowledge will be critical as we continue to engage foreign Governments to explore green hydrogen opportunities,” Dr Forrest said.
“Mr Turnbull has been involved in key policy decisions that have not only altered Australian society but also have international implications for other countries facing similar issues including the environmental conservation and energy crises. He will bring a level of vital experience as we continue our journey to bring FFI to a global audience.”
Both men are due to begin their roles with Fortescue Industries later this month, Dr Forrest said.
Since leaving the Office of National Assessment in October Mr Warner has embraced his post-public service consulting career with vigour.
He picked up consultancy work for the Department of Prime Minister and Cabinet in January and this week came under fire for taking an role with high-powered advisory group Dragoman Global, which boast a slew of former high profile political, business and diplomatic names on its roster, including former Dow boss Andrew Liveris, one-time UK foreign minister Sir Malcolm Rifkind and former Australian defence minister Robert Hill.
The latest appointments are not the first time Dr Forrest has recruited high-profile diplomatic, sporting, and political figures as business allies at his corporate empire.
Australian Olympic great Herb Elliott was Fortescue’s chairman for 11 years, and former Labor Prime Minister Bob Hawke reportedly acted as an occasional adviser to Dr Forrest on China in the company’s earlier days.
Australia’s former ambassador to China, Geoff Raby, also served as a Fortescue board member and British Olympian and politician Lord Sebastian Coe is still a director of the company.
Fortescue shares closed up 10c to $24.84 on Tuesday.