Andrew Forrest urges Scott Morrison to embrace targets to achieve net zero by 2050
Andrew Forrest calls on government, business to embrace more ambitious targets ahead of the UN climate summit in Glasgow.
Fortescue chairman Andrew Forrest has called on the Morrison government and Australian businesses to embrace more ambitious climate targets ahead of the United Nations climate change summit in Glasgow, declaring “the planet is cooking and we are running out of time”.
The billionaire iron ore magnate said urgent action to achieve net zero emissions by 2050 was “critical” and welcomed a speech by Josh Frydenberg on Friday outlining pathways to a low-emissions future.
“It is critical for Australian businesses, Australian jobs, our communities, our children’s future, our world. The planet is cooking and we are running out of time. That is why the action taken at COP26 in November is so important,” Mr Forrest said.
“For this revolution to happen, we need targets. Targets are the major success driver of a workforce and its leadership in any project. Targets are like aiming for a gold Olympic medal. No targets, no success.
“Targets are our last chance to slow, then stop, the planet cooking. Australian businesses need a target. Children of the world need Australia to act.”
In a speech to Australian Industry Group members on Friday, the Treasurer praised Fortescue for committing “over $1bn to produce renewable green hydrogen to fuel future steel making activities”.
He said Australian mining companies, including Fortescue and BHP, were at the “cutting-edge of innovation and technological change”.
“When I talk to these and other large Australian companies about how they are positioning for the future, they not only expect to be around in 2050, but to be bigger and stronger,” Mr Frydenberg said.
“There is a message here for business: opportunities will abound and it will be those businesses that recognise these trends and put plans in place to adapt that will have the most promising futures.”
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