Andrew Forrest’s grand call in a televised speech a few weeks ago for Australia to produce green steel made from zero-emissions energy such as hydrogen is starting to lead to action.
In his speech ‘Oil versus water: Confessions of a carbon emitter’ broadcast on ABC television for its Boyer Lecture series in January, Forrest said the answer to curbing Australia’s greenhouse gas emissions was not to stop mining iron ore, but to produce iron ore and steel using zero emissions energy.
“The green hydrogen market could generate revenues — at the very least — of $US12 trillion by 2050. Bigger than any industry we have,” a transcript of his speech said.
The Fortescue Metals Group (ASX:FMG) chairman said Tuesday he had appointed two Australian heavyweights to his company’s Australian Fortescue Future Industries (AFFI) group.
The company has been established to identify renewable energy and green hydrogen projects for development both in Australia and globally using Fortescue’s demonstrated expertise in adopting innovative technology.
Fortescue Metals Group has a stated policy target of achieving net zero carbon emissions from its operations by 2040, effectively decarbonising its iron ore production.
PM Turnbull brings renewable energy expertise
Former Prime Minister Malcolm Turnbull will become chairman of the special group, and former diplomat Nick Warner a special adviser for international affairs, effective immediately.
“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,” Forrest said.
“I am proud to announce that former Australian prime minister Malcolm Turnbull will join the AFFI board of directors as chairman,” he added.
Turnbull will bring vital experience and familiarity with issues such as environmental conservation and energy crises to the work of the AFFI.
The former prime minister between 2015 and 2018 promoted renewable energy and started construction of the Snowy hydroelectric scheme, the largest renewable project in the Southern Hemisphere.
AFFI is a wholly-owned subsidiary of Fortescue Metals Group and the business will have an international scope in terms of its operations.
Warner served as the director-general of the Office of National Intelligence, director-general of the Australian Secret Intelligence Service, and as Defence Department secretary.
In these posts he had a leading role in Australian activities in Afghanistan, Iraq, and Iran where he also served as Australian ambassador and as a high commissioner in PNG.
Source : https://stockhead.com.au/resources