Fortescue – the fourth largest iron ore miner in the world – presented bold plans moving away from burning fossil fuels in its Australian iron ore locations by the end of the decade.
Scientists have repeatedly called for speedy reducing greenhouse gas emissions in order to stop the growth of averages global temperatures. Australian mining tycoon Andrew Forrest, founder and executive chairman Fortescueargues that it is time for the world to move away from the ‘fantasy’ of net zero emissions by 2050 and instead adopt a ‘true zero’ target by 2040.
Directors and politicians reluctant to change are to resign
Appearing on CNBC’s “Street Signs Europe,” Forrest called out corporate executives and politicians reluctant to make the changes needed to prevent the worst that lies ahead climate crisis and to make way for leaders who are ready to take action decarbonization challenge.
Fortescue called on other mining giants to follow suit. “All these leaders that are talking to me, they’re talking to the world, they’re saying to their kids, oh, you know we can’t do this, my company can’t do this, I can’t do this, you don’t understand that we don’t really we can do this<<,” Forrest mocked in an exclusive interview with CNBC.
“They actually say you can’t do it. And I say to every one of those CEOs and political leaders who use the words “I can’t” – OK, why don’t you step off the stage and let in a young girl or a smarter leader who can. (…) Technology It’s already here,” he assured.
The world could go zero emissions in 2040
“We know the world can go zero in 2040. I am appealing to business people and politicians across our planet (…) – it is time to move away from this proven fantasy of net zero in 2050 and embrace net zero in 2040 Forrest said. “We can, we must, let’s do it,” he added.
Deadline net zero refers to the goal of achieving a balance between the carbon dioxide emitted into the atmosphere when burned and the carbon dioxide removed from it.
Plans to achieve net zero emissions
More than 140 countries, including major polluters such as the United States, India and the European Union, have adopted plans to achieve net zero emissions.
To reach the critical warming threshold of 1.5 degrees Celsius (this is the target assigned in Paris Agreement) global carbon dioxide emissions should reach net zero by about mid-century, according to the nonprofit Energy and Climate Intelligence Unit.
For high-income countries like the United States, this means achieving net zero by 2050 or earlier, while for low-income countries it may mean achieving net zero by 2050-2070.
What is “real zero”?
“The real zero is the ability of this planet to use the technology it currently has to stop burning greenhouse gases (…),” Forrest said. “If we did this by 2030, we would have a 50:50 chance of avoiding the worst effects of global warming. (…) Fortescue will make it happen. We are a huge industrial companyemitting huge amounts of pollutants. We will stop burning all fossil fuels easily this decade, not next decade – this decade,” he added.
More than 140 countries, including major polluters such as the United States, India and the European Union, have adopted plans to achieve net zero emissions. Scientists have repeatedly called for rapid cuts to contain greenhouse gas emissions increase in average global temperatures. These calls were continued by alarming temperature records that put the planet on track to record the hottest year in human history in 2024.