Andrew Forrest

Australian billionaire Andrew Forrest is one of the business world’s most prominent climate advocates. He is head of the global mining company Fortescue, and has used his platform to sharply criticize the oil and gas industry and raise the bar for corporate sustainability. In September, Forrest outlined an ambitious climate transition plan for Fortescue focused on eliminating fossil fuels from the firm’s operations by 2030 without relying on carbon offsets or carbon capture, a strategy Forrest has dubbed “Real Zero.”

What is the single most important action you think the public, or a specific company or government (other than your own), needs to take in the next year to advance the climate agenda?

There is no way to keep the goal of limiting warming to 1.5 degrees Celsius alive without ending the use of fossil fuels and accelerating the rollout of renewable energy and green technology. Governments must keep up with the science and match their policy settings to climate risk. Right now, there is one major flaw in the international climate policy process: The response is disconnected from the issue. Governments must set real targets for emissions reductions that can be achieved earlier than 2050 and are tied to real action – no offsets, no carbon capture and storage, no excuses. The Paris Agreement requires party states to set 2035 targets within the next year and this is a golden opportunity to redirect the course. By setting ambitious climate targets, governments create a platform for decarbonization and green industry development. A 2035 target of at least 75% emissions reduction, relative to 2005, is needed to be consistent with scientific guidance to limit global warming to 1.5 degrees Celsius.

What's the most important climate legislation that could pass in the next year?

The climate change and carbon pollution impact of every project up for government approval should be taken into account, and this should be legislated. Governments should commit to a legally binding carbon budget, set in line with a science-based 2035 emissions reduction target. This would require the emissions intensity of all proposed projects and infrastructure to be assessed. The budget would clearly outline the role for major projects between now and 2035, enabling and accelerating climate-responsible projects while preventing “carbon bombs” from being approved. Faced with this reality, energy companies will quickly turn to green energy.

If you could stand up and talk to world leaders at the next U.N. climate conference, what would you say?

Only Real Zero targets – which end the burning of fossil fuels – are science-based and can genuinely limit warming to 1.5 degrees Celsius. At Fortescue, we have acted in line with the science to set a Real Zero by 2030 target. By the end of this decade, we will eliminate fossil fuels from our Australian iron ore operations. Net Zero 2050 is an absolute disaster for mankind, serving only one master: The fossil fuel sector. I call on all governments and corporate leaders to ask themselves one simple question: When will you stop burning fossil fuels? I am committed to leading a global move to Real Zero for all governments and companies. We must all push our governments and companies to go Real Zero by 2040. Fortescue is committed to Real Zero by 2030, and we will show that it can be done profitably, rapidly, and reliably – everywhere.