Mining giant Fortescue says it’s time to walk away from the ‘proven fantasy’ of net zero



Mining giant Fortescue says it’s time to walk away from the ‘proven fantasy’ of net zero

https://www.cnbc.com/2024/10/02/mining-giant-fortescue-time-to-walk-away-from-the-net-zero-fantasy.html

by cnbc_official

7 comments
  1. Australian mining tycoon Andrew Forrest, founder and executive chairman of [Fortescue](https://www.cnbc.com/quotes/FMG-AU), says it is time for the world to walk away from the “[proven fantasy](https://www.cnbc.com/video/2024/10/02/time-to-walk-away-from-the-net-zero-fantasy-fortescue-chair-says.html)” of net zero emissions by 2050 and to embrace “real zero” by 2040 instead.

    Speaking to CNBC’s “[Street Signs Europe](https://www.cnbc.com/street-signs-europe/)” on Wednesday, Forrest called on business executives and politicians reluctant to make the changes necessary to avert the [worst of what the climate crisis has in store](https://www.cnbc.com/2024/02/08/climate-world-surpasses-key-warming-threshold-across-an-entire-year.html) to make way for leaders willing to take on the decarbonization challenge.

    Fortescue, which is the world’s [fourth-largest](https://fortescue.com/what-we-do) iron ore miner, has [outlined](https://fortescue.com/news-and-media/news/2024/09/25/fortescue-unveils–high-ambition–climate-transition-plan-to-reach-real-zero-at-united-nations-general-assembly) plans to stop burning fossil fuels across its Australian iron ore operations by the end of the decade — and urged other hard-to-abate companies to follow suit.

    “All those leaders who say to me, say to the world, say to their kids, ‘oh you know we can’t do it, my company can’t do it, I can’t do it, you don’t understand we can’t actually do it,’” Forrest said in an exclusive interview.

    “What they are really saying is that you can’t do it. And I’m saying to each of those chief executives and those political leaders who use the words ‘I can’t,’ OK, what about you get off the stage and let on a young girl or wiser leader who can. Someone with a bit of ticker because the technology is there,” he continued.

    “We know the world can go real zero 2040 and I’m reaching out to the business people and politicians across our planet to say it is time now to walk away from this proven fantasy [of] net zero 2050 and adopt real zero 2040,” Forrest said. “We can, we must, let’s do it.”

    More: [https://www.cnbc.com/2024/10/02/mining-giant-fortescue-time-to-walk-away-from-the-net-zero-fantasy.html](https://www.cnbc.com/2024/10/02/mining-giant-fortescue-time-to-walk-away-from-the-net-zero-fantasy.html)

  2. Stopping burning of fossil fuels for mining operations by 2040 sounds like a good step forward.
    Saying that net zero by 2050 is impossible sounds worrying. I would be interested to hear why, and more importantly; how close to net zero does he think can we get?

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