National Party to see light on green

Exclusive: Forrest has vision for future, and he thinks Deputy PM can swing his party behind it, writes

MINING tycoon Andrew “Twiggy” Forrest is declaring confidence Deputy Prime Minister Barnaby Joyce will steer an embrace of renewable energy and a net-zero emissions target, branding him a practical leader who would soon realise the move is about jobs for future generations.

In an exclusive interview, Dr Forrest unveiled the first products of his multibilliondollar vision to spearhead a global revolution in green hydrogen energy, which produces only water as exhaust.

In just months, his Fortescue Future Industries developed a giant mining truck powered by green hydrogen and transformed a locomotive to run on a half-mix of diesel and green ammonia (produced from hydrogen) – with the aim of having it run only on ammonia soon.

Dr Forrest, who has committed to making Fortescue green by 2030, declared his confidence that Australia would adopt a net-zero emission target because “mum and dad on struggle street believe that brings a brighter future”.

Mr Joyce has said “keeping the confidence of our people” was vital in delivering practical climate change ambitions.

Speaking before the Nationals’ party room met on Sunday to discuss a net-zero emissions target, Dr Forrest predicted the Deputy PM would convince his party and supporters to back the move.

It is understood he has been lobbying Mr Joyce ahead of the UN Climate Change Conference (Cop26), starting in Glasgow on October 31.

“I think Mr Joyce is a practical leader. And when he sees the voters for the National Party are much better off, and the Australian economy is much better off, not being

held back by tired old slogans that if you’re against the fossil fuel industry you’re against people’s careers is completely wrong,” Dr Forrest said.

“And, in fact, that if you’re for renewable electricity, if you’re for sustainable energy, then you’re for your voters, and you’re for the National Party voters, and you’re for their careers you’re for their children. You’re for their jobs. You’re for their futures.

“Then, as a practical leader, I think Mr Joyce will support that.”

Fortescue Future Industries, which is funded with 10 per cent of Fortescue Metals Group revenue, is gearing up to produce 15m tonnes a year of renewable green hydrogen by 2030, increasing to 50m tonnes a year in the next decade thereafter – energy production equivalent to today’s largest oil and gas companies.

Dr Forrest declared his confidence that Australia would agree, in the national interest, to set a zero-emission target ahead of COP 26.

“The time has come for people throughout the country, and in the country, to really be excited by the new future of sustainable energy and sustainable products which come from it, and to really enjoy that,” he said.

“They don’t have to say, well, we’re giving up fossil fuels, we’re taking a huge risk.

“No, they’re just embracing an industry which they will be very good at.”

Dr Forrest led company expeditions to 47 countries last year at the height of the Covid-19 pandemic, securing agreements to develop about 300GW of renewable energy sources, such as hydro-electric and wind power, to produce green hydrogen. Australia has about 70GW of gridconnected power.

He has vowed to “aggressively pursue projects across Australia and develop renewable energy at an unprecedented scale”.

Fortescue Future Industries was allocated $US1bn ($A1.38bn) in the 2020-21 financial year and spent $US122m ($A168m). Between $US400m ($A552m) and $US600m ($A829m) is planned to be spent this financial year.