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And then every once in a while someone steps up - Fortescue Mining takes a stand [1]

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Date: 2024-10-02  

In one of those “am I really reading this”, CNBC has an article on Fortescue Mining, the fourth largest iron mining company in the world (#10 overall in mining), here. And it takes a massive turn right in the beginning. The headline is:

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

And I was sure what was coming — “we can’t do it”, “climate change is a hoax”, and “we need fossil fuels”. So, I damn near did a spit take with my coffee when the first paragraph was:

Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says it is time for the world to walk away from the “proven fantasy” of net zero emissions by 2050 and to embrace “real zero” by 2040 instead.

Head snap — WTF? Did he really say that? It gets better:

“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.

Oh, snap — I like this guy. Now, I don’t know anything about him and he may, for all I know, be talking out both sides of his mouth but I hold out hope.

The “real zero” he talks about is setting a goal by 2040 of having annual carbon removals equal 100% of annual carbon emissions by 2040. That means no increase of CO2 in the air after that date — at least it stops the bleeding.

We need to do more but hitting his 2040 target is better than anyone thinks we will achieve from current commitments. He appears to be committing to burning no fossil fuels by 2040 and possibly sooner.

This is at least more concrete and responsive commitment language. Let’s see if it plays out in reality and can drag others along.

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[1] Url: https://www.dailykos.com/stories/2024/10/2/2274221/-And-then-every-once-in-a-while-someone-steps-up-Fortescue-Mining-takes-a-stand?pm_campaign=front_page&pm_source=trending&pm_medium=web

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