Fortescue has announced the launch of its positive power plan at the 2023 Asia-Pacific economic cooperation (APEC) summit in San Francisco.
The plan has been developed by Fortescue in response to concerns escalating atmospheric heat could accelerate global humidity levels past a survivable threshold.
The plan aims to be a practical response devised in consultation with global business and scientists for leaders to replace fossil fuels with green energy in a seamless, fair transition.
“The APEC economies shape the global trading environment,” Fortescue chairman Andrew Forrest said.
“Their actions directly influence the world’s emissions trajectory and its escape or otherwise from the climate crisis.”
The plan outlines practical steps policymakers can take such as dismantling cost distortions in energy markets and outlining how industry can best be supported to go green.
“The plan is a significant suite of initiatives to slow and eventually stop global warming in order to protect mammalian species from heat/humidity levels that extend beyond the limits of human survival,” Forrest said.
“This APEC is a major opportunity for global business to pursue green energy and decarbonisation in what will be seen as a massive economic accelerator for nation’s who are building higher standards of living, employment and economic growth.”
Spanning fiscal, carbon and trade policy, the positive power plan is designed to incentivise the swift and efficient creation of green energy supply chains and ecosystems to enable a permanent move away from fossil fuels.
“Fortescue is committed to being a major green energy contributor in the United States in light of the substantial opportunities presented by the Inflation Reduction Act,” Forrest said.
“The official launch of the plan at Australia House recognises the enormous potential that Australia has as a renewable energy superpower.”