Australian iron ore billionaire Andrew Forrest has announced a $9.2 billion (US$6.1 billion) plan to “eliminate” his mining empire’s “fossil fuel risk profile.”
Forrest announced his company’s “decarbonisation strategy” during a CEO roundtable on “Business leadership to rescue the Sustainable Development Goals” in New York City.
The event was part of U.S. President Joe Biden’s First Movers Coalition, which was also attended by the secretary-general of the United Nations.
Decarbonisation is understood as reducing or stopping the emission of carbon gases, especially carbon dioxide (CO2).
Under the plan, Fortescue Metals Group aims to remove three million tonnes of CO2 emissions per year, according to its press release on Sept. 20….