Fortescue launches the Positive Power Plan at APEC

Fortescue has today announced the launch of the Positive Power Plan (the Plan) at the 2023 Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco.   

The Plan has been developed by Fortescue due to the scientific proof it established in a recently completed global research and lecture tour that escalating atmospheric heat is accelerating global humidity levels to a level that can be lethal. In response, Fortescue and Minderoo have convened the Lethal Humidity Global Council of scientists from institutions as diverse as Oxford, Cambridge, NASA, MIT, Harvard, Tsinghua University, Peking University, CSIRO, Sydney University, Melbourne University, and IIT Delhi. The scientists collectively warned that Lethal Humidity, currently responsible for thousands of deaths worldwide, if left unchecked could be responsible for millions.

 The Plan is a practical response devised in consultation with global business and scientists for leaders to replace fossil fuel with green energy in a seamless, fair transition.

 Launching the Plan at Australia House at APEC, Fortescue Chairman, Dr Andrew Forrest AO, said ‘The APEC economies shape the global trading environment. Their actions directly influence the world’s emissions trajectory and its escape or otherwise from the climate crisis.

 “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.

 “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. 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. 

“The official launch of the Plan at Australia House recognises the enormous potential that Australia has as a renewable energy superpower. It is an opportunity to showcase the steps the Australian Government is taking to match policy settings to risk, including through initiatives such as Hydrogen Headstart and the Safeguard mechanism.”   

Originally proposed by Fortescue, the Plan has been informed and supported by the Lethal Humidity Global Council, the Green Hydrogen Organisation and Futerra, as well as global climate policy leaders including Julia Soulder, Chair of the Global Renewables Alliance (GRA).  

The plan outlines the practical steps policymakers can take to prevent the catastrophic impacts of rising global temperatures through dismantling cost distortions in energy markets and outlining how industry can be best supported to go green. 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.

Dr Shanta Barley, Chief Climate Scientist at Fortescue, said ‘For every degree our planet warms, global humidity rises approximately 7 per cent, and we have already seen a significant rise in humidity levels since the 1850s. If we can’t cool ourselves, our internal body temperatures can quickly rise to a level that is deadly. Now, more than ever, policy makers must show leadership and accelerate action on the climate crisis.’

The Positive Power campaign website and social media channels have launched and already received more than 73 million impressions globally.  

To sign up to the Positive Power Plan and make your voice heard, visit:

www.wearepositivepower.com

For more information about the Lethal Humidity Global Council visit www.lethalhumidity.org

To view the Positive Power social pages, visit:

Instagram: www.instagram.com/wearepositivepower

TikTok: www.tiktok.com/@wearepositivepower

YouTube: www.youtube.com/@wearepositivepower

The Positive Power Plan Asks

1. Achieve real emissions reductions through deployment of renewable energy, and not by relying on carbon offsets.
2. Take down barriers to green energy manufacturing, including by winding back fossil fuel subsidies over this decade to zero.
3. Match policy settings to risk by transparently pricing carbon across all jurisdictions, and accordingly set appropriate incentives for green energy and disincentives for fossil fuels.
4. Implement country-appropriate incentive schemes for green energy projects, following the example of frameworks like the Inflation Reduction Act (US).
5. Implement sovereign and multilateral government guarantees for green energy projects, in particular, green electricity, green hydrogen, green ammonia, with an early focus on Latin America and Africa.
6. Commit to free green trade by disassembling tariff and non-tariff barriers to trade in green technologies, fuels and commodities.
7. Enhance enforcement of existing environmental laws and acknowledge the growth of international case law establishing a right for future generations to be protected from climate change by policymakers.