<
https://reneweconomy.com.au/fortescue-accelerates-real-zero-campaign-amid-grim-times-for-climate-action/>
"Tech superstar Canva has signed on to iron ore miner Fortescue Metals’ real
zero campaign calling for the Australian government to “abandon the net zero
smokescreen”.
The iron ore miner published an open letter in newspapers around the country,
signed by 44 business people, philanthropists and activists, calling for the
Australia government to replace net zero targets with a hard end date for
fossil fuel use.
The campaign asks for an end to fossil fuel subsidies, an immediate halt to new
gas and coal project approvals, and policies that help rather than hinder
decarbonisation such as incentivising renewable energy adoption and investing
in electrification.
Real zero is the complete removal of fossil fuels from a supply chain —
Fortescue has a goal of hitting real zero for scope 1 and scope 2 emissions by
2030 at its Pilbara iron ore operations, which means no burning of gas or
diesel for electricity or land transport and machinery.
Net zero is where emissions are allowed but supposed to be balanced out
elsewhere by using offsets, themselves a potential risk given the frequency
that even state carbon credit programs are accused of fraud, such as
Australia’s ACCU scheme in 2022 or the scandals around the Kyoto-era Redd
schemes.
Advocates of full decarbonisation argue that net zero is a waste of time and
money given emissions are still created and must be paid for elsewhere.
Some believe there are signs that parts of corporate Australia are beginning to
understand that real decarbonisation is more cost effective than paying for
offsets.
“Offsets now pose an unacceptable risk to businesses, and the only way to
decarbonise is to reduce emissions,” Fortescue’s chief climate scientist Shanta
Barley told
Renew Economy.
Following reports that more than 100 companies have quit the federal voluntary
carbon credit market over integrity concerns, Barley says businesses are
listening to the research showing offsets aren’t working, such as the
increasingly maligned Human Induced Regeneration (HIR) schemes, and don’t want
to be exposed to the risk.
“I think what’s happening is a natural progression [of what] we’ve seen that in
every single country that has a cap and trade market. Look at the EU, China,
California, all of them have set limits on offset use and that is because of
the research that says if you rely fully on them, you will never fully
decarbonise,” she says.
“The question is for these businesses is what comes after pulling out of
offsets.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
