Dr Andrew Forrest AO - Statement on Australia's 2035 emissions target

At a time when some nations are stepping back from their commitments, Australia has chosen a different path – setting a 2035 target that builds upon, and reaches beyond, the ambition of 2030. 

For this, the government deserves commendation. It has shown the courage of leadership. Yet let me be clear: the upper range of its target – 70 per cent – must be a floor, not a ceiling. 

A cut of at least 75 per cent is what is needed for Australia to pursue emissions reductions in line with the science. This remains the only course that can avert the accelerating impacts of a world warmed beyond 1.5°C.

A 62 per cent to 70 per cent range is a step forward, but it sends a signal that we are comfortable with the status quo. Australia is capable of much more and the world is watching.

Australia has the opportunity to lead the green industrial revolution. But to seize that future, we must set ambitions that match our potential. 

The duty now falls to industry to make this target not the ceiling of our ambition, but the floor upon which Australia’s climate leadership is built. Every delay means higher climate damages, lost opportunities and a weaker economy. 

This isn’t just about emissions. It’s about jobs, growth, and security. 

Australia must now be a major part of the solution – and Fortescue, along with Squadron Energy, is leading the way.