The COVID-19 pandemic and resulting recession have cast a pall over Australia’s economy.
We’re all still searching for a North Star out of the morass, which forced many industries to freeze their operations just to survive, and with thousands of workers losing their jobs or being furloughed almost overnight.
But as we slowly turn towards recovery, businesses are now looking at the decarbonization of our economy as a sustainable path out of the recession.
Sure, it took a pandemic — which meant that businesses needed to look at ways to minimize costs in the long run while finding a path back towards profitability – but decarbonization is firmly on the discussion table at last.
Take Fortescue Metals Group as an example. Its CEO, Andrew ‘Twiggy’ Forrest, has shared his utopian vision in which steel is created not with coal, but hydrogen, which burns cleanly and only emits water.
To me, this is a no brainer. Not only would it bolster our steel industry and create jobs, but it would ensure we take steps towards a net-zero future.