Fortescue Future Industries executive has cautioned that Australia’s promise to net-zero emissions by 2050 is “insufficient” to support the country’s burgeoning renewable hydrogen sector – or to avoid disastrous climate change.
Felicity Underhill, FFI’s director of East Australia and NZ Aotearoa, said it was “refreshing” to have a prime minister who spoke about “renewable and green hydrogen, rather than simply ‘clean’,” during the Australian Energy Week.
Underhill, on the other hand, is skeptical that there is political consensus, across parties or even inside the Albanese administration, that Australia is serious about reaching net zero by 2050.
“More significantly, I don’t believe that 50 net-zero by 2050 is good enough,” she continued.
During a panel discussion at the AEW Hydrogen stream, Underhill informed the audience, “It’s not going to bring us to where we truly need to go.”
“I’m doing everything I can… to ensure we’ll have enough green hydrogen, but I’m also looking for an apocalypse-ready home where I can hide as the… sea levels rise.”
“As a result, we need to do more.” And I don’t believe it has anything to do with present banking regulations. They aren’t sufficient to bring us there.”
According to FFI’s NSW director Joshua Moran, this aim will necessitate 150GW of hydrogen electrolyzers and 450GW of renewable capacity, such as wind and solar.
As a result, it’s not unexpected that FFI would want to see more ambition and a harsher position on fossil fuels from Australia’s senior policymakers.
