- Andrew Forrest urged the maritime industry to back the IMO’s legally binding net-zero emissions framework, targeting zero emissions by 2050.
- The IMO measures, applying to large ships, include new fuel standards and a global emissions pricing system starting in 2027.
- Forrest highlighted the severe impact of climate change, overfishing, and pollution on oceans and called for urgent industry action.
- He advocated for marine protected areas covering 30% of oceans and the use of green ammonia fuel as a path to sustainable marine operations.
Andrew Forrest, Executive Chairman of Australian mining company Fortescue, has called on the global maritime industry to back the International Maritime Organization’s zero-emission shipping targets for 2050, ahead of a key vote set for October. Speaking at the Nor-Shipping conference in Lillestrom, Norway, Forrest highlighted his commitment to ending fossil fuel reliance and advancing green energy solutions. Fortescue, which he founded in 2003, is one of the world’s largest iron ore producers and is working toward eliminating fossil fuel use in its Australian operations by 2030. Through the Minderoo Foundation, Forrest has also pledged his wealth to address major global challenges, including climate change, modern slavery, and ocean pollution.
Support for IMO’s Net-Zero Shipping Framework
At the Nor-Shipping conference, Andrew Forrest emphasized the urgent environmental challenges facing the world’s oceans, pointing to record-breaking marine heatwaves and their impact on marine life. He described climate change, overfishing, and marine pollution as a triple threat, calling for immediate action from the maritime sector.
The measures, approved by the IMO’s Marine Environment Protection Committee in April 2025, aim to achieve net-zero emissions from ships by around 2050.
They include a new fuel standard and emissions pricing mechanism, set to be formally adopted in October 2025 and enforced starting 2027. The regulations will apply to large ocean-going vessels over 5,000 gross tonnage, which account for the majority of international shipping emissions.
Forrest also highlighted Fortescue’s ongoing collaboration with ports worldwide to implement green and ammonia-based fuels. He called on all nations to vote in favor of the IMO measures and not to support any opposition or abstention.
Addressing Overfishing and Advancing Green Marine Fuels
Andrew Forrest highlighted the urgent challenges facing the fishing industry, warning that it is heading toward a depletion of fish stocks. He explained that rising ocean temperatures reduce oxygen levels as warmer water causes evaporation. Combined with advanced fishing technologies, this is driving fisheries toward collapse.
Forrest proposed establishing marine protected areas (MPAs) covering 30% of the oceans as a solution. He said that “no-take” MPAs, managed responsibly, can significantly restore marine life. According to him, scientific studies show that fish biomass could increase by 50% within five years and by up to 400% in ten years after MPAs are implemented.
Forrest called for global backing of MPAs, emphasizing the role of technology, such as satellites, drones, AI, and older fishing vessels used as patrol boats, to enforce protections effectively.
Additionally, Forrest advocates for green ammonia as a key fuel for zero-emission marine propulsion. Since 2022, Fortescue has been developing dual-fuel engines capable of using green ammonia, which has strong potential to scale as a sustainable marine fuel.
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Source: American Journal of Transportation
