Andrew Forrest and Fortescue’s climate fight makes the cover of Time magazine

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Andrew Forrest and Fortescue’s climate fight makes the cover of Time magazine

WA mining magnate Andrew Forrest now has another feather in his cap after making the cover of Time magazine.

Mr Forrest made his billions from Pilbara iron ore, but for the past few years has been trying to turn his $57 billion Fortescue empire into a beacon for green hydrogen energy that will power a global shift away from fossil fuels.

But the road to cleaner power has been paved in potholes.

Shareholders have grown uneasy — and impatient — with the enormous sums of money so far laid out to achieve ambitious production targets that have been pushed back multiple times and progress on a string of massive proposed green hydrogen hubs around the globe.

Despite the setbacks and a flurry of high profile exits of key Fortescue executives — that once prompted Mr Forrest to warn that staff needed to “get on the bus or get off the bus” in regards to his green energy ambitions — the man better known as Twiggy remains resolute, telling Time in

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published online overnight Wednesday that: “It’s about character. It’s about leadership.”

Mr Forrest told author Justin Worland that it was time for businesses to stop talking about long-term targets and dump the use of fossil fuels in the next few years — not decades.

Camera IconThe Time magazine cover featuring Andrew Forrest. Credit: Time

“If you think you can’t go green, then you’re right,” he said. “It’s time for you to get off the stage and learn from someone with more talent, more conviction, or initiative than you who can lead your company.”

Last September, Fortescue signed a $US2.8 billion ($4.4b) deal with Liebherr to develop a 475-strong fleet of zero emission machines for its vast network of Pilbara mines.

Presenting Fortescue’s half-year results last week, green energy chief Mark Hutchinson assured investors again that the group was still “fully committed” to green energy and hydrogen ambitions, but that rocky government policy had created “uncertainty”.

The company also announced that it was reining in its green energy budget for the financial year from $US500m ($787.3m) to $US400m.

And timelines for a $US550m liquid green hydrogen project in the US and a $150m electrolyser factory in Queensland are now both being “reconsidered” with an update on the projects due by July.

According to the Time article, Mr Forrest knows the stakes are high.

“The dangerous part about what we’re doing is that if we’re not successful, the inspiration for thousands of other companies won’t be there,” he told the magazine.

“And if we lose money on this in the long term, people say, well, that’s philanthropy.”

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