Can renewable energy turn Australia into a global superpower? | 60 Minutes Australia

Summary

Australian billionaires Andrew 'Twiggy' Forrest and Mike Cannon-Brookes are leading a green energy revolution, investing billions in renewable technologies to replace fossil fuels. They envision Australia becoming a 'green energy superpower,' with cheap, clean energy produced from solar, wind, and hydrogen. Despite government resistance, they're committed to transforming the nation's energy landscape for economic and environmental benefits.

Takeaways

• 💰 Australia's two richest men, mining magnate Andrew 'Twiggy' Forrest and tech entrepreneur Mike Cannon-Brooks, are investing in renewable energy technologies aiming to make a profit while combating climate change.
• 🌿 They believe that renewable energy sources like wind, solar, and hydrogen can produce all the energy the world needs and are economically viable, positioning Australia to become a green energy superpower.
• 🔄 Forrest is particularly focused on green hydrogen, aiming to make his iron ore business carbon neutral and export this technology globally, emphasizing that hydrogen can be both environmentally friendly and profitable.
• 🚀 Cannon-Brooks is involved in the 'Sun Cable' project, which plans to export solar energy from the Northern Territory to Singapore via a massive undersea cable, showcasing Australia's potential as a renewable energy exporter.
• 💡 Both businessmen are self-funding their ventures into renewable energy, investing billions of dollars to develop technologies to replace fossil fuels, demonstrating a shift from philanthropy to profit-driven climate solutions.
• 🛑 Despite the potential economic benefits, there is a lack of government support for these initiatives, with the federal government being described as obstructionist to the rapid transition to renewable energy.
• 🗳️ The script highlights a recent failed takeover bid by Cannon-Brooks to transform Australia's largest emitter of greenhouse gases, AGL, into a green energy hub, which was rejected without being presented to shareholders.
• 🌍 The potential for Australia to lead a 'renewables revolution' is significant, but there is a fear that without strong government support and policy changes, the country may miss its opportunity to be a global leader in clean energy.
• 📉 The closure of traditional coal-fired power stations like Liddell signifies the end of an era and the beginning of a transition to more efficient and cleaner energy sources, presenting both challenges and opportunities.
• 🌞 Australia has abundant natural resources that could make it a leader in renewable energy production, with the potential to supply not only its own needs but also become a major exporter of clean energy.
• 💼 The narrative from these billionaires emphasizes that the transition to green energy is not just an environmental imperative but also a significant economic opportunity that can create jobs and drive innovation.

Q & A

What are Andrew 'Twiggy' Forrest and Mike Cannon-Brookes' views on renewable energy and its economic potential?

Andrew 'Twiggy' Forrest and Mike Cannon-Brookes believe that renewable energy, such as wind, solar, and hydrogen, can produce all the energy the world needs without being cost-prohibitive. They see it as an opportunity for Australia to become a green energy superpower, with the potential to reduce prices and save the planet from climate change.

What is the 'Sun Cable' project, and how does it aim to utilize Australia's renewable resources?

The 'Sun Cable' project is an ambitious plan to connect the Northern Territory of Australia to Asia via a mammoth undersea high voltage DC cable. It intends to harness the power of the world's largest solar farm in the Northern Territory, transmitting renewable energy to Singapore, thereby providing a significant portion of Singapore's energy needs from Australian sunshine.

How does Andrew 'Twiggy' Forrest plan to transform his iron ore business to be carbon neutral?

Twiggy Forrest plans to make his iron ore business, which emits 2.2 million tons of carbon dioxide annually, 100% green by fine-tuning green hydrogen—a fuel with zero emissions. He aims to power his mining operations and eventually all of Australia with this clean energy source.

What is Mike Cannon-Brookes' vision for increasing the percentage of electricity from renewable sources in Australia?

Mike Cannon-Brookes envisions increasing the percentage of Australia's electricity from renewable sources, such as sun, wind, and hydro, from the current average of 30% to 100% and beyond. He believes that with the right technology and investment, Australia can achieve the cheapest price of power on the planet.

What was the outcome of Mike Cannon-Brookes' takeover bid for AGL, and why was it rejected?

Mike Cannon-Brookes' takeover bid for AGL, Australia's biggest emitter of greenhouse gases, was rejected without being taken to the shareholders. The bid promised to close AGL's three existing coal-fired power plants 15 years sooner than scheduled and transition the site into a green energy hub, but it failed in part due to a lack of government support.

What is the significance of the world's largest electrolyzer facility that Twiggy Forrest and his wife Nicola are developing?

The world's largest electrolyzer facility, being developed by Twiggy Forrest and his wife Nicola, is significant because it represents a major investment in green technology. The facility, powered by solar and wind, will produce hydrogen with no emissions, contributing to the goal of decarbonizing industry and energy production.

What is the role of government policy and business courage in the transition to renewable energy according to the script?

According to the script, government policy and business courage are crucial for the transition to renewable energy. They are identified as the main obstacles standing between Australia and its potential future as a leader in renewable energy. The script suggests that both liberal and labor parties need to support this transition for the economic and environmental benefits it could bring.

How does the script describe the potential economic opportunity of renewable energy for Australia?

The script describes the potential economic opportunity of renewable energy for Australia as immense, suggesting that it could become the largest exporter of energy and a 'renewable energy superpower'. It implies that this transition could lead to significant economic growth and job creation.

What is the current state of coal-fired power stations in Australia, and what does the future hold for them?

The script indicates that Australia, like much of the world, has promised to reach net-zero greenhouse gas emissions by 2050, which implies a significant reduction in the use of coal-fired power stations. More than a third of these stations have already shut down, and the remaining ones are fast approaching the end of their life, being outdated by more efficient and cleaner plants.

What is the role of hydrogen as a clean energy source according to Andrew 'Twiggy' Forrest?

According to Andrew 'Twiggy' Forrest, hydrogen plays a crucial role as a clean energy source. He believes that green hydrogen, produced with zero emissions, can power not only his mining operations but also the entire country in the future. He sees hydrogen as a fuel that can replace fossil fuels and contribute significantly to reducing carbon emissions.

Outlines

00:00

🌿 Green Energy Revolution by Billionaires

Australian billionaires Andrew 'Twiggy' Forrest and Mike Cannon-Brooks are leading a green energy revolution, aiming to transform the country into a renewable energy superpower. They believe in the potential of technology to produce energy from renewable sources economically and are investing their own money to develop technologies that replace fossil fuels. Forrest is focusing on green hydrogen, aiming to make his iron ore business carbon-neutral, while Cannon-Brooks is involved in large-scale renewable projects, such as the Sun Cable linking solar energy from Australia to Asia.

05:01

💰 Profit and Planet: The Economic Opportunity of Green Energy

Both Forrest and Cannon-Brooks emphasize that the transition to green energy is not just environmentally beneficial but also a massive economic opportunity. They argue that renewable energy can be cheaper for consumers and more profitable for businesses. Forrest is investing in green hydrogen production, aiming to export it and make Australia a leader in this sector. Cannon-Brooks is involved in projects that utilize Australia's abundant sunshine and wind to produce cheap, clean energy for export, showcasing the potential for Australia to become an energy exporter and a leader in the renewable energy market.

10:03

🔋 The Future of Energy: Green Hydrogen and Renewable Integration

The script discusses the potential of green hydrogen as a clean fuel source with zero emissions, which Forrest is championing. He is investing heavily in the development of electrolyzer facilities to produce hydrogen from renewable energy sources. The goal is to demonstrate that green energy can be both profitable and sustainable, replacing traditional fossil fuels and reducing carbon emissions. The narrative also touches on the current state of renewable energy integration in Australia's energy grid and the challenges faced in increasing this integration to 100%.

15:04

🛑 Overcoming Obstacles: The Struggle for a Green Transition

Despite the billionaires' efforts, there are significant obstacles to the green energy transition in Australia. Cannon-Brooks' takeover bid for AGL, one of the country's largest emitters of greenhouse gases, was rejected, highlighting the lack of government support for rapid change in the energy sector. The narrative explores the tension between business interests and government policy, with the government appearing to prioritize stability in the electricity supply over rapid decarbonization.

20:05

🌐 Global Impact: The Broader Vision for a Sustainable Future

The final paragraph touches on the broader vision of a sustainable future, where the transition to green energy is not only beneficial for Australia but also has global implications. It discusses the potential for Australia to become a leader in the renewable energy sector, influencing other countries to follow suit. The script also highlights the personal motivations of the billionaires involved, emphasizing their commitment to making a profit while also addressing environmental challenges and the need for industry to take the lead in combating climate change.

Keywords

💡Renewable Energy

Renewable energy refers to power sources that are naturally replenished on a human timescale, such as wind, solar, and hydro power. In the video, renewable energy is central to the vision of transforming Australia into a 'green energy superpower.' The script discusses how technology now allows for the production of all the world's energy needs from renewable sources, suggesting a shift away from traditional fossil fuels towards cleaner, more sustainable options.

💡Green Hydrogen

Green hydrogen is hydrogen produced using renewable energy sources, specifically through the electrolysis of water using solar or wind power. The video highlights Andrew 'Twiggy' Forrest's investment in green hydrogen as a zero-emission fuel, aiming to power not just his mining operations but potentially the entire country. It's presented as a key technology in the transition to a clean energy economy.

💡Climate Change

Climate change is a long-term shift in global or regional climate patterns. The video underscores the urgency of addressing climate change by transitioning to renewable energy sources. It mentions the potential for Australia to become a leader in the renewable energy sector, thereby contributing to global efforts to mitigate the effects of climate change.

💡Emissions

Emissions refer to the release of pollutants or greenhouse gases into the atmosphere. The script discusses the goal of reducing emissions, particularly carbon dioxide, by shifting from fossil fuels to renewable energy sources. It mentions the potential for green hydrogen to cover 100% of the world's carbon emissions, indicating a significant reduction in environmental impact.

💡Fossil Fuels

Fossil fuels are hydrocarbons such as coal, oil, and natural gas, formed from the remains of ancient organisms. The video script contrasts the use of fossil fuels with renewable energy, advocating for a move away from these non-renewable resources that contribute to greenhouse gas emissions. It positions fossil fuels as part of the problem that needs to be addressed in the transition to a green energy economy.

💡Energy Superpower

An energy superpower is a nation that has a significant influence on the global energy market, often due to its production and export of energy resources. The video suggests that Australia, with its abundant renewable resources, could become a 'green energy superpower,' leading the way in the production and export of renewable energy.

💡Investment

Investment in the context of the video refers to the financial backing provided by billionaires like Andrew Forrest and Mike Cannon-Brookes to develop renewable energy technologies. Their investments are aimed at making renewable energy projects economically viable and profitable, thereby driving the transition from fossil fuels to clean energy.

💡Technology

Technology in this video is the array of innovations and tools used to harness and utilize renewable energy. It includes the development of green hydrogen, solar farms, and undersea cables for energy transmission. The script emphasizes that the technology is available and economically sensible, making the shift to renewable energy not just environmentally beneficial but also a sound business decision.

💡Economic Opportunity

Economic opportunity in the video refers to the potential for financial gain and job creation through the development and implementation of renewable energy technologies. It suggests that the transition to a green energy economy could lead to significant economic growth, positioning Australia as a major player in the global renewable energy market.

💡Government Policy

Government policy is discussed in the context of its influence on the adoption of renewable energy. The video points out the need for supportive policies to facilitate the transition to a green energy economy. It highlights instances where government decisions have either supported or hindered the progress of renewable energy projects, emphasizing the role of policy in shaping the energy future.

💡Net Zero Emissions

Net zero emissions mean balancing emissions of greenhouse gases with an equivalent amount of removals, effectively neutralizing the overall impact on the atmosphere. The video mentions Australia's commitment to reach net zero by 2050, indicating a shift from coal-fired power stations to cleaner energy sources as part of the global effort to combat climate change.

Highlights

Mining magnate Andrew 'Twiggy' Forrest and tech entrepreneur Mike Cannon-Brookes are leading the charge in renewable energy, aiming to transform Australia into a green energy superpower.

They believe that technology now allows for the production of all the world's energy needs from renewable sources such as wind, solar, and hydrogen, at a cost-effective price.

Forrest and Cannon-Brookes are investing billions of dollars of their own money to develop technologies that replace fossil fuels with renewable energy sources.

Andrew Forrest is committed to making his iron ore business, which emits 2.2 million tons of carbon dioxide annually, 100% green through green hydrogen.

Green hydrogen is a fuel with zero emissions, which Forrest aims to use not only for his mining operations but potentially for the entire country.

Mike Cannon-Brookes is involved in the Sun Cable project, which plans to send renewable energy from the Australian outback to Singapore via an undersea cable.

The Sun Cable project aims to provide 20% of Singapore's energy needs entirely from renewable sources by 2030.

Cannon-Brookes has faced challenges in his attempts to buy and transform old, dirty technology into clean energy due to lack of government support.

Australia has the potential to increase its current 30% renewable energy share to 100% and beyond, according to Cannon-Brookes.

The country has set a goal to reach net-zero greenhouse gas emissions by 2050, which includes phasing out aging coal-fired power stations.

Cannon-Brookes made a takeover bid for AGL, Australia's biggest emitter of greenhouse gases, with a plan to close its coal-fired power plants 15 years earlier than scheduled.

The bid was rejected by AGL without being presented to its shareholders, partly due to a lack of government support.

Andrew Forrest is building the world's largest electrolyzer facility in Gladstone, Queensland, to produce green hydrogen from solar and wind power.

Forrest's investment of three billion dollars aims to demonstrate that heavy industry can transition to renewable energy profitably.

Both Forrest and Cannon-Brookes emphasize that the transition to renewable energy must be economically viable and sustainable.

The Australian government's stance on the energy transition has been criticized for being obstructionist by the billionaires leading the renewable charge.

The energy transition presents a significant economic opportunity for Australia, potentially making it the largest exporter of renewable energy.

The billionaires argue that the focus should be on utilizing technology to build a clean industrial future for the country.

Despite setbacks, Forrest and Cannon-Brookes remain committed to proving that renewable energy can be both environmentally friendly and economically beneficial.

Transcripts

not only are mining magnate andrew

twiggy forest and techwiz mike cannon

brooks australia's two richest men the

multi-billionaires also claim to be

alchemists

they boast they can turn green into gold

that the technology is now available to

produce all the energy the world needs

from renewable sources like wind solar

and even hydrogen

what's more it's not cost prohibitive it

makes economic sense

and with the greatest supply of these

resources on the planet forest and canon

brooks reckon instead of australia being

a climate villain

very soon will be a green energy

superpower

prices will fall and the planet will be

saved from burning to a crisp

[Music]

billionaires iron ore magnate andrew

twiggy forest and tech wizard mike

cannon brooks are in the business of

making money and sometimes making a

difference

right now their focus is on making bows

it's certainly beautiful i can see why

you want to save the planet

it goes against everything we've heard

but they believe fortunes will be made

by wiping out fossil fuels heralding the

dawn of a new golden age in australia to

describe you as a green mining magnet

is that an oxymoron

there's nothing wrong with mining it's

essential everything around us is made

from steel and

other metals what we have to do is turn

mining green

people don't believe that we can have

cleaner energy

they can also be cheaper for customers

and that people could make money doing

this

that is literally what we are proposing

to do

you think we're going to fail let us

have a go we won't fail we can do this

[Music]

with renewables becoming ever cheaper

it's now profits not philanthropy

driving realistic and reasonable

solutions to climate change

and it's big business not government

prepared to pay for it

this is coal don't be afraid don't be

scared

the treasurer knows the rule on props

it's coal

but with our government seemingly stuck

on coal tony wood from melbourne's

gratton institute says the fear is we

will lose our chance to lead the world

into a renewables revolution

this is the biggest

transition

that our economy will see outside

wartime and

we're not doing it very well at the

moment there's no word for polophobia

officially mr speaker but that's the

malady that afflicts those opposite how

would you rate the australian federal

government

oh on this issue on a show just before

an election

what a thankless question well um you're

in the big game now yeah we're in the

big game now um

look my views are public and on the

record

both liberal and labor

really need to pull their socks up

because there is a huge future for every

australian

if we grasp that korean energy future

and what's standing between ourselves

and that future is not sun it's not wind

it's not technology it's government

policy and business courage

and i'm saying to both liberal and labor

do your bit

and business

we will be assured come straight away

together and apart these titans of

business are spending billions of their

own money to develop their own

technologies to replace fossil fuels

like coal and oil

instead they see australia as the

potential top consumer and exporter of

cheap renewables harnessing wind and

solar on a scale never done before

as well as developing a zero emission

fuel

we ran a massive scientific analysis

over the world to see if there was

actually enough energy and we have

concluded

yes there's enough green energy in the

world to never have to

burn another drop or another pound of

coal or oil where is that green energy

well just a small percentage of

australia can completely power the world

tara

[Music]

twiggy has vowed to turn his iron ore

business which emits 2.2 million tons of

carbon dioxide a year 100 green

to make this extraordinary

transformation twiggy has spent the last

decade fine-tuning green hydrogen a fuel

with zero emissions

not just to power his mining operations

but one day soon all of australia

i wake up to newspaper articles

explaining to me in literary detail what

an idiot i am

twiggy is certain hydrogen will win over

supporters not because it's green but

because it's cheap and has huge earning

capacity in exports

you are a force of nature

but is that enough

um it's certainly not enough no i'm but

one

one one person someone

has to be the mug

with the arrows in the back going first

no longer is there an excuse that yeah

we'd really love to use green hydrogen

but we have to use fossil fuel all we

have but he's happy to lead the way

because he believes this green gas will

save the planet and green hydrogen can

cover 100

of the world's carbon emissions is there

irony to the fact that it's your metals

mining that's funding your green arm

look i really don't think so the fact

you've got a metals and mining business

which has a carbon footprint that

through its very example it can

eliminate

and it can fund this the most aggressive

adventure into technology and new

projects the great hydrogen the world

has ever seen and be first both of those

i don't think it's an irony i think it's

an obligation

is it an obligation you can meet are you

certain that the dream

that you believe in is achievable

yes

it's no longer a dream or a vision tara

it's a strategy

the right decision is to invest in green

energy and green hydrogen because

twiggy's strategy will see 15 million

tons of green hydrogen produced a year

by 2030. he's already trialling the

technology in his heavy haulage trucks

and his export ships where his

industrial emissions are highest

we've got our first truck rolling with

zero pollution our first train rolling

with zero pollution and our first ship

engine rolling with zero pollution are

they yet able to work at capacity at the

capacity that you need them to tara we

are we are breaking the ground we are

proving about this proof of concept

world first and everything i'm saying

and of course what what you're saying

tara is the creation of history

and when it comes to powering our homes

that history says twiggy will be

affordable

can you say to the people who are

watching you tonight that your power

bills

are not going to be crazy high that you

will get supply on a constant and

regular basis yes

imagine for a moment that

we were completely energy sufficient in

fact

we were exporting heaps of energy and we

were totally green and making all we

needed ourselves

that world is around the corner we have

to grasp it we can be the largest

exporter of energy the renewable energy

superpower it is

the single largest economic opportunity

for australia the single last economic

transition in the world will go through

decarbonizing all of our machines

we have to show people that this is a

way to you know to put their capital to

work

[Music]

in a partnership that includes twiggy

forest mike cannon brooks the co-founder

of software giant atlassian valued at 85

billion dollars is hard at work selling

our unrivaled sunshine to singapore

the ambitious sun cable project will

connect the northern territory to asia

by a mammoth undersea high voltage dc

cable

so we're literally sort of sending

electrons

down a cable from one end to the other

think of it as a giant extension cable

you'd buy from bunnings

it's an extension cable that will travel

more than

000 kilometers linking the world's

largest solar farm in the northern

territory to darwin and then under the

sea to singapore powering up in just

eight years time

and deliver about 20 of singapore's

energy entirely renewably

and reliably from australian sunshine to

right into the heart of singapore

[Music]

but in other projects closer to home

mike's grand vision for a green future

has stumbled his attempts to buy up

dirty old technology to transform into

new clean energy

thwarted by those at the very top

the government's almost saying go away

it was just bizarre

in that bid there was 20 billion dollars

worth of foreign investment offered to

this country there was a promise of

supply to be maintained a promise to

create more jobs why didn't the

government back that

encouragingly right now on average 30

percent of our electricity comes from

sun wind and hydro

but billionaire businessman mike cannon

brooks says that can be increased to 100

and well beyond

we have the sunniest windiest country on

earth with

what should be the cheapest price of

power anywhere on the planet and we can

absolutely get there with technology we

have today

[Music]

australia like much of the world has

promised to reach net zero greenhouse

gas emissions by 2050

that means bye-bye to our ageing

coal-fired power stations

more than a third have already shut down

[Music]

50 years old it's done its duty

agl plant manager lynn mclaughlin is

taking me on a tour of liddell one of

the longest standing coal-fired power

stations in the new south wales hunter

valley

over here you can see that's the

substation

built in the early 70s liddell is

considered a legacy coal-fired power

plant modern for its time but now fast

approaching the end of its life outdated

by more efficient and cleaner plants

while its closure in just a year's time

marks the end of an era it also

signifies a new beginning

one that doesn't involve coal

it's amazing to see such a legacy end

but there's also a bit of excitement

because

the transition actually offers a an

opportunity for us to actually you know

bring about

something new

as well

a huge environmental and economic

opportunity in february mike cannon

brooks made a takeover bid of agl our

biggest emitter of greenhouse gases

promising to close its three existing

coal-fired power plants 15 years sooner

than scheduled

backed by 20 billion dollars of foreign

investment mike planned to transition

this site into a green energy hub

continuing supply and promising to keep

and create jobs

agl has more emissions than the

countries of sweden new zealand or

ireland

it is more than every single car on the

road in australia more than every single

airplane in our skies international or

domestic and we can change it by 2030 in

a meaningful meaningful meaningful way

if we can do that and show its economic

show that there is money to be made in

doing that

then around the globe we'll have 50

copycat projects and that will be

fantastic

agl thought otherwise rejecting the bid

without even taking the offer to its

shareholders

so dead the deal is done it's not going

to happen

put our pens down we put our

offer to the board the board

didn't mean he feel engaged and

said no

[Music]

head of the gratton institute's energy

program tony wood says the bid failed in

part because of a lack of government

support

there's a long way to go on this

ultimately they will not just need to

try to get the board on side but

shareholders it'll need to get a triple

c approvals

this clear lack of endorsement from

federal energy minister angus taylor

you know we shouldn't be jumping the gun

is the failure of the deal a good thing

or a bad thing for australia it was

surprising that a liberal coalition

government would have had someone come

to australia prepared to spend over the

next little while 20 billion dollars

and the government's almost saying go

away it was just bizarre in my in my

view that that was the way this seems to

have played out why make that decision i

think it's fundamentally about we

have a view that we achieved electoral

success by pushing back on

climate change and we're going to keep

doing that why would the government's

response be that we reject the notion of

closing down coal-fired power stations

sooner than scheduled why would that be

the narrative around a bid like that

well we've said consistently we're in

favor of stability in the electricity

supply so that

industry has the electric electricity it

needs at an affordable price so

australians can have jobs

assistant energy minister tim wilson

agreed to be interviewed after his boss

minister angus taylor declined his

offside is claiming he wasn't well

enough briefed to talk on the subject

with the utmost respect to you

why did the minister angus taylor not

front up today

well i can't answer that all i can say

is i'm happy to be here and i'm really

excited to play a critical part of

building australia's clean industrial

future we want to get there through the

utilization of technology and yet the

people you would employ to introduce

that technology big business uh the

people who want to pay for it describe

the government as obstructionist so how

does that work well they're focused very

clearly on their profit maximisation you

don't accept that their focus is also on

saving the environment i accept that

they're absolutely trying to uh be part

of

confronting an environmental challenge

while making a buck they'll always be

billionaires that want to make more

profits funded from your taxes excuse

the pun if you want to call it that but

isn't it a bit rich when you really are

asking them to to to pay for the new

energy landscape in this country well

what we're hoping is that uh those

people who want to invest in building

the future of this country do so with

enthusiasm but we've obviously got to

make sure we take the whole of the

country with us and we're proud to do

that the economics are on our side

clearly frustrated by the lack of

support iron ore magnate andrew twiggy

forest who also happens to have a phd in

marine ecology

doesn't hold back when it comes to the

energy minister angus taylor

what's the difference between angus

taylor and god well god doesn't think

he's angus taylor

and angus taylor was standing in the

road and i hope he's changing now of the

market of climate science

and of course

the fact we must stop this world from

cooking because it is

does angus taylor feel as fondly about

you as you seem to of him angus and i

have a really direct relationship

[Music]

but with support from the queensland

government twiggy with his wife nicola

have broken ground on the world's

largest electrolyzer facility to be

completed next year here in gladstone

[Music]

they've invested three billion dollars

of their own money to develop the

electrolyzers which powered by solar and

wind produces hydrogen and no emissions

our proposal is to

tap the greatest resource in the

universe which is hydrogen

from the greatest resource in the world

which is water split that water with

natural

totally renewable electricity

and create hydrogen

which when burnt releases enormous

amounts of energy

and goes back to water

until now saving the planet hasn't

encouraged big industry but saving and

making money according to twiggy will

industry must do this profit has to be

the motive

unfortunately if you're going to end

something as big as global warming it

has to be sustainable we've looked at

this hell western crocodile from a

philanthropic perspective over 10 years

couldn't touch the sides of it

we needed

to demonstrate it can be done

with huge and heavy industry

and so we've set out to do it

[Music]

i can do technology work environmental

work anything i need to do i can do it

from from here

home in the southern highlands is

stunning but as someone who's made a

fortune out of writing algorithms

there's nothing more beautiful to mike

cannon brooks than the economics of

saving the planet

have you modeled how much money you'll

make out of this i have not i'm sure

it's in a spreadsheet somewhere it would

be nice not to have to care about that

it is no it is it is it doesn't mean

like

it doesn't mean i can't count it doesn't

mean i don't try to do it for the right

reason

i'm lucky enough

to not need to make the money

but i do see the importance of showing

that this is an investable proposition

that this is a profitable enterprise

and it can reduce

people's price of power it can reduce

our emissions clean our world up all

sorts of ways

and make money is there any regret any

shame that drives you today in regards

to looking to replace the fossil fuel

sector with green energy

no i have precisely no shame now if i

did nothing about it

when i knew i could

then i would have shame

and what i'm saying to my fellow

executives it's fair enough you went and

produced your oil your gas you called

your iron et cetera when you had no

choice when you had a gun at your head

to keep doing it

but you don't have a gun now there is a

choice we can change so therefore we

must change

hello i'm tara brown thanks for watching

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