Exciting times we have this new Economy Climate Technology Coalition being
announced today. Talk us through what it hopes to
achieve. I mean, have some concrete steps.
Well, look, it's another real power. We're going to kind of pivot from these
kind of fancy almost greenwashing words like sustainability, like ESG.
We've actually got to move beyond fossil fuels.
We actually don't need fossil fuels. The technology is there.
This wonderful initiative by Bloomberg to pull what global tech and other
leadership talent from around the world. Representative for what?
They're really good at the geographical spread to bring us all in together to
say right, the technologies which do exist can send the world green in the
majority. The technologies which certainly we all
know about. I know about which are in the ramp up
stage, in the commercialization stage, that can probably do another 20, 25
percent. So you've only got that tail.
What it says to us, Haslinda Amin, that chief executives and chairman's no
longer have an excuse not to step beyond fossil fuel.
My call to Bloomberg to you is to say let's hold chairman's to account.
Let's hold chairmen to remuneration committees to account to allocate the
top incentive to step in your company beyond fossil fuel because you can save
money, do it profitably. And of course, I and Andrew, we hear you
pivot away from fossil fuels needs to be accelerated, that pivot to renewables to
20 years. How quickly can this happen if we
realistically Haslinda Amin? It can happen fast.
It really has to happen fast. We've seen 2015 in the climate side come
straight back to 2025. We've had this massive warning in
atmospheric year 2020 to five with the biggest drying events across the world
from China to North America to Europe. These aren't one in 10 years or one in
100 years. These are once ever all in the same
atmospheric year. Climate is at the front of the boardroom
table now. We have to pivot.
We have the technology. Mr.
Chairman, Miss or Mrs. Head of the Remuneration Committee, if
you don't know the answers, ask your workforce.
Do you want to? And then how?
Yet the world has fallen short of those targets set at CAC.
Twenty six coming off CAC 27. How encouraged are you?
I'm disappointed you cop 27 was sombre. From from having some happy climate.
The climate deniers to happy greenwash is happy oil and gas and banking
companies all saying yeah, we're doing a little bit called public relations, but
not much else by COP 27 when we'd seen the massive drying events taking place
around the world. When we have seen how this body
dictators will use fossil fuels for political economic ends, how we've seen
fossil fuels get fully outed. The more you use it more expensive it
becomes, the higher the cost of living is in the lower the standard of living
is. That's now out.
Everyone understands that. And the other energy, which is way more
real, which is a thousand Xin power. We're just being too lazy to adopt.
The more you use that green energy, the more the cost falls, the higher your
standard of living rises. You're pushing for green hydrogen
projects, huge deals. Is capital coming your way?
Given how uncertain the economic environment is right now, yes, we have a
lineup of capital. What we don't have and what we moved
years on and the first mover in is global scale green Haidi Lun projects,
which can begin to replace that transportable or that chemical part of
the fossil fuel sector, which electrons can never replace.
Certainly we use electrons because they're such a cheap shot.
We should get straight in their last cost of energy in history, but from
there we also must convert them like the fossil fuel sector does to molecules
which we can transport. That's great.
And all its derivative Swiss demand coming down.
Demand is everywhere. Oh my God.
I had difficulty where I had my German customers say I'm worried about the
Haidi Lun ships going past Asia because I might get hijacked.
There is demand everywhere. Now.
Yes, very strong demand. South Korea, very strong demand.
Japan, you've got really solid demand emerging in Australia.
Let's talk about that. But the biggest demand, of course, is
from long term dear friends in Germany. We have an agreement with Germany with
their major utility, E.ON, to supply 10 per cent of Germany's power requirements
in green Haidi Lun. We're working feverishly to make sure we
do that. But isn't it true that is still not yet
cost effective to move green hydrogen? Areas, how are you looking for love from
old academic papers, people who look at the Rear Vision mirror?
You might say it's true. That's not true.
It feels right here today if you're looking at research, which has been
done. If you know that you can ship hydrogen
happily in a boat, you can ship hydrogen happily as synthetic methane and carbon
dioxide to it. You just use the same LNG tankers we
currently use. Wolf, you said Haidi Lun around the
world. You strip off the carbon dioxide.
Take the Haidi Lun. Send a ship back.
Right. So carbon dioxide becomes a carrier and
it's just a literal synthetic methane. So there's all these solutions out
there. If we refuse to look for them, if we
clutch for excuses, not livelihoods, then we can say our hydrogen is too
high. But actually, you're just being bone
lazy for vested interest. You choose.
All right. Take a look at the macro picture.
Inflation is still front and center. And some say that as we move to green
energy, that will send inflation even higher.
Who says that? I mean, obviously, I'm not an economist.
Obviously not a business person or an investor.
I mean, oh, my God. The last time I checked, if you bring it
a lower cost of something and the more it gets used, the more funded and lower
cost it becomes again, then that's going to be anti inflationary.
That's going to raise the standard of living of everybody.
So the only physical field is right now the fossil fuel, if it is, destroy the
future of not only our economy, our livelihoods, our standard of living, but
also the kids. So it's a complete furphy.
It's an absolute greenwash that everyone says, oh, my God, we've under invested
in fossil fuels. No, you have it.
You have country invested in energy. And that energy is should be the
cheapest. The most abundant is, of course,
renewable. Just saying we funded invest in fossil
fuels. That is a greenwash from the fossil fuel
sector and completely wrong. We have under invested in energy the
right type of energy which can set standards of living up and operating
cost of living down. And that's renewable.
Way on the inflation debate. Has it peaked?
What are you expecting inflation to be in 2023?
Higher? Yeah.
I don't think inflation has yet peak because we have savagely under invested
in the cheapest form of energy, which becomes more abundant and less
expensive. More you use it.
We're paying a real price now for under investing in energy.
If any market analyst says I'll be under invest in fossil fuels, that's because
they're Groundhog Day just doing the same thing they've done every day.
So yes, inflation will suffer further until the world moves sharply to
lowering the cost of energy dramatically.
Not with taxpayers money just making fossil fuel even less competitive, but
we're investing in renewable energy where we should have gone 10 years ago,
where we must have gone five years ago. And if we don't do it now, serious
vested interests, bigger than the kids or downright laziness.
Will there be a recession in the US? Will there be a global recession in
2023? Look, I think we might scrape through
without it, but we will if whatever happens from here, the illegal, unjust,
cruel invasion of Ukraine is demonstrated to the world once and for
all. And at last that fossil fuel is the
world's most expensive, unreliable energy there is.
And we've just got to call it into the dustbin of history and move on from it.
I do say net zero is going to come a bit like ESG or sustainability or the words
going greener or whatever that means. You know, we should be moving a Hendra
virus. We have to live that.