Mining billionaire Andrew Forrest's company, Fortescue, announced a significant shift in strategy by cutting 700 jobs and merging its mining and energy divisions. This move is part of a repositioning to prioritize green hydrogen production as a means to combat climate change. Andrew Forrest, known for advocating green hydrogen as a key solution for reducing emissions, defended the company's focus on this clean fuel despite the high costs associated with its production. The company plans to invest in projects that would enable it to compete with traditional fossil fuels in the energy sector. Fortescue has set ambitious climate goals, including achieving zero net carbon emissions by 2030 and zero Scope 3 emissions by 2040. Amidst the challenges, Fortescue remains committed to green hydrogen, with plans to make investment decisions on multiple projects globally by the end of 2023. The company has already made progress with projects in the United States and Australia, with potential future ventures in Norway and Brazil. The restructure at Fortescue will see the retention of dual CEOs for mining and energy, with a focus on operational efficiency and corporate restructuring to align with the new strategic direction.