Forrest flags lower returns for green projects

According to The Australian Financial Review, Fortescue Metals executive chairman Andrew Forrest says he will accept the first generation of clean energy projects having lower rates of return than alternative growth options in the iron ore division, as mining boss Fiona Hick added to the extraordinary turnover of executives at the company.
Fortescue has pledged to take a final investment decision on five clean energy projects before the end of December, and the company axed a 30-month-old policy that sought to limit spending within the clean energy division to 10 per cent of earnings generated by the iron ore division.
The axing of the policy came as spending on clean energy is expected to exceed 10 per cent of iron ore earnings this year.

https://www.afr.com/companies/mining/forrest-flags-lower-returns-for-green-projects-as-mining-boss-exits-20230828-p5e03v