Founder of the mining company Fortescue, Australian Andrew Forrest announced on Friday, 7th, that he will invest US$10 million, via his Minderoo foundation, in the Tropical Forests Forever Fund (TFFF) – a mechanism created by the Lula government to generate resources to pay those who protect forests essential to contain global warming.
In addition to being a founder, Forrest is the company’s chairman and a philanthropist committed to “ending fossil fuel use, accelerating the transition to green energy and tackling urgent global challenges,” according to the company’s website.
Created in 2003, Fortescue works with iron ore, has three mining units, operates 760 km of railways and eight cargo ships. The company – which had a net profit after tax of US$3.4 billion in the 2025 financial year – has projects in Africa and Latin America, as well as Australia.
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In recent years, Fortescue has invested in projects to decarbonize the economy, especially in green hydrogen. Recently, however, it announced that it had given up installing plants in the USA and Australia.
The company has a project to build a R$25 billion green hydrogen unit in the port of Pecém, in Ceará. It has already obtained the preliminary environmental license to install the plant, but the final investment decision has not yet been made.
In a note sent to Estadão in August, Fortescue stated that Brazil continued in its “development portfolio, with competitive structural characteristics.” “Our commitment to decarbonization, green hydrogen and the construction of a sustainable green metals chain continues to be considered a relevant focus for the company.”
The Forrest foundation that made the investment in TFFF is Australia’s largest philanthropic institution, backed by assets worth $9 billion, according to Fortescue’s website. It works in areas such as combating plastic pollution, democratization and security of artificial intelligence, humanitarian aid in conflict zones, including Ukraine and the Middle East, defending human rights and gender equality.
The businessman has a doctorate in marine ecology and also owns Tattarang, the largest private investment group in Australia, according to the mining company’s website. “Dr Forrest invests in sectors critical to national resilience and prosperity, including renewable energy, battery metals, high-performance shipbuilding, iconic Australian brands, medical technology, agri-food and real estate,” the website says. “The group is guided by the principle of using capital only as a force for good.”
