Fortescue Metals Group has announced ambitious emissions reduction targets, focusing on eliminating Scope 1 and 2 emissions from its Australian terrestrial iron ore operations by the end of 2030. The company is investing US$6.2 billion to deploy large-scale renewable energy, battery storage, and electrified mining equipment to achieve its Real Zero Target.
Material actions and disclosures
Fortescue’s Scope 1 and 2 emissions are primarily driven by diesel consumption on its Australian mines. The company is implementing key technologies, infrastructure, and operational changes to reach its Real Zero Target by 2030. This includes the Pilbara Decarbonisation Program, which involves significant investment in renewable generation, battery storage, and transmission infrastructure.
Fortescue also aims to reduce emissions intensity levels from the shipping of its iron ore by 50% by 2030, from FY21 levels. The company is working with its joint venture partners to eliminate emissions equivalent to its equity share in those joint ventures.
Forward commitments
Fortescue is committed to expanding its portfolio across metals, energy, and technology in Australia, Africa, Europe, and Latin America. The company is building one of the world’s largest integrated renewable energy networks to power its operations with reliable, dispatchable, renewable energy.
Fortescue is also investing in Green Metal technologies and critical minerals that will support the global energy transition. The company advocates for businesses to adopt a “Real Zero” approach to reducing their emissions instead of “Net Zero.”