Lynas Rare Earths Limited has completed the commissioning of its 65MW Mt Weld hybrid renewable power station ahead of schedule, marking a significant step towards its net zero 2050 ambition. The power station, which includes wind, solar, and battery energy storage components, is expected to reduce the company’s reliance on diesel fuel at Mt Weld operations. In FY26, Lynas deployed $12.41 million in capital expenditure towards renewable energy initiatives, with an additional $143.8 million in Right of Use assets recognised in relation to the solar and wind components of the power station.
Material actions and disclosures
In FY26, Lynas reported total GHG emissions of 174,211 tonnes of carbon dioxide equivalent (tCO2-e), including 96,790tCO2-e Scope 1 and 77,421tCO2-e Scope 2 emissions. The company has established a baseline for Lynas Malaysia to enable target setting and is working on developing GHG reduction targets and a climate transition plan. The Mt Weld hybrid renewable power station has delivered 93% average renewable content in the second half of FY26, well above the 70% target.
Forward commitments
Lynas aims to achieve net zero emissions by 2050 and is working to develop GHG reduction targets and a climate transition plan. The company continues to prioritise direct action to reduce GHG emissions through effective GHG mitigation actions and climate resilience initiatives. The Board, supported by the Audit, Risk and ESG Committee, oversees the setting and monitoring of sustainability objectives, including climate-related actions.