Fortescue Metals Group has set an emissions reduction goal to achieve net zero operational emissions by 2040. This goal is core to Fortescue’s climate change strategy and is underpinned by a pathway to decarbonisation, including the reduction of Scope 1 and 2 emissions from Existing Operations by 26 per cent from 2020 levels, by 2030.
Fortescue Chief Executive Officer Elizabeth Gaines said, “Fortescue has a proud history of setting stretch targets and our 2030 emissions reduction commitment, together with our goal to achieve net zero operational emissions by 2040, positions Fortescue as a leader in addressing the global climate change challenge.
“Fortescue supports the Paris Agreement long-term goal of limiting global temperature rise to well below 2°C above pre-industrial levels, and our emissions reduction targets align with this international objective. Our success will be founded on practical initiatives that will allow us to deliver on our targets in an economically sustainable manner,” she said.
Ms Gaines noted that since last October Fortescue and its partners have announced investments of more than US$800 million in significant energy infrastructure projects to increase its renewable energy usage. These investments will be key in achieving the emission reduction targets, she added.
One of those investments is the Chichester Solar Gas Hybrid Project, owned and operated by Alinta Energy. Currently under construction, it will include a 60-MW solar photovoltaic (PV) generation facility at the Chichester Hub, comprising Fortescue’s Christmas Creek and Cloudbreak mining operations in the the Pilbara region of Western Australia. In addition, an approximately 60-km transmission line will be built, with completion due mid-2021. This will link the Christmas Creek and Cloudbreak mining operations with Alinta Energy’s Newman gas-fired power station and 35-MW battery facility.
“More recently, Fortescue announced the US$700 million investment in the Pilbara Energy Connect program which, together with the Chichester Solar Gas Hybrid Project, will deliver 25-30 per cent of our stationary energy requirements from solar power,” said Ms Gaines.
“Mining is one of the most innovative industries in the world and Fortescue is harnessing this technology and capability to achieve carbon neutrality with a sense of urgency. In addition to the development of gas technology and renewables for our stationary energy requirements, we are working towards decarbonising our mobile fleet through the next phase of hydrogen and battery electric energy solutions,” she said.
The company also noted that the Iron Bridge Magnetite Project in the Pilbara is due to commence operation by mid-2022 with emissions reduction targets that align with Fortescue’s goal to achieve net zero operational emissions by 2040.