Fortescue Metals Group released its inaugural Climate Change Report, together with the annual Sustainability Report, detailing the company’s progress on its social, safety and environmental performance for the 2020 financial year.
Acknowledging the growing stakeholder interest in business action on climate change, the report details how Fortescue is preparing for the opportunities and risks associated with climate change and how the company is contributing to the global transition to a lower carbon future.
Fortescue Chief Executive Officer Elizabeth Gaines said, “The business sector is in a privileged position to take the lead in tackling the challenges associated with climate change. Mining is one of the most innovative industries in the world and we are harnessing this advantage to work towards carbon neutrality, with a sense of urgency.
“Our bold target to achieve net zero operational emissions by 2040 is underpinned by our proud history of setting stretch targets and is strengthened by the introduction of practical initiatives that will help us deliver on our targets in an economically sustainable manner,” Ms Gaines said.
The West Australian miner’s medium-term goal is to reduce Scope 1 and 2 emissions from existing operations by 26 per cent from 2020 levels by 2030.
Highlights of the report include:
- US$800 million investment with business partners to deliver 25 to 30 per cent of stationary energy requirements from solar power.
- Partnership with ATCO Australia to build and operate Western Australia’s first hydrogen refuelling station.
Fortescue’s FY20 Climate Change Report can be viewed here.