Fortescue

Fortescue, an AU-based company in the Chemical and fertilizer minerals, salt and other mining and quarrying products n.e.c. industry, reported Scope 1 emissions of approximately 2.36 billion kg CO2e, Scope 2 emissions (market-based) of 500 million kg CO2e, and Scope 3 emissions of approximately 269.31 billion kg CO2e in 2024. This follows 2023 emissions of approximately 2.20 billion kg CO2e for Scope 1, 540 million kg CO2e for Scope 2 (market-based), and 267.61 billion kg CO2e for Scope 3.

Fortescue has committed to achieving carbon neutrality across its operations (Scope 1 and 2) by 2030. Specifically, they aim for Real Zero Scope 1 and 2 emissions from their Australian terrestrial iron ore operations by 2030, which means eliminating fossil fuels and not using offsets. This includes a 90% reduction of terrestrial Scope 1 and 2 emissions from these operations by 2030. They also have a target to reduce their net Scope 1 and 2 emissions by at least three per cent annually from their FY20 baseline, aligning with a 1.5°C trajectory.

For Scope 3 emissions, Fortescue is working towards Net Zero by 2040. They also aim to enable a 50% reduction in emissions intensity from the shipping of their iron ore by 2030 (from FY21 levels) and a 7.5% reduction in steelmaking emissions intensity by their customers by 2030 (from FY21 levels).

Fortescue's climate commitments are further reinforced by their "Committed" status for near-term targets with the Science Based Targets Initiative (SBTi) and a "Yes" for net-zero commitment. They are also a signatory to The Climate Pledge, having signed in October 2021.