GREENHOUSE GAS METRICS AND TARGETS
Our targets reflect our strategic ambition to decarbonise our operations by 2030 and leverage this first mover advantage to accelerate commercial decarbonisation through industry rapidly, profitably and globally.
Scope 1 and 2 absolute gross target
Fortescue has set an absolute gross target of zero Scope 1 and 2 emissions by 2030 for our Australian terrestrial iron ore operations (the Real Zero target). This target covers the following value chain stages of our Australian iron operations: extraction and recovery, processing, transport from mine to port, blending and stockpiling, ship loading.
Physical emissions intensity targets
By 2030, enable a reduction in emissions intensity from steelmaking by Fortescue's customers of 7.5 per cent, from FY21 levels (the Steelmaking target). By 2030, enable a reduction in emissions intensity levels from the shipping of our iron ore by 50 per cent, from FY21 levels (the Shipping target).
Scope 3 Net Target
Fortescue has set a target of Net Zero Scope 3 by 2040.
Carbon Credits
Since 2023, Fortescue no longer purchases voluntary carbon offsets for Scope 1 and 2 emissions, instead focusing our efforts on the elimination of real world emissions. Carbon offsets against Scope 1 and 2 emissions are purchased and relinquished only to the extent required by legislation.
Emission-reduction capital expenditure
Committed decarbonisation investment
US $224 million
FY24
US $700-900 million
FY25
