Fortescue commits to net-zero scope 3 emissions by 2040

Photo: Fortescue

Australian Fortescue Metals Group has announced ambitious targets to reduce the environmental footprint of its iron ore by reinventing itself as a clean energy company.

The Perth-based group on Tuesday said it could reach net zero Scope 3 emissions by 2040 via the use of hydrogen made from renewable energy to produce “green” iron and ultimately steel.

In an announcement on Tuesday, Fortescue committed to addressing its emissions across its entire global value chain, including crude steel manufacturing, which accounts for 98% of its scope 3 emissions.

To achieve this, the miner plans to develop projects and technologies focusing on reducing emissions from iron and steel making and working with current and prospective customers on the application of the technology and the supply of green hydrogen and ammonia.