Fortescue plans to redirect funds for carbon offsets to decarbonization to achieve "real zero" emissions by 2030. The world's fourth-largest iron ore producer will no longer buy carbon offsets.
Fortescue reorganized its business into energy and steel divisions and plans to reduce its use of diesel fuel. The company's short-term goal is to peak emissions by 2025/26 due to the commissioning of a new mine.
Emissions are expected to drop significantly in 2027/28 due to environmental technologies and renewable energy investments. Fortescue plans to invest in three more solar farms by fiscal 2025.