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“Sustainability is integrated into all aspects of our business, and we are committed to ensuring communities continue to benefit from our growth and development as we take a global leadership position in the green energy transition. We have set a target to decarbonize our operations by 2030, which is two decades earlier than commitments made by most of our peers, and we have set a target to achieve net zero Scope 3 emissions by 2040. Fortescue Future Industries is the key enabler of these targets, with a range of heavy industry decarbonization initiatives underway to eliminate our reliance on fossil fuels.”
Elizabeth Gaines,
Chief Executive Officer,
Fortescue Metals Group (FMG).
Sustainability is critical to the success of Fortescue. The Company is focused on achieving leading practice, decarbonizing its operations, and ensuring communities continue to benefit from its growth and the green energy transition.
Today, the Company released its annual Sustainability and Climate Change reports, detailing its performance against key material sustainability and climate-related commitments and targets for the 2022 financial year.
Fortescue Chief Executive Officer, Elizabeth Gaines said, “Sustainability is integrated into all aspects of our business, and we are committed to ensuring communities continue to benefit from our growth and development as we take a global leadership position in the green energy transition.
“We have set a target to decarbonize our operations by 2030, which is two decades earlier than commitments made by most of our peers, and we have set a target to achieve net zero Scope 3 emissions by 2040. Fortescue Future Industries is the key enabler of these targets, with a range of heavy industry decarbonization initiatives underway to eliminate our reliance on fossil fuels.”
Fortescue Chairman, Dr. Andrew Forrest AO said, “Fortescue is transitioning into a global green energy, metals, minerals, and technology company, capable of delivering not only green energy but also the minerals critical to the green energy transition.
“For our size and scale, there is no other mining company taking the action we are to decarbonize and provide the solutions for the world to reduce emissions.
“We are leading the green energy revolution – and will once again, set record-breaking industry benchmarks.”
Highlights from the FY22 Sustainability and Climate Change reports include:
- Announcement of an industry-leading target to achieve net zero Scope 3 emissions by 2040.
- Acquisition of Williams Advanced Engineering, providing Fortescue with critical technology and expertise in high-performance battery systems.
- Completing a US$1,500 million Senior Notes offering, which included our inaugural US$800 million Green Use of Proceeds Notes that will be applied to decarbonization initiatives.
- Celebrating more than A$4 billion in contracts and sub-contracts being awarded to Aboriginal businesses since the Billion Opportunities initiative was launched in 2011.
- Achieving 27 percent female employment in senior leadership roles.
- Energisation of the 60MW Chichester Solar Gas Hybrid facility which displaced 78 million liters of diesel usage during the financial year.
- Commencing the development of the Infinity Train, the world’s first regenerating battery electric iron ore locomotive.
- Became a signatory for The Climate Pledge, a member of the UN Race to Zero, and a founding member of the First Movers Coalition.
- Partnering with Liebherr to develop and supply zero emissions haul trucks to our Pilbara mining operations.
Performance highlights in FY22 include:
- Safety – 10 percent reduction in Total Recordable Injury Frequency Rate (TRIFR) to a record annual low of 1.8.
- Economic contribution – total global economic contribution of A$27.6 billion, including A$5.3 billion in taxes, State royalties, and other government payments
- Workplace diversity – female employment of 23 percent
- Aboriginal employment – 10 percent Aboriginal employment rate across Australian operations and 15 percent in our Pilbara operations
- Social investment – A$77 million invested in our communities including a five-year, A$8 million partnership with the Royal Flying Doctor Service of Western Australia
- Environmental management – zero significant environmental incidents.