PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has set a target to achieve net zero operational emissions by 2040.
The company on Tuesday said that the net zero emissions goal was core to the its climate change strategy and underpinned by a pathway to decarbonisation, including the reduction of Scope 1 and 2 emissions from its existing operations by 26%, from 2020 levels by 2030.
“Fortescue has a proud history of setting stretch targets and our 2030 emissions reduction commitment, together with our goal to achieve net zero operational emissions by 2040, positions Fortescue as a leader in addressing the global climate change challenge,” said Fortescue CEO Elizabeth Gaines.
“Fortescue supports the Paris Agreement long-term goal of limiting global temperature rise to well below 2 degrees above pre-industrial levels, and our emissions reduction targets align with this international objective. Our success will be founded on practical initiatives that will allow us to deliver on our targets in an economically sustainable manner.”
Since late last year, Fortescue and its partners have announced investments worth some $800-million in energy infrastructure projects which will increase the use of renewable energy, and will contribute to the company’s emissions reduction target, Gaines said on Tuesday.
The infrastructure includes the Chichester solar gas hybrid project, which will see the installation of 60 MW of solar generation, as well as a $700-million investment into the Pilbara Energy Connect programme, which along with the Chichester hybrid project will deliver between 25% and 30% of Fortescue’s stationary energy requirements from solar power.
“Mining is one of the most innovative industries in the world and Fortescue is harnessing this technology and capability to achieve carbon neutrality with a sense of urgency. In addition to the development of gas technology and renewables for our stationary energy requirements, we are working towards decarbonizing our mobile fleet through the next phase of hydrogen and battery electric energy solutions,” Gaines said.
Fortescue in 2018 inked a landmark partnership agreement with the Commonwealth Scientific and Industrial Research Orginisation to develop metal membrane technology, providing the potential for the bulk transportation of hydrogen through ammonia.