Fortescue’s path to protecting biodiversity

Fortescue (ASX: FMG) has entered into a strategic three-year collaboration with the International Union for Conservation of Nature (IUCN) to develop a comprehensive nature roadmap aimed at achieving a net positive impact on biodiversity.

The rapid transition to a low-carbon economic model is accompanied by growing demand for mining products to supply key inputs, including for green technologies.

While awareness of the sector’s impact on the environment and livelihoods has never been higher, there is also a growing recognition that business has a key role to play in driving action to halt and reverse global biodiversity loss, as highlighted in the final text of the Kunming-Montreal Global Biodiversity Framework (KM-GBF).

Already known for its commitments for decarbonisation, Fortescue has set a goal to achieve a net positive impact (NPI) on biodiversity. Through the strategic collaboration IUCN will review and help enhance Fortescue’s biodiversity management practices, using science-based frameworks and cutting-edge research.

Fortescue approval, communities and environment director Warren Fish says this collaboration is a crucial step in the company’s sustainability journey.

“By working with IUCN, we aim to set an example for the industry, ensuring our mining activities not only minimise environmental harm but contribute positively to biodiversity conservation,” he said.

“We are committed to integrating science-based targets into our operations and making a tangible difference for both local communities and ecosystems.”

IUCN deputy director general Stewart Maginnis comments on the collaboration.

“Between 2019 and 2024, IUCN was proud to count Dr Andrew Forrest AO, the founder of Fortescue, among its Patrons of Nature,” he said.

“We are now excited to be working with Fortescue as it develops its nature roadmap, enhancing its biodiversity performance and driving positive change across the sector.

“Our goal through such collaborations is to create scalable solutions that align with global biodiversity frameworks and inspire private sector actors to take meaningful action.”

Fortescue hopes this partnership will demonstrate how sustainable practices in the mining sector can contribute to national and global nature positive outcomes in a tangible manner.