Fortescue recognised as a global leader in ‘Real Zero’  

Fortescue (ASX: FMG) has been named a global leader in its commitment to Real Zero in a newly released report by Climate Integrity and the Institute for Sustainable Futures at the University of Technology Sydney. 

The report recognises Fortescue, alongside IKEA and Lendlease, for pioneering industry-leading climate strategies that phase out fossil fuels without reliance on carbon offsets. 

Fortescue Metals chief executive Dino Otranto comments on the recognition. 

“This recognition is a testament to the work we’re doing to prove that heavy industry can cut fossil fuels — not someday, but right now,” he said. 

“Fortescue, Lendlease and IKEA are showing that business can turn the tap off on fossil fuels as fast — or even faster — than the science says is necessary.  

“There are new and better ways of operating, through lower cost, more efficient technologies. Fortescue is seizing these opportunities rather than foisting the problem on the next generation.  

“The fossil fuel era is winding down and Fortescue intends to be at the forefront of what comes next.” 

Climate Integrity director Claire Snyder says the ambition displayed by Fortescue, IKEA and Lendlease is redefining what corporate climate leadership could and should look like both in Australia and around the world.  

“Our report shows that companies with market-leading decarbonisation strategies have shifted focus from ‘net zero’ to ‘real zero,’ and provides three case studies to show that not only is it possible — it is already happening and it’s good for business,” she said. 

To achieve its Real Zero target, Fortescue is accelerating the development of 2-3GW of renewable energy and battery storage in the Pilbara region of WA, including a 190MW solar farm that is currently under construction at its Cloudbreak mine site.