Fortescue is committed to contributing to global efforts to combat climate change. We accept the scientific consensus as assessed by the Intergovernmental Panel on Climate Change (IPCC) and support the Paris Agreement goal of limiting global temperature rise to well below two degrees Celsius above pre-industrial levels.
We also support Australia's commitment to reduce emissions by 26-28 per cent from 2005 levels by 2030 and the UN Framework Convention on Climate Change which mandates that individual nations take responsibility for emissions within their own borders.
Climate change is a complex and challenging issue and successful mitigation will require a coordinated approach between government, business and the community. Collaboration will be critical in ensuring that policy frameworks are able to deliver mitigation outcomes that support the Paris Agreement objectives while incentivising innovation and supporting economic stability and growth.
Task Force on Climate-related Financial Disclosures
Fortescue supports the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), recognising that TCFD-aligned climate risk disclosures provide the transparency, consistency and detail required by our stakeholders to assess performance in this area.
Fortescue's climate related reporting aligns with the TCFD recommendations which focus on four key elements.
Fortescue is working to reduce its CO2 emissions and has set voluntary short-term targets for our operations and the voluntary long-term goal to achieve net-zero operational greenhouse gas emissions in the second half of the century.
To achieve this goal, Fortescue must continue to explore opportunities to use low emission fuels and renewables as a power source at all its sites.
A reliable, secure and cost effective power source is essential to our operations and we are currently investigating the large-scale use of renewables including solar energy at its sites as well as increasing the connectivity of the Pilbara to drive efficient power use.