Fortescue has been acknowledged as a global leader in its commitment to achieving “Real Zero” emissions, according to a report released by Climate Integrity and the Institute for Sustainable Futures at the University of Technology Sydney. The report also highlights IKEA and Lendlease for their pioneering climate strategies that aim to eliminate fossil fuels without relying on carbon offsets.
As global temperatures continue to rise, Fortescue Metals CEO Dino Otranto emphasized the company’s proactive approach: “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 added that businesses like Fortescue, Lendlease, and IKEA are demonstrating that it is possible to move away from fossil fuels quickly and efficiently with new technologies.
Claire Snyder, Director of Climate Integrity, remarked on the significance of these efforts: “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.” She noted that companies leading in decarbonization have shifted from “net zero” goals to more ambitious “real zero” targets.
To meet its Real Zero objectives, Fortescue is focusing on renewable energy development. This includes accelerating 2-3GW of renewable energy projects in Pilbara and constructing a 190MW solar farm at its Cloudbreak mine site. Furthermore, Fortescue plans to collaborate with IKEA and Lendlease across sectors to enhance climate solutions globally.
The full report can be accessed under the title “Real Zero Report — Climate Integrity.”
Climate Integrity is an advocacy group promoting science-based transitions towards zero emissions. Their previous research indicated that several Australian companies are not meeting global best practices in net-zero pledges.
