Fortescue recognised as a global leader in 'Real Zero' decarbonisation

Fortescue 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.

As the world grapples with the realities of climate change – including last year’s breach of the 1.5˚C global temperature threshold – Fortescue is proving that rapid and meaningful action is not only possible but commercially smart.

Fortescue Metals CEO, Dino Otranto said: “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. 

“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, said: “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.” 

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

Fortescue, IKEA and Lendlease are also exploring new cross-sector partnerships to share insights and advance climate solutions across industries and invite other companies to join them in creating a Real Zero nucleus to drive change in Australia and globally. 

Read the full report here: Real Zero Report — Climate Integrity

About Climate Integrity

Climate Integrity is a not-for-profit research and advocacy group championing science, transparency, accountability and justice in the transition to zero emissions. A previous study of the net zero pledges of ten prominent Australian companies including Qantas, Origin, AGL and Woolworths showed that they are lagging behind global best practice and largely lack scientific rigour.