Metrics and Targets

When we refer to emissions, we refer to all greenhouse gas emissions, reported in the unit of million tonnes of carbon dioxide equivalent (mtCO2-e). This is defined as the amount of CO2 that would cause the same temperature rise, over a given time period, as an emitted amount of greenhouse gas or mixture of greenhouse gases.

Green Metal is defined as iron made using processes and technologies that generate lower emissions than conventional methods. It encompasses a wide range of iron-containing products made from the reduction of iron ore, including sponge iron, pig iron, and direct reduced iron. This is a different product to green steel, a subsequent product made by alloying iron.

Zero emissions when used in relation to vehicles, mining equipment or power systems means that: (a) a vehicle’s exhaust, or mining equipment or power system, only emits water vapour when in operation; or (b) if the vehicle, mining equipment or power system is 100% battery powered then it does not emit any exhaust emissions.

Green ammonia is ammonia produced using green hydrogen and nitrogen (extracted from the air), and the production process is powered by renewable energy.

Green hydrogen is hydrogen produced by the electrolysis of water, using renewable energy.

We use this term to refer to Fortescue’s target to eliminate Scope 1 and 2 emissions from our Australian terrestrial iron ore operations in the Pilbara by 2030.

Our commitment is to eliminate emissions which are equivalent to our own equity share in our joint venture partnerships. We are also working with our joint venture partners to encourage the elimination of emission equivalent to their equity shares in those joint ventures.

Further detail on our plan to meet this target, and the risks and dependencies associated with achieving it, can be found throughout this Plan.