fortescue’s path to real zero ►
This paper evaluates Fortescue’s Real Zero plan, which aims to eliminate Scope 1 and 2 emissions from its Australian iron ore operations by 2030 without using carbon offsets. Supported by a favourable domestic policy environment and strong global investment in clean energy, the plan is ambitious but achievable. It is also symbolically important as a major shift for one of the world’s largest iron ore producers. However, Real Zero addresses only ~1% of Fortescue’s total emissions, as ~99% arise downstream in steelmaking and lie/fall outside the company’s direct control. This raises questions about the plan’s broader climate impact and its possible reputational risks. The analysis highlights both the strengths and limitations of Fortescue’s strategy, concluding that long-term effectiveness depends on economy-wide decarbonisation efforts driven by activism and stakeholder engagement.
11/2025