Australian iron ore miner Fortescue Metals Group has announced that it will no longer buy carbon offsets from this financial year onwards.
Accordingly, the company will divert all funds - which amount roughly to several hundred million dollars - allocated to carbon offsets to its net zero target by 2030.
Fortescue also plans to complete its first 100-megawatt solar power plant, to develop a zero-emission rail solution to transport iron ore from its mine sites to port, and to deliver its first electric excavators to commence operational use on site in the financial year 2024-2025.
