Fortescue Future Industries (FFI) is targeting the production of 15 million t of green hydrogen annually by 2030, underpinning opportunities to work with customers and shipping partners on emissions reduction and elimination projects.
FFI is a subsidiary of Fortescue Metals Group, and on Tuesday it announced a target to achieve net zero Scope 3 emissions by 2040, addressing emissions across Fortescue’s entire global value chain.
To achieve the target, Fortescue and subsidiary FFI are focused on accelerating a few key initiatives.
These include the conversion of existing maritime vessels into green ammonia-fuelled vessels; supporting the adoption of green ammonia in new vessel construction; and pursuing opportunities for emissions reductions in iron and steel making through the use of green hydrogen.
Fortescue chief executive officer Elizabeth Gaines said the company is committed to reducing emissions with its industry-leading initiative.
“Climate change is the most pressing issue of our generation and at Fortescue, setting stretch targets is at the core of our culture,” Gaines said.
“Fortescue has commenced its transition from a pure play iron ore producer to a green renewables and resources company, underpinned by the world’s first major carbon emission heavy industry operation to set a target to achieve carbon neutrality by 2030.”
FFI chief executive Julie Shuttleworth said the work to decarbonise the company will pave the way for a new green steel industry.
Subscribe to Oil & Gas Today for the latest industry news.