Fortescue welcomes latest emissions projections for Australia, congratulates the Government on enhanced policy action

Perth, AUSTRALIA – Fortescue warmly welcomes today’s release of Australia’s latest emissions projections and we congratulate the Government on the significant improvement to the national emissions trajectory.

Through improvements to Australia’s policy architecture that reduces reliance on carbon offsets and increases the incentivisation of green energy, we acknowledge the Government has taken significant steps toward matching carbon policy settings to increased climate risks.

Fortescue Energy CEO Mark Hutchinson said this was an important moment for Australia heading into COP28.

“Australia has come a long way on climate policy in a short period of time. Heading into COP28, the Government should be acknowledged for the significant work it has done to improve our national emissions trajectory. As climate impacts accelerate, it is imperative that policy settings are appropriately matched to risk.”

Fortescue also acknowledges the long-standing commitment by Australia’s scientists and regulators to Australia’s gold standard emissions transparency. Transparency remains essential to converting climate ambition into practical action.

We call on all countries to adopt similar reporting arrangements at COP28, and encourage industry to embrace regular, science-based reporting as a central means of accountability.