Billionaire Forrest’s Fortescue to Stop Using Carbon Offsets
- Iron ore producer won’t buy voluntary credits from this year
- Andrew Forrest’s company is aiming to slash direct emissions
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Fortescue Metals Group Ltd., the world’s No. 4 iron ore producer and a major greenhouse gas emitter, is ending its use of voluntary carbon offsets.
Billionaire Andrew Forrest’s company, which generated 2.55 million tons of scope 1 and 2 carbon dioxide pollution in the 12 months to June 30, confirmed it has begun implementing a policy to end the purchase of credits from the current financial year.