Direct Lobbying Transparency
| Overall Assessment | Comment | Score |
|---|---|---|
| Comprehensive | Fortescue has demonstrated a comprehensive level of transparency around its climate lobbying activities by clearly naming specific climate policies, disclosing its lobbying mechanisms, and articulating its desired outcomes. The company has identified at least three policies it has engaged on, such as the Hydrogen Production Tax Credit unveiled in May 2024, the USA’s Inflation Reduction Act, and Australia’s Hydrogen Headstart government package. It describes using multiple direct and indirect lobbying mechanisms, including consultations and active participation in forums like the Sustainable Markets Initiative, the World Economic Forum, and COP27, targeting specific entities such as the Australian Government’s representatives on the IMO Marine Environment Protection Committee and advocating on the EU Carbon Border Adjustment Mechanism. It affirms its approach of engaging through industry associations, stating, "We value and invest in building positive longstanding relationships with governments around the world" and "We are members of a broad range of industry groups and associations, allowing us to contribute in a coordinated way to the development of effective policy frameworks." Finally, Fortescue outlines clear policy outcomes it seeks — notably reducing emissions intensity from steelmaking by 7.5% by 2030, achieving Real Zero Scope 1 and 2 emissions by 2030, decarbonizing its fleet, and developing green hydrogen technologies — and highlights ambitions such as realizing "a reduction in emissions intensity levels from the shipping of our iron ore by 50 per cent, from FY21 levels by 2030." This level of detail demonstrates a comprehensive transparency in its climate-related lobbying disclosures. | 4 |