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April 6, 2021

Miners continue to improve carbon emission reduction targets

In line with global efforts to meet the Paris Agreement objective of reducing global warming, mining companies around the world are aiming to minimise carbon emissions over the next ten to 15 years, with the goal of reaching net-zero emissions by 2050.

By GlobalData

In line with global efforts to meet the Paris Agreement objective of reducing global warming, mining companies around the world are aiming to minimise carbon emissions over the next ten to 15 years, with the goal of reaching net-zero emissions by 2050.

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Mining companies make accelerated moves towards net zero carbon emissions

Over the last two to three years, considerable progress has been made by mining companies in terms of setting emission reduction targets and net zero goals and, more recently, outlining their decarbonization pathways. While the target year for net zero for most has remained at 2050, mining companies are becoming increasingly ambitious with their targets for short-term scope 1 and 2 emissions reductions targets. To give a full view of this area of the mining industry, GlobalData is offering you a free whitepaper, which offers a detailed analysis around the following topics:
  • Compares the operational decarbonization progress to date for leading mining companies
  • Benchmarks the targets for reducing scope 1 and 2 emissions, and net zero carbon emissions
  • Benchmarks the current share of renewables in leading miners’ electricity consumption
Read this report to best position your company in line with these environmental targets.
by GlobalData
Enter your details here to receive your free Report.

In most cases, however, the emissions goals fall below the aims of the 2015 Paris Agreement, which aims to limit global warming to below 2°C, or, better still, no more than 1.5°C below pre-industrial levels. To achieve this, greenhouse gas emissions between 2010 and 2050 would need to be reduced by between 41%-72% for a 2°C reduction and 78%-89% for a 1.5°C reduction.

In late 2020, however, Glencore became the first miner to pledge to achieve net-zero emissions including scope 3 emissions by 2050. Its CO₂ target includes a 40% reduction in total emissions (including scope 1, 2 and 3) by 2035, compared with 2019 levels, before a goal of net-zero total emissions by 2050. The company intends to achieve this by lowering operating emissions, reducing coal production, increasing investment in low-carbon metals such as copper, cobalt, nickel and zinc, and supporting deployment of low emission technologies.

In addition, while coal mines in Colombia and South Africa come to the end of their economic lives, production is expected to continue at its Australian mines with high-quality coal.

Since then, in March, Fortescue Metals Group brought forward its carbon neutrality target from 2040 to 2030. To achieve this target, the company’s subsidiary Fortescue Future Industries (FFI) is advancing projects across Australia to build large scale renewable energy and green hydrogen production capacity, to advance the substitution of carbon-based fuel with green electricity, green hydrogen and green ammonia. These projects include the decarbonisation of its mining haul fleet through large battery technology, trialling hydrogen fuel cell power for its drill rigs, trialling technology on locomotives to run on green ammonia, development of a ship design powered by green ammonia and conducting trials to use renewable energy in the Pilbara to convert iron ore to green iron at low temperatures without coal.

Related Companies

Free Report
img

Mining companies make accelerated moves towards net zero carbon emissions

Over the last two to three years, considerable progress has been made by mining companies in terms of setting emission reduction targets and net zero goals and, more recently, outlining their decarbonization pathways. While the target year for net zero for most has remained at 2050, mining companies are becoming increasingly ambitious with their targets for short-term scope 1 and 2 emissions reductions targets. To give a full view of this area of the mining industry, GlobalData is offering you a free whitepaper, which offers a detailed analysis around the following topics:
  • Compares the operational decarbonization progress to date for leading mining companies
  • Benchmarks the targets for reducing scope 1 and 2 emissions, and net zero carbon emissions
  • Benchmarks the current share of renewables in leading miners’ electricity consumption
Read this report to best position your company in line with these environmental targets.
by GlobalData
Enter your details here to receive your free Report.

Related Report
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