GlobalData offers a comprehensive analysis of CMOC Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on CMOC Group‘s ESG performance. GlobalData’s company profile on CMOC Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
CMOC Group, a global mining company, has set an ambitious target of achieving net-zero for Scope 1 and Scope 2 emissions in its operations by 2050. CMOC Group latest filings mentioned the keywords ‘Emissions’ and ‘Climate Change’ most number of times in relation to Net Zero.
CMOC is has developed a carbon neutral roadmap that sets out ambitious goals and implementation strategies for reaching peak carbon emissions by 2030 and carbon neutrality by 2050. The company supports absolute reduction targets and plans to achieve carbon neutrality through a series of measures focused on energy efficiency, electrification, renewable energy, carbon capture, and storage. CMOC Group has set short-term goals of implementing energy efficiency measures to reduce its emissions intensity(per tonne of processed ore) by 15%, and reach peak emissions by the year 2030. Medium-term goals include energy efficicency, electrification, and renewable energy measures that can deliver a 8% reduction in emissions by 2040 compared with the 2030 peak. Long-term goals also include carbon capture and storage projects to achieve a 67% reduction in emissions by 2045 compared with the 2030 peak, and realize the final goal of achieving carbon neutrality by 2050.
CMOC Group plans to invest at least US$ 1.5 billion up to the year 2050 in order to deliver on its carbon neutral action plan. The company has taken a number of steps to transition away from fossil fuels, save energy, and reduce emissions. These include establishing photovoltaic plants on closed tailings dams, investing in renewable and energy efficiency technologies such as hydropower, biofuels, and heat recovery from acid plants, developing and deploying electric-powered haulage and excavation vehicles, and building energy-efficient battery-swap stations. In 2022, renewable sources accounted for 38.8% of its overall energy consumption, which places the company within reach of its goal of 40% by 2025.
In addition to its emission reduction efforts, CMOC Group has reported on its community investment, total energy consumption, intensity of energy consumption, total water consumption, and intensity of water consumption. The company has also reported on its total emissions of hazardous and non-hazardous waste, including waste rocks and tailings. In 2022, CMOC generated 20.0 kilotonnes of non-hazardous waste, of which 38.8% was recycled; and 27.0 kilotonnes of hazardous waste, of which 83.9% was recycled. It continues to improve waste recycling rates, reduce its environmental impact, and promote the circular economy by recycling scrap metal from mining sites, recycling waste smelter dust, and reducing and recycling hazardous waste.
In conclusion, CMOC Group has set a net-zero target for its operations and is taking steps to reduce its emissions by setting short-term, mid-term, and long-term targets and using resources efficiently. The company has reported on its GHG emissions, community investment, energy and water consumption, and waste generation.