International Council on Mining and Metals (ICMM), which represents 28 mining and metals companies, has pledged to net-zero scope one and two greenhouse gas (GHG) emissions by 2050.
This climate commitment from global mining companies is in line with the ambitions set forth by the 2015 Paris Agreement.
Firms such as Anglo American, Glencore and Mitsubishi Materials are some of the members of ICMM.
ICMM CEO Rohitesh Dhawan said: “We are speaking with one voice, representing approximately one-third of the global mining and metals industry – including more than 650 sites in over 50 countries – so that we drive emissions reduction at a significant scale.
“ICMM members have and will continue to set meaningful short and/or medium-term targets to build clear pathways to achieving this goal, while also accelerating action on addressing scope three emissions and enhancing disclosure.
“We encourage other mining and metals companies, suppliers and customers to join us in decarbonising commodity value chains so that we collectively accelerate climate action in our wider industry.”
The members aim to achieve the 2050 climate goal by reducing or stopping the use of diesel-fuelled trucks and fast-tracking the use of renewable power.
Facing pressure from shareholders and environmental activists, several mining firms have already committed to achieving net-zero emissions by 2050.
The 28 ICMM members will submit a report every year on their progress towards decarbonisation.
ICMM plans to set short and/or medium-term targets as a measure to develop pathways to achieve net-zero scope one and two GHG emissions by 2050 or even sooner.
It also plans to set up targets on scope three GHG emissions ‘if not by the end of 2023, as soon as possible’.
ICMM stated that while all scope three action is based on the total efforts of producers, suppliers and customers, some commodities see greater challenges in terms of collaborative and technological aspects than others.
It plans to overcome these challenges and advance partnerships for setting targets and reducing emissions across value chains.
Between 2016 and 2018, ICMM members have together cut down 6% of emissions, Dhawan told Reuters.
The latest announcement comes days before the 2021 United Nations Climate Change Conference scheduled to be held in Scotland from 31 October to 12 November.