Oil and Gas

Barrick Gold raises greenhouse gas emission reduction target to 30%

April 8 (Reuters) - Canadian miner Barrick Gold Corp on Thursday raised its greenhouse gas emissions target to 30% from 10% and pledged to achieve net-zero carbon emissions by 2050, amid an investor-driven push for climate change initiatives.

Investors are putting pressure on gold miners, which are among the biggest emitters of greenhouse gases in the mining sector, to take concrete steps to reduce their carbon footprint.

Barrick Gold said it plans for more solar power in Mali and Nevada, and expects to convert a power station in Nevada from coal to natural gas.

It also said its direct green house gas emissions, called scope 1, and indirect green house gas emissions, or scope 2, fell 2.5% when compared to 2018 baseline.

Top gold producer Newmont Corp has also pledged to achieve net-zero carbon emissions by 2050. (Reporting by Rithika Krishna in Bengaluru; Editing by Shinjini Ganguli)