Sustainable Business

Factbox: ESG targets of big mining companies

2 minute read

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo

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April 30 (Reuters) - With mining responsible for 4-7% of greenhouse gas (GHG) emissions globally, the sector is under pressure from environmental activists and shareholders and faces the possible withdrawal of financing and insurance for mines viewed as contributing to climate change.

Glencore (GLEN.L) plans to become a net-zero emission company by 2050, including emissions from the use of the products it sells.

Rivals such as Anglo American (AAL.L), BHP (BHPB.L), Rio Tinto (RIO.L) and Vale SA (VALE3.SA) have set similar GHG reduction targets.

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However, such plans are difficult to compare, due to a varied mix of commodities produced and the challenge to track customers' emissions.

Direct emissions from miners representing 60% of total gold mine supply accounted for 0.2% of total global carbon emissions in 2019, but more action is required if the gold industry is to meet the most ambitious targets in the Paris climate accord, consultancy Wood Mackenzie said.

The table below shows details by company (in alphabetical order):

NOTE: 1) Scope 1 refers to emissions from a company's direct operations, such as emissions from fuel consumed by haul trucks at mine sites.

2) Scope 2 are emissions from the power a company uses for its operations, such as gas-powered electricity bought from the grid and used at mine sites.

3) Scope 3 includes emissions from customers using products sold by a mining company, such as coal burned at power stations, or processing iron ore to steel.

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Compiled by Clara Denina, Melanie Burton, Jeff Lewis, Marta Nogueira; editing by David Evans

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