World’s largest miners including Glencore and Barrick Gold commit to net zero carbon emissions by 2050
The world’s largest miners pledged on Tuesday to a goal of zero direct and indirect net carbon emissions by 2050 or earlier, the International Council on Mining and Metals (ICMM) said.
“The collective commitment of ICMM members to net zero (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history,” said the CEO Rohitesh Dhawan in an open letter signed by the 28 heads of the world’s largest miners.
The announcement comes ahead of next month’s United Nations climate meeting that aims to implement more ambitious climate action from the nearly 200 countries that signed the 2015 Paris Agreement to limit global warming .
Many miners, including Anglo American, Rio Tinto and BHP, under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions.
Collective engagement, however, “represents a shared ambition of companies that represent one-third of the global mining and metallurgical industry,” ICMM said.
Its 28 members, whose operations cover 650 sites in 50 countries, will report annually on their progress in decarbonization.
Mining faces a “decarbonization challenge” as the sector must reduce its emissions while producing metals, such as nickel and copper, which are essential for a low-carbon economy, Konrad von Szczepanski said, Managing Director and Partner of the Boston Consulting Group.
Direct and indirect emissions will be reduced by accelerating the use of renewable energy and reducing or eliminating the use of diesel trucks, Dhawan told Reuters.
Targets for scope three emissions, which include those from customers transforming iron ore into steel, should be set “if not by the end of 2023, as soon as possible”.
The technology for producing carbon-free steel has yet to be proven.
Glencore, the world’s largest supplier of thermal coal transported by sea, has pledged to achieve a Scope Three goal, primarily by dismantling its coal mines.
ICMM members, including Barrick Gold and Alcoa, collectively reduced their emissions by 6% between 2016-18, Dhawan said.
