Strategy
Our climate change objectives are to be as energy-efficient as possible to minimise our greenhouse gas (GHG) emissions, and increase the proportion of renewable or low-carbon energy we use. This has the added benefit of improving the security of energy supply.
The key elements of our energy and climate strategy are:
- Improve the quality of our energy and GHG emission data to identify opportunities for improvement
- Innovate and develop breakthrough technologies to make mining, concentrating, smelting and refining processes more energy-efficient, both through our own research and development programmes, and collaboration with others
- Identify and roll out programmes that make significant energy efficiency improvements
- Further reduce fugitive methane emissions from coal mining
- Switch to low-carbon energy sources where feasible
- Work with others to understand how metals and minerals can be part of the solution in switching to a low-carbon economy and implement programmes to support this transition
- Minimise GHG emissions associated with the land use practices and seek opportunities to develop significant carbon sinks (such as increased forest cover or enhancement of wetlands)
- When planning future energy intensive metal smelters and refineries carefully consider locations with low-carbon energy sources (such as hydropower) in sufficient quantities
- Work with the industry and other stakeholders to minimise climate change risks in areas most likely to be affected
- Engage with other stakeholders to help develop effective and robust climate change policies nationally and internationally
- Reduce indirect (Scope 3) GHG emissions from product transport and business travel
- Reduce the lifecycle carbon footprints of our products
Our commodity businesses have integrated climate change strategies into their business strategies and plans, which address:
- energy use and GHG emission reductions including specific reduction targets
- the physical risks that climate change presents to the commodity businesses’ operations
- the political and commercial risks and opportunities associated with climate change policy and regulatory developments
