Global climate change science as laid out by the IPCC predicts temperature increases as a consequence of the greenhouse effect.
Glencore’s position on climate change
In December 2015, COP21 participants in Paris committed to keeping any “global temperature rise this century well below 2° Celsius” and “to drive efforts to limit the temperature increase even further, to 1.5° Celsius above pre-industrial levels.” This broad consensus among nation states will see a global shift towards a lower-carbon economy, supported by policy and regulation leading to significant economic changes.
Glencore recognises the science of global climate change as laid out by the IPCC. We believe this, along with COP21 and public sentiment, will continue to drive a greater number of decisions, policy developments and programmes to restrict GHG emissions. These changes are likely to affect our business. Our response, and our management of climate change issues, can be grouped into four broad areas:
- Internal risk and materiality assessments
- Management of our energy and carbon footprint
- Proactive engagement with a range of stakeholders
- Support for the development of low-emission technologies
We have created a case study for our approach to climate change, based on our coal business. We have selected this division for our first case study as it is one that has attracted particular interest in the context of climate change.