Today we update our performance against our position statement and for the first time disclose a Scope 3 emissions projection for our business.
Key highlights include:
- Paris-consistent strategy/capital discipline
- We project a c.30% reduction in Absolute Scope 3 emissions by 2035. This includes natural depletion of our oil and coal resource base over time.
- Our 2019 capital expenditure was weighted towards energy transition materials, including African copper and cobalt and nickel in Canada.
- New Scope 1 and 2 targets
- We are on track to achieve a near doubling our first GHG reduction target of reducing emissions intensity by at least 5% by 2020 compared to a 2016 base line. We expect to achieve a c.10% reduction.
- New longer-term Scope 1 and 2 targets that support the Paris goals will be announced during 2020.
- Alignment with TCFD
- We continue to implement the recommendations of the TCFD in our annual reporting. Details of our performance will be published in our Annual Report 2019 in late February 2020.
- We are incorporating climate change into operational planning, most recently in our new Tailings Storage Facility protocol.
For further information please contact:
t: +41 41 709 2880
m: +41 79 737 5642
t: +41 41 709 3269
m: +41 79 197 4202
t: +41 41 709 24 62
m: +41 79 904 33 20
t: +41 41 709 34 26
m: +41 79 737 55 82
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by its global marketing network.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 160,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.