Freeport-McMoRan Publishes Climate Report and Announces Net Zero Aspiration
September 30 2021 - 8:00AM
Business Wire
Freeport-McMoRan Inc. (NYSE: FCX) today announced the
publication of its updated Climate Report which details the work
underway across its global business to reduce greenhouse gas (GHG)
emissions, improve energy efficiency, advance the use of renewable
energy and understand and enhance the company’s resilience to
future climate-related risks. The Climate Report reflects the
company’s continued progress towards alignment with the current
recommendations of the Task Force on Climate-related Financial
Disclosures (TCFD).
Richard C. Adkerson, Chairman and Chief Executive Officer
said: “As both a major consumer of energy, and as one of the
world’s largest producers of the copper essential to enable the
global energy transition, Freeport aspires to participate in, and
positively contribute to, a 2050 net zero economy. Our path to net
zero carbon emissions will require industry-wide new technological
solutions and innovation. We embrace these challenges and are
focused on achieving meaningful progress through our internal
efforts and through collaboration with industry partners. We are in
the process of integrating our climate initiatives into our
long-term business plans as we work to responsibly produce copper
for the benefit of all stakeholders.”
In 2020, FCX published its inaugural climate report, established
a 15% GHG emissions intensity reduction target for the Americas
copper business by 2030, and committed to aligning its future
climate reports with the recommendations of the TCFD.
In 2021, FCX established a new 30% GHG emissions intensity
reduction target for its Indonesian operations by 2030. FCX also
completed its first global climate scenario analysis, enhanced
climate expertise on its Board of Directors, directly linked
climate performance with its annual executive compensation program
and advanced its analysis of renewable energy opportunities in the
southwestern United States.
FCX is actively involved in various industry initiatives that
are focused on climate, including the International Council on
Mining and Metals and the International Copper Association. In
addition, FCX is a patron supporter of the Charge on Innovation
Challenge, a new global industry initiative aimed at developing
effective solutions for large-scale haul truck electrification
systems.
To learn more about FCX’s climate strategy and progress, please
read FCX’s 2020 Climate Report, available on the company website
at:
https://www.fcx.com/sites/fcx/files/documents/sustainability/2020-Climate-Report.pdf
FREEPORT: Foremost in Copper
FCX is a leading international mining company with headquarters
in Phoenix, Arizona. FCX operates large, long-lived, geographically
diverse assets with significant proven and probable reserves of
copper, gold and molybdenum. FCX is one of the world’s largest
publicly traded copper producers.
FCX’s portfolio of assets includes the Grasberg minerals
district in Indonesia, one of the world’s largest copper and gold
deposits; and significant mining operations in North America and
South America, including the large-scale Morenci minerals district
in Arizona and the Cerro Verde operation in Peru.
By supplying responsibly produced copper, FCX is proud to be a
positive contributor to the world well beyond its operational
boundaries. Additional information about FCX is available on FCX's
website at fcx.com.
Cautionary Statement Regarding Forward-Looking
Statements: This press release contains forward-looking
statements, which are all statements other than statements of
historical facts, such as plans, projections, expectations,
targets, objectives, strategies or goals relating to future
execution of FCX’s energy and climate strategies and the underlying
assumptions and estimated impacts on FCX’s business related
thereto. The words “anticipates,” “may,” “can,” “plans,”
“believes,” “estimates,” “expects,” “endeavor,” “seek,” “goal,”
“predict,” “strategy,” “projects,” “targets,” “intends,” “aspires,”
“likely,” “will,” “should,” “could,” “to be,” ”potential,”
“assumptions,” “guidance,” “future” and any similar expressions are
intended to identify those assertions as forward-looking
statements.
FCX cautions readers that forward-looking statements are not
guarantees of future performance and actual results may differ
materially from those anticipated, expected, projected or assumed
in the forward-looking statements. Important factors that can cause
FCX’s actual results to differ materially from those anticipated in
the forward-looking statements include, but are not limited to, the
factors described under the heading “Risk Factors” in FCX’s Annual
Report on Form 10-K for the year ended December 31, 2020, filed
with the U.S. Securities and Exchange Commission (SEC), and
available on FCX’s website at fcx.com.
Investors are cautioned that many of the assumptions upon which
FCX's forward-looking statements are based are likely to change
after the forward-looking statements are made. Further, FCX may
make changes to its business plans that could affect its results.
FCX cautions investors that it undertakes no obligation to update
any forward-looking statements, which speak only as of the date
made, notwithstanding any changes in its assumptions, changes in
business plans, actual experience or other changes.
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Financial Contacts: Kathleen L. Quirk (602) 366-8016 David P.
Joint (504) 582-4203 Media Contact: Linda S. Hayes (602)
366-7824
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