NORDEN and Teck Announce Emission Reduction Freight Contract
August 15 2023 - 6:03PM
NORDEN and Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE:
TECK) (“Teck”) today announced an agreement to reduce CO² emissions
in Teck’s steelmaking coal supply chain.
The agreement is expected to reduce annual emissions from Teck
shipments handled by NORDEN by 25%, or up to 6,700 tonnes of CO²,
equivalent to removing over 1,400 passenger vehicles from the
road.
NORDEN will achieve emission reductions by utilising a range of
solutions, including the use of fuel-efficient ships and
alternative fuels such as biofuel in combination with an
intelligent use of advanced data analytics to optimise vessel speed
and routing.
“This innovative partnership with NORDEN is expected to reduce
Scope 3 emissions associated with transportation of Teck’s
steelmaking coal, reducing our carbon footprint and advancing
progress developing green transportation corridors,” said Jonathan
Price, CEO, Teck. “Working with transportation providers like
NORDEN to reduce emissions downstream of our business furthers our
progress towards achieving our net zero by 2050 goal.”
“With this initiative, we are now able to design
customer-tailored freight emission contracts where we leverage our
combined expertise to develop unique solutions that support our
customers’ ambitions to lower their supply chain emissions,” said
NORDEN CEO Jan Rindbo. “NORDEN’s strategy of helping our customers
decarbonise their supply chains means that we in addition to
committing to carbon neutrality in 2050, have short to medium-term
commitments, where our goal is to make carbon emission reductions
towards 2030.”
The emission reduction freight contract is one of several of
NORDEN’s climate solutions for customers. Learn more about NORDEN’S
climate solutions here.
As part of Teck’s Sustainability Strategy, Teck has goals to
reduce carbon intensity across operations by 33% by 2030 and be a
carbon-neutral operator by 2050. Click here to learn more about
Teck’s approach to taking action on climate change.
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Forward-Looking StatementsThis press release
contains certain forward-looking statements within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and forward-looking information as defined in the Securities
Act (Ontario). The forward-looking statements relate
to expectations with respect to the realized amount of
CO2emissions reduction and our long-term sustainability
strategy, including but not limited to our 2030 and 2050
goals. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. The forward-looking statements in
this press release are based on assumptions regarding commodity
prices, general economic conditions and the performance of our
business, achievement of emissions reduction in line with
expectations, as well as our ability to achieve our climate
goals and the longer term impacts of those goals on our
business, among other matters. The foregoing list of
assumptions is not exhaustive. Factors that may cause actual
results to vary include, but are not limited to, changes in
commodity prices or general economic conditions, actual
climate-change consequences, adequate technology not being
available on acceptable terms, and changes in laws and governmental
regulations or enforcement thereof that impact our operations or
strategy. We assume no obligation to update forward-looking
statements except as required under securities laws.
Further information concerning risks and uncertainties
associated with these forward-looking statements can be found in
our annual information form for the year ended December 31, 2022,
filed under our profile on SEDAR (www.sedarplus.ca) and on EDGAR
(www.sec.gov) under cover of Form 40-F, as well as subsequent
filings under our profile.
About TeckAs one of Canada’s leading mining
companies, Teck is committed to responsible mining and mineral
development with major business units focused on copper, zinc, and
steelmaking coal. Copper, zinc and high-quality steelmaking coal
are required for the transition to a low-carbon world.
Headquartered in Vancouver, Canada, Teck’s shares are listed on the
Toronto Stock Exchange under the symbols TECK.A and TECK.B and the
New York Stock Exchange under the symbol TECK. Learn more about
Teck at www.teck.com or follow @TeckResources.
About NORDEN NORDEN offers dry cargo and
product tankers services globally, from our 14 offices across 6
continents. We’re an integrated part of the global commodity trade
– delivering reliable, safe and compliant transport solutions to
our customers all over the world. Listed on Copenhagen’s OMX Nordic
Large Cap index, we’ve for the past 152 years offered our customers
and shareholders industry-leading operator activities and cyclical
exposure to the global markets, implemented by a highly skilled
organisation.
Teck Investor Contact:Fraser PhillipsSenior
Vice President, Investor Relations & Strategic
Analysis604.699.4621fraser.phillips@teck.com
Teck Media Contact:Chris Stannell Public
Relations Manager604.699.4368chris.stannell@teck.com
NORDEN Contact:Anne-Louise Dam-Rasmussen, Head
of Communications ald@norden.com(+45) 21 56 15 64
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