Glencore Pledges to Cut Net-Zero Emissions by 40% by 2035
By Jaime Llinares Taboada
Glencore PLC on Friday pledged to reduce its emission footprint
by 40% by 2035--compared with 2019 levels--through investing in
metals and reducing coal production.
The FTSE 100 miner also stated its ambition of achieving
net-zero emissions by 2050 with a supportive policy
Glencore's commitment targets scope 1, 2 and 3 emissions, which
include all indirect emissions that occur in the company's value
Chief Executive Ivan Glasenberg said that Glencore is one of the
largest producers of copper, cobalt and nickel--metals that will be
essential in the transition to a low-carbon economy. "As the world
prioritizes renewable technologies, battery storage and electric
mobility, our business is well-positioned to meet the growing
demand for the commodities that underpin these future focused
industries," he said.
However, the CEO said fossil fuels will continue to be important
for many years to come, and coal production will remain a part of
Glencore's business. "We do not believe that selling our coal mines
would help reduce the associated emissions," Mr. Glasenberg
Glencore in October said that it expects to produce around 109
million tons of coal, 1.25 million tons of copper, 28,000 tons of
cobalt, and 114,000 tons of nickel in 2020.
Write to Jaime Llinares Taboada at email@example.com;
(END) Dow Jones Newswires
December 04, 2020 08:18 ET (13:18 GMT)
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