CREATING A PATH TO NET ZERO

How the Zinc Industry Tracks Progress

There is a clear demand for “low carbon” and “green” products, highlighting the need for transparent and assured emissions reporting for making claims. While all IZA members have access to a full environmental profile for each asset through the global LCA, demands for carbon-specific assurance for sites and products have multiplied across the entire value chain.

Availability of Low-Carbon Zinc

There is growing interest in low-carbon zinc, zinc produced in part using renewable energy with a lower carbon footprint than conventionally produced zinc.

Several IZA members have developed low-carbon zinc brands, including Boliden, Hindustan Zinc, Nyrstar, and Teck – all offering a zinc product performing well below the global average of 3.5 tonnes CO2e/ tonne.

It is important to note that IZA does not define low-carbon zinc but does provide sustainability guidance for the Special High-Grade zinc carbon footprint calculation and reporting. In addition, IZA has managed the global Life Cycle Assessment for Special High-Grade zinc since 2006, showing the range of carbon emissions stemming from the production of zinc. This is based on IZA members providing their carbon footprint and Life Cycle Assessment information, and the Life Cycle Assessment reflects approximately 30% of the global zinc demand from more than 50 mines, smelters, and recyclers worldwide.

Member Highlights

Boliden

Boliden has set the following climate targets:

• Scope 1 and Scope 2: 42% lower absolute emissions in 2030 with 2021 as base year.
• Scope 3: 30% lower absolute emissions in 2030 with 2021 as base year.
• Product target for Copper and Zinc: Copper and Zinc production in 2030 with an
  average of 1.5 Kg and 1.0 Kg CO2 equivalents respectively per produced kg.
• Long term goal of net zero carbon emissions in Scopes 1 and 2 by 2050 in line with the ambitions set out in the Paris Agreement to keep the global temperature increase below 1.5 °C.

To learn more about Boliden's climate change policy, visit their website: https://www.boliden.com/sustainability/our-approach-to-sustainability/climate.

Glencore

• 15% reduction in our Scope 1, 2 and 3 emissions by the end of 2026 against a restated 2019 baseline.
• 50% reduction in our Scope 1, 2 and 3 emissions by the end of 2035 against a restated 2019 baseline.
• Net zero industrial emissions for Scope 1, 2 and 3 emissions by the end of 2050.

To learn more about Glencore’s climate change policy, visit their website at https://www.glencore.com/sustainability/esg-a-z/climate-change

Hecla Mining

• Reduce combined Scopes 1 and 2 emissions by 30% from our 2019 baseline.
• Net Zero carbon footprint: Maintain a net zero carbon footprint (Scopes 1 and 2) through absolute reductions and the purchase of carbon emission reduction credits.
• 24% reduction in energy usage: Reduce energy consumption from 2019 baseline levels.

To learn more about Hecla's climate change policy view their Sustainability Report.

Hindustan Zinc Limited.

• Hindustan Zinc has received validation on its near-term and net-zero targets by the Science Based Targets initiative (SBTi), including a commitment to reduce 50% of absolute scope 1 and 2 GHG emissions and further reduction of 25% of absolute scope 3 GHG emissions by 2030 from the base year 2020.
• Reduce fossil fuel-based energy usage, shifting to renewables and low-carbon
  solutions, and committing to net zero carbon emissions by 2050.
• Increase renewable energy portfolio by adding 450 MW of renewable energy projects by FY 2024-25, aiming to source about 50% of the electrical energy requirement from renewable energy sources.

To learn more about Hindustan Zinc’s SBTi commitment, please visit https://www.hzlindia.com/media_press_releases/the-sbti-validates-hindustan-zincs-near-term-long-term-net-zero-targets

Newmont

• Reduction targets of 32% for Scope 1 and Scope 2 and 30% for Scope 3 by 2030 with an ultimate goal of being carbon neutral by 2050.
• All sites to achieve annual water efficiency targets that support an overall reduction in fresh water of more than 5%, with sites in water-stressed areas to reduce overall freshwater consumption by at least 10% from the 2018 baseline.
• Maximize concurrent reclamation opportunities over the next five years (2024-2028).
• Map all nature-related risks and opportunities across our value chain, while implementing strategies to achieve or exceed No Net Loss of Biodiversity by project closure by 2030 and disclose material nature-related impacts, dependencies, risks, and opportunities for priority operations by 2026.

To learn more about Newmont’s climate change policy, visit their website at https://www.newmont.com/sustainability/sustainability-reporting/default.aspx

Nyrstar

• Reduce Scope 1 and Scope 2 GHG emissions by 30% by the end of FY2023 and by over 50% by FY2032 compared to FY2020, ultimately aiming for carbon neutrality by 2050.​
• 25% reduction in GHG emissions intensity of total shipping operations by end of FY2030 compared to 2019.
• Develop a renewable energy asset portfolio with a cumulative target capacity of 4GW by end of FY2025.
• Reduce Scope 3 upstream emissions intensity of non-ferrous metals by 10% by end of FY2030.
• Invest in renewable hydrogen projects with a total production capacity of 3GW by the end of FY2030.

Nyrstar’s sustainability metrics are reported publicly via the annual Trafigura Sustainability Report.

South32

• Long-term goal of achieving net zero operational (Scope 1 and 2) and value chain (Scope 3) GHG emissions by 2050.
• Achieved GHG emissions reduction target to keep Scope 1 GHG emissions below the FY15 baseline by FY21.
• Set medium-term target to halve operational GHG emissions by 2035 compared to FY21 baseline.

To learn more read South32’s climate change policy.

Sumitomo

• Reduction of GHG emissions through low-carbon products by 2030.
• Committed to a goal of net zero emissions by 2050.
• Development of CO2 fixation and absorption technology by 2050.

To learn more about Sumotomo's commitment to achieving net zero visit ICMM's site at https://www.icmm.com/netzero

Teck

•  Aims to reduce the carbon intensity of its operations by 33% by 2030.
• The company is committed to achieving net-zero Scope 2 emissions by 2025 and net- zero Scope 3 emissions by 2050 with supporting short-term goals.
• Plans to accelerate the adoption of zero-emissions alternatives for transportation by displacing the equivalent of 1,000 internal combustion engine vehicles by 2025.
• Aims to conserve or rehabilitate at least three hectares for every one hectare affected by mining activities to achieve a net positive impact on biodiversity by 2030.
• The company also plans to transition to seawater or low-quality water sources for all operations in water-scarce regions by 2040.

To learn more about Teck's climate change policy view their Climate Change Strategy.

Nexa Resources

• Aims to achieve an absolute reduction of scope 1 emissions by 20% by 2030, with a focus on renewable energy sources. The company plans to reach net neutrality by 2040 and become net zero by 2050, aligning with SBTi 2021 guidelines.
• Committed to responsible water resource management by reducing water usage, enhancing reuse, and ensuring strict effluent standards.

To learn more about Nexa's climate change policy view their Climate Change Strategy.

Lundin Mining

• 35% reduction in Scope 1 and 2 emissions by 2030 across their end-of-2019 portfolio operations, against 2019 adjusted base year.

To learn more about Lundin's climate change policy view their  2022 Sustainability Report.

MMG Limited

• The company is committed to achieving net zero carbon emissions by 2050, aligning with global efforts to combat climate
• MMG has set an interim target to reduce GHG emissions by 40% from a 2020 baseline by 2030, demonstrating its commitment to mitigating climate change aligning with science-based methodologies to help reduce global warming to 1.5°C, in line with Paris Agreement
• The company aims to work towards achieving net zero Scope 3 emissions by 2050.

To learn more about MMG's climate change policy view their  2022 Sustainability Report.

Korea Zinc

• Carbon Neutrality by 2050: Achieve 100% carbon neutrality across Scope 1 and 2 emissions by 2050.
• Renewable Energy Transition: RE100 (100% renewable energy use) targeted by 2050.
• Hydrogen Production Expansion: Increase green hydrogen production to 200,000 tons per year by 2030.
• Reduce production energy intensity (KEEP30 initiative) by 1% per year for the next five years (2023–2027).

To learn more about Korea Zinc's sustainability efforts visit their  ESG webpage.

Penoles

• A goal for 2028 is that electricity consumption in all operations will come from clean sources to the extent that the national regulatory framework allows. 
• Renewable Energy: 48% of energy consumption in 2023 came from renewable wind energy. Plans to expand renewable energy sources to further reduce emissions.
• Emission Reduction: 9.5% reduction in Scope 1 emissions from 2022 to 2023. 17.49% reduction in Scope 2 emissions from 2022 to 2023. Strategic decarbonization roadmap under development for future reductions.
• Water Use and Efficiency: 78% of water used in operations is reused, with ongoing efforts to optimize recirculation.
• Alternative Fuels: Exploring hydrogen and green ammonia to reduce vehicle and equipment emissions.

To learn more about Penoles's sustainability efforts see their  2022 Sustainability Report.