CREATING A PATH TO NET ZERO
A growing number of IZA member companies have committed to climate change policies to reach net-zero Scope 1 and 2 GHG emissions by 2050. And an increasing number are now working on Scope 3 targets as well.
To help facilitate this process, IZA established the Climate Change Task Force (CCTF) in 2021, engaging company representatives and experts worldwide at all levels of the zinc value chain. By bringing together producers, suppliers, and customers, the CCTF will help foster partnerships that enable the development of a de-carbonization strategy for the whole zinc sector.
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.
The Zinc Carbon Footprint Guidance harmonizes data collection and reporting methods, while recognizing best practice for the industry’s unique structure, supply chains, raw materials, and down-stream uses.
IZA's Scope 3 Emissions Reporting and Accounting Guidance for the Zinc Value Chain aims to refine the Greenhouse Gas (GHG) Protocol standards for the global zinc industry. Well over 90% of our members already report their Scope 1 and 2 emissions, and many also report on Scope 3 emissions. Our Scope 3 guidance builds on the GHG Protocol Standard and the ICMM Scope 3 Guidance for the mining and metals sector, closing zinc-specific gaps. We are excited to share this final guidance with our members to support their commitment to transparent and harmonized reporting of GHG emissions.
Using the example of special high-grade zinc production, this paper explains the differences between carbon footprints for companies, materials, and products and for an industry sector. It overviews existing reporting schemes and highlights gaps and the need for guidance and harmonization. Furthermore, it introduces the baseline carbon footprint of the global zinc industry today and the next steps in developing a decarbonization roadmap for the global zinc industry.
Boliden has set the following climate targets:
- 40 percent reduction of absolute CO2 emissions in scope 1 and 2 by 2030, compared to 2021 as the base year
- 30 percent reduction of CO2 emissions in scope 3 by 2030, compared to 2021 as the base year
- Average for all copper production is set at the limit values for Low-Carbon Copper; <1.5 metric tonnes CO2e/t Cu
- Average for all zinc production is set at the limit values for Low-Carbon Zinc; <1 metric tonnes CO2e/t Zn
As a member company of The International Council of Mining and Metals (ICMM), we also share its long-term goal of net zero carbon emissions by 2050, which is 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 seeks to decarbonize its own operational footprint and support national programs that strive to achieve the goals of the Paris Agreement. Glencore has set 1.5°C-aligned targets, i.e. an absolute short-term total emissions (Scope 1, 2 and 3) reduction target of 15% by 2026 on 2019 levels, a medium target of 50% reduction of total emissions by 2035, and an ambition of net zero total emissions by 2050.
To learn more about Glencore’s climate change policy, visit their website at https://www.glencore.com/sustainability/esg-a-z/climate-change
• Reduce combined Scopes 1 and 2 emissions by 30% from 2019 baseline 2030
• 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
• 5% reduction in energy usage: Reduce energy intensity consumption from 2020 baseline levels by 2023
To learn more about Hecla's climate change policy view their Sustainability Report.
Hindustan Zinc Limited.
Hindustan Zinc Limited (HZL) has committed to Net Zero by 2050 in alignment with the Science-Based Targets Initiative (SBTi). In addition, HZL has committed to investing $1 billion in climate change actions over the next five years. Practical GHG reduction measures include the use of Battery Electric Vehicle (BEV) in underground mining and the expression of Interest (EOI) for the Supply of 300 MW of Renewable Energy.
To learn more about Hindustan Zinc Limited’s climate change policy, visit their website at https://www.hzlindia.com/media_press_releases/hindustan-zinc-commits-to-long-term-target-to-reach-net-zero-emissions-by-2050-in-alignment-with-science-based-targets-initiative-sbti/
Newmont is committed to addressing climate change with emission reduction targets of more than 30 percent reduction in Scope 1 and 2 emissions and 30 percent reduction in Scope 3 emissions by 2030, with an ultimate goal to be carbon neutral by 2050.
To learn more about Newmont’s climate change policy, visit their website at https://www.newmont.com/sustainability/sustainability-reporting/default.aspx
• 30% reduction in Scope 1 and Scope 2 GHG emissions by end of FY2023, and achieve a >50% reduction FY2032 compared to FY2020.
• 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.
Nyrstar’s sustainability metrics are reported publicly via the annual Trafigura Sustainability Report.
• 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 committed as a member of the International Council on Mining and Metals (ICMM) to a goal of net zero Scope 1 and 2 greenhouse gas emissions by 2050 or sooner in line with the ambitions of the Paris Agreement.
To learn more about Sumotomo's commitment to achieving net zero visit ICMM's site at https://www.icmm.com/netzero
- Achieve net-zero scope 2 emissions
- Replace equivalent of 1,000 internal combustion engine vehicles from fleets with zero-emission transportation alternatives.
- Reduce carbon intensity of operations by 33% based on 2020 baseline
- Support partners in reducing global carbon intensity of steelmaking by 30%
- Establish low-emission supply chain corridors, including support for a 40% reduction in shipping emission intensity, working with customers and transportation providers.
2050 goal: achieve net-zero emissions, ambition to achieve net-zero Scope 3 emissions.
To learn more about Teck's climate change policy view their Climate Change Strategy.
• 2030 Commitment: Absolute reduction of scope 1 emissions by 20%, electrical energy matrix entirety composed of renewable sources.
• 2040 Commitment: Reach neutrality of emissions by 2040, based on SBTi 2021 guidelines.
• 2050 Commitment: Reach net zero by 2050, based on SBTi 2021 guidelines.
To learn more about Nexa's climate change policy view their Climate Change Strategy.
- 35% reduction in Scope 1& 2 emissions by 2030 across end-of-2019 portfolio operations, against 2019 adjusted base year.
To learn more about Lundin's climate change policy view their 2022 Sustainability Report.
• 2050 net zero goal, and an interim target of a 40% reduction in Scope 1 and 2 emissions by 2030, from a 2020 baseline.
• Science-based targets aligned with restricting global warming to 1.5°C above pre-industrial levels.
• Driving Scope 3 emissions reductions in value chains and plan to release a target in 2023.
To learn more about MMG's climate change policy view their 2022 Sustainability Report.
• 24% of total electricity from renewable energy through the solar power plant and wind power generation projects built in 2018.
• Increase proportion of new and renewable energy to 85% by 2025, and 100% by 2040.
• Achieve 100% Green Zinc through 0% carbon emission (Net Zero) in 2050 through renewable energy projects and green hydrogen energy business.
To learn more about Korea Zinc's sustainability efforts visit their ESG webpage.
• 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.
To learn more about Penoles's sustainability efforts see their 2022 Sustainability Report.