The world’s top miners have committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, according to the International Council on Mining and Metals (ICMM).
“ICMM members’ collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history,” said ICMM CEO Rohitesh Dhawan in an open letter signed by the 28 leaders from the world’s largest miners.
ICMM CEO Rohitesh Dhawan. Image credit: Twitter @RohiteshDhawan
The announcement comes before next month’s U.N. climate gathering that aims to achieve more ambitious climate action from the nearly 200 countries that signed the 2015 Paris Agreement to limit global warming.
Many miners including Anglo American (AAL.L), Rio Tinto (RIO.L) and BHP (BHPB.L), under pressure from environmental activists and shareholders, have already committed to net zero by 2050 in direct and indirect emissions.
However, the collective commitment, “represents a joint ambition from companies that make up one third of the global mining and metals industry,” the ICMM said.
Its 28 members, whose operations span 650 sites over 50 countries, will report annually on their progress to decarbonize annually.
ICMM members, which include Barrick Gold (ABX.TO) and Alcoa, have collectively cut emissions by six per cent between 2016-2018.
Featured image by Getty Images.