Today, Newmont Corporation (NYSE: NEM, TSX: NGT) published its 2021 Climate Report, the Company’s annual report prepared in alignment with the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The report outlines how Newmont understands and is addressing climate change — from reducing our greenhouse gas emissions, to managing risks, to enhancing resilience within the Company and neighboring communities.
“Climate change, and its impact on our world, continues to be one of the greatest global challenges. It is our responsibility to work alongside government, investors and communities to effect change,” said Newmont President and CEO Tom Palmer. “Newmont is addressing these challenges by setting science-based emissions reduction targets and leveraging our size, scale and resources to build strategic alliances to develop future technologies. We are driven by our commitment to our purpose — to create value and improve lives through sustainable and responsible mining.”
Highlights from the Climate Report include:
- Climate scenario analysis: Updates to the detailed climate risk scenarios and assumptions Newmont uses in understanding the risks associated with climate change on our business, strategies and financial resilience. Included in the updates is a new ”Accelerated Response” scenario that includes an emissions trajectory consistent with limiting global temperature to 1.5o C , which is in accordance with the International Energy Agency’s World Energy Model Net Zero Emissions by 2050 scenario;
- Pathways to achieving 2030 reduction targets and our 2050 goal to be carbon neutral: Newmont has set absolute and intensity-based targets with a reduction of 32% for Scope 1 and 2 emissions and 30% for Scope 3 emissions by 2030, with the ultimate goal to be carbon neutral by 2050. In 2021, our 2030 targets were reviewed and validated by the Science Based Targets initiative (SBTi). The report provides pathways for achieving those targets, including potential investments into renewable energy projects and converting power purchase agreements to reduce emissions by more than one million tons of carbon per year. The report further examines the technology focus areas and partnerships necessary to help us achieve our 2050 goal; and
- Energy and emissions performance: Site-level and consolidated data for 2021, along with trailing five-year data are included in the report to provide clarity on our consumption of both fuels and energy, as well as progress toward our targets.
Newmont’s Climate Report complements our recently published 2021 Sustainability Report and reinforces our commitment to provide stakeholders with a transparent and detailed look at our environmental, social and governance (ESG) performance and practices. An executive summary of the Climate Report and Sustainability Report is also available on Newmont’s website.
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.