Insight
Metals and mining scope 3 targets: unearthing a pathway to a net zero supply chain
Report summary
In this two-part series of insights, we delve into metals and mining companies' pursuit of a net zero supply chain. Part 1 explores the challenges posed by scope 3 emissions and the strategies embraced by miners like BHP, Fortescue, Glencore, South32, and Teck, as they strive for net zero scope 3 targets. We assess the following aspects of scope 3: - How significant are supply chain emissions in metals and mining? - What challenges do companies face in addressing scope 3 emissions? - How do companies differ in scope 3 targets? In this insight, we present the approaches being employed and set the scene for Part 2, which guides companies in selecting optimal scope 3 strategies for different commodities.
Table of contents
- Unearthing a pathway to supply-chain net zero
- Executive summary
- Major mining companies’ scope 3 emissions are 4% of global emissions
- Mining sector has been at the vanguard of climate ambition
- For most miners, the majority of emissions are downstream scope 3 emissions
- Scope 3 targets are hindered by a lack of recognised, comprehensive pathways
- Consensus lacking on scope 3
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Four broad scope 3 strategies have emerged in metals and mining
- 1. Technology development
- 2. Transition-focused pivot (including M&A)
- 3. In-house offsets
- 4. Supply chain optimisation
- Part 2 of this insight guides companies on selecting the optimal scope 3 strategies for different commodities
Tables and charts
This report includes 5 images and tables including:
- Company scope 3 as a proportion of global GHG emissions from energy combustion and industrial processes
- Diversified miners’ scope 1, 2 and 3 breakdown versus other primary industries
- Carbon targets of diversified mining companies
- Major miners’ transactions by value since 2015 (US$ billion )
- Strategies and timelines for expected implementation of carbon offsets
What's included
This report contains:
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