ICMM Members Commit to Net Zero Scope 1 and 2 GHG Emissions by 2050 or Sooner

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Members of ICMM have committed to a goal of net zero Scope 1 and 2 greenhouse gas (GHG) emissions by 2050 or sooner, in line with the ambitions of the Paris Agreement.

Although members have individual decarbonisation targets which in some cases go beyond ICMM’s collective commitment, this represents a joint ambition. The rate and nature of the ultimate decline in emissions will vary across the different commodities and geographies represented by our diverse membership. Yet our approach to individually setting and meeting targets will be consistent and include the following, no later than the end of 2023 where these do not already exist:

— *Setting Scope 1 and 2 Targets:* We will build clear pathways to achieving net zero Scope 1 and 2 GHG emissions by 2050 or sooner, through meaningful short and/or medium-term targets.

— *Accelerating Action on Scope 3 GHG Emissions:* We recognise that Scope 3 is critical to minimising our overall impact and we will set Scope 3 targets, if not by the end of 2023, as soon as possible. Although all Scope 3 action depends on the combined efforts of producers, suppliers and customers, some commodities face greater technological and collaborative barriers than others. We will play a leading role in overcoming these barriers and advancing partnerships that enable credible target-setting and emission reductions across value chains.

— *Covering all Material Sources:* Our targets will cover all material sources of emissions, aligning to the GHG Protocol definition of organisational boundaries and materiality.

— *Focussing on Absolute Reductions:* For some operations, intensity rather than absolute targets may be more appropriate in the short and medium term. Where intensity targets are used, we will disclose the corresponding absolute increase or decrease in GHG emissions.

— *Applying Robust Methodologies:* We will use target-setting methodologies that are aligned with the ambitions of the Paris Agreement and disclose in detail the assumptions we use.

— *Disclosing Openly and Transparently:* We will report our progress on Scopes 1, 2 and 3 annually, obtain external verification over our performance, and report in alignment with the recommendations of the Task Force on Climate-related Financial Disclosures.

These commitments are additional to and have been incorporated into an update of ICMM’s Climate Change Position Statement which had several pre-existing commitments on performance and disclosure. Action on climate change is an integral part of ICMM’s Mining Principles, representing the comprehensive commitment to a responsible mining and metals industry.