Glencore intends to focus on investing in transition metals such as copper, cobalt and metals for a low carbon future when the company moves on to a new leadership team.
The company aims to reduce the size of emissions one, two and three by 40 percent (compared to 2019) by 2035 in order to achieve net zero emissions by 2050.
His strategy also includes working with customers and the supply chain on using low carbon materials and using technological solutions to improve resource efficiency.
Glencore’s chief executive officer Ivan Glasenberg, who will step down from his position next year, said the company is well positioned to meet demand for raw materials for renewable technologies.
« A significant portion of Glencore’s revenue comes from the metals and minerals that enable the transition to a low-carbon economy, » he said.
« With the world prioritizing renewable technologies, battery storage, and electric mobility, our business is well positioned to meet the growing demand for the raw materials that sustain these forward-thinking industries.
“Our ambition to be a net zero total emissions company by 2050 reflects our commitment to contributing to global efforts to achieve the goals of the Paris Agreement. ”
As one of the world’s largest suppliers of copper, cobalt and nickel, Glencore emphasized the need for these metals for batteries, electric vehicles and energy storage.
« The world will need many times more metal than is currently being produced, » said Glencore.
“Glencore has a large manufacturing area and a large number of projects in the raw materials needed to build renewable energy networks, electrify transport and meet everyday needs. ”
Glencore has also expressed support for its coal portfolio and stated that the sale will not reduce related emissions.
The company indicated that it could reduce its coal portfolio while maintaining its « high quality Australian coal reserves » as part of its good governance.
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Glencore, Ivan Glasenberg, Xstrata, CEO, Coal, Carbon Neutral
LevelMagazine – AU – Glencore Commits to Net Zero Emissions by 2050 – Australian Mining