REG - Antofagasta PLC - UPDATED EMISSIONS TARGETS

AntofagastaAnnouncement

16/02/2024 07:00

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RNS Number : 3377D  Antofagasta PLC  16 February 2024

NEWS RELEASE, 16 FEBRUARY 2024

 

UPDATED EMISSIONS TARGETS

50% REDUCTION IN SCOPE 1 AND 2 EMISSIONS BY 2035

Antofagasta plc (the "Company") announces that the Board of Directors (Board)
has approved updated greenhouse gas emissions targets, with the Company having
successfully met the Company's previous emissions target ahead of schedule in
2022. Following work to define a decarbonisation strategy, the following
targets have been set:

·    Scope 1 and 2 (combined): targeting a 50% reduction by 2035 (on basis
of absolute emissions)

·    Scope 3: targeting a 10% reduction by 2030 (on basis of a no-action
scenario of projected emissions)

In addition, the Company maintains its carbon neutral target for 2050.

The Company has developed a detailed decarbonisation strategy to accompany the
above targets, which is expected to be released alongside the Company's Annual
Report and Sustainability Report in March 2024. Scope 1 and 2 emissions target
is set against a baseline year of 2020 and account for the planned increase in
copper production during the envisaged time period. The Company's Scope 3
emissions target is set against projected emissions.

Antofagasta's CEO, Iván Arriagada said: "We are proud to announce today's
updated targets, which follows detailed work to further understand our current
emissions footprint, relevant technologies to support decarbonisation and our
pathway to net-zero copper production.

"Following the move to contract renewable power supply in 2022, which
materially reduced our Scope 2 emissions, we have identified a path to lower
both Scope 1 and 3 emissions as part of our decarbonisation strategy. On Scope
1 emissions, with diesel consumption representing approximately 90% of this
category, we are focused on the electrification of our mining haulage fleet,
initially through the use of trolley-assist technology, later supplemented by
battery electric vehicles as this technology develops and becomes more widely
available and cost effective. In parallel, we are implementing a range of
modern technologies, such as fleet automation at our mines, which will serve
to further enable electrification and decarbonisation in the future.

"With regards to our value chain emissions, we have identified that our
suppliers of goods and services represent more than 50% of our total Scope 3
emissions and we will be working to address this area through our Suppliers
for a Better Future programme that was launched in December 2022.

"We understand the importance of producing copper in a safe and responsible
manner, which is aligned with our purpose of developing mining for a better
future, and the targets announced today will help set a clear path for us to
follow in the coming years."

 

 

 Investors - London                                                                   Media - London
 Rosario Orchard      rorchard@antofagasta.co.uk (mailto:rorchard@antofagasta.co.uk)  Carole Cable   antofagasta@brunswickgroup.com (mailto:antofagasta@brunswickgroup.com)
 Robert Simmons       rsimmons@antofagasta.co.uk (mailto:rsimmons@antofagasta.co.uk)  Telephone      +44 20 7404 5959
 Telephone            +44 20 7808 0988

                                                                                      Media - Santiago
                                                                                      Pablo Orozco   porozco@aminerals.cl (mailto:porozco@aminerals.cl)
                                                                                      Carolina Pica  cpica@aminerals.cl (mailto:cpica@aminerals.cl)
                                                                                      Telephone      +56 2 2798 7000

 

 

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