REG-Polymetal International plc Polymetal: Climate Change Report 2021

Polymetal International PKAnnouncement

27/04/2021 07:05

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Polymetal International plc (POLY)
Polymetal: Climate Change Report 2021

27-Apr-2021 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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Release time IMMEDIATE                                                          LSE, MOEX, AIX: POLY / ADR:
             AUCOY
Date         27 April 2021

 

Polymetal International plc

Climate Change Report 2021

Polymetal publishes its first Climate Change Report ("Report") setting a strategic goal to reduce  Greenhouse
Gas ("GHG") emission intensity by 30% by 2030.

"Polymetal is fully  committed to combat  climate change. Today  we publicly announce  our ambitious  10-year
target to cut our GHG emission  intensity by 30% by 2030", said  Vitaly Nesis, Group CEO of Polymetal.  "This
initiative is supported by detailed action plan and becomes a part of the company-wide motivation system."

In the Climate Change Report 2021,  Polymetal commits to the following  targets based on the Paris  Agreement
principles (to be in line with a "2 degrees" trajectory):

  • Reduce GHG emission intensity per ounce of gold equivalent by 30% by 2030 (2019 baseline, covering Scopes
    1 and 2) including the intermediate target of 15% reduction by 2025.
  • Reduce absolute GHG emissions by 35% by 2030.
  • Develop long-term GHG reduction goals until 2050 by the end of 2022.
  • Develop the plan to achieve carbon neutrality by the end of 2022.
  • Set Scope 3 targets by the end of 2022.

To achieve these  goals, Polymetal  has developed a  comprehensive programme  that includes a  wide range  of
projects, including:

  • Development of own solar and wind power plants at or near Polymetal operations;
  • Investment in grid connections to remote assets  and procurement of electricity supplies with the  lowest
    available carbon footprint;
  • Electrification of mobile mining fleet;
  • Continuous improvement of energy efficiency.

The Company estimates  that these  projects will  require nearly US$  850 million  CAPEX in  2021-2030 to  be
incurred by Polymetal including US$ 450 million of  additional spending not included in the previous  Group's
CAPEX guidance. The updated CAPEX guidance is published in our Analyst & Investor Day presentation  available
on                     the                      Company's                     website                      at
 1 https://www.polymetalinternational.com/en/investors-and-media/reports-and-results/presentations/.

Furthermore, the Report contains information  on specific carbon footprint  reduction projects at our  mines,
our climate scenarios, approach to managing climate-related risks and opportunities (including governance and
strategy features).

The qualitative and  quantitative data  disclosed in  the Report  has been  prepared in  accordance with  the
recommendations of the Financial Services Board's Task Force on Climate-related Financial Disclosures  (TCFD)
and accompanies our annual submissions under the CDP.

The Climate Change Report 2021 is available on the Company's website at
 2 https://www.polymetalinternational.com/en/sustainability/environment/#climate-change-and-energy-management

Additionally, new Climate Change Policy was approved by the Board of Directors Polymetal International plc on
15 April 2021 and published on the Company's website. The Climate Change Policy introduces an approach for
evaluating the impact caused by the changing climate on the Group's operations, cutting greenhouse gas
emissions, and improving energy efficiency wherever the Group operates, taking account of good international
practice and the goals of the Paris Agreement.

The document is available at
https://www.polymetalinternational.com/en/investors-and-media/disclosure-center/corporate-documents/#policies

 

About Polymetal 

Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group")  is
a top-10 global gold  producer and top-5  global silver producer  with assets in  Russia and Kazakhstan.  The
Company combines strong growth with a robust dividend yield.

Enquiries

    Media                                                   Investor Relations
                                                        Polymetal           3 ir@polymetalinternational.com
FTI Consulting
                                                        Evgeny Monakhov    +44 20 7887 1475 (UK)
Leonid Fink                            +44 20 3727 1000
                                                        Timofey Kulakov     
Viktor Pomichal
                                                        Kirill Kuznetsov   +7 812 334 3666 (Russia)
    Joint Corporate Brokers                                  
Morgan Stanley & Co. International plc +44 20 7425 8000

Andrew Foster                           
                                                        RBC Europe Limited
Richard Brown                           
                                                        Marcus Jackson     +44 20 7653 4000
Panmure Gordon                          
                                                        Jamil Miah
Daniel Norman                           

John Prior                             +44 20 7886 2500

 

Forward-looking statements

This release may include  statements that are, or  may be deemed to  be, "forward-looking statements".  These
forward-looking statements speak only as at the date of this release. These forward-looking statements can be
identified by the use of forward-looking  terminology, including the words "targets", "believes",  "expects",
"aims", "intends", "will", "may", "anticipates", "would", "could"  or "should" or similar expressions or,  in
each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future
events or intentions. These forward-looking statements all include matters that are not historical facts.  By
their nature,  such forward-looking  statements involve  known  and unknown  risks, uncertainties  and  other
important factors  beyond  the  company's  control  that could  cause  the  actual  results,  performance  or
achievements of the  company to  be materially  different from  future results,  performance or  achievements
expressed or  implied  by such  forward-looking  statements. Such  forward-looking  statements are  based  on
numerous assumptions regarding the company's  present and future business  strategies and the environment  in
which the  company will  operate in  the  future. Forward-looking  statements are  not guarantees  of  future
performance. There  are  many  factors  that  could  cause  the  company's  actual  results,  performance  or
achievements to  differ materially  from those  expressed  in such  forward-looking statements.  The  company
expressly  disclaims  any  obligation  or  undertaking  to  disseminate  any  updates  or  revisions  to  any
forward-looking statements contained herein to reflect any  change in the company's expectations with  regard
thereto or any change in events, conditions or circumstances on which any such statements are based.

 

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   ISIN:          JE00B6T5S470
   Category Code: MSCM
   TIDM:          POLY
   LEI Code:      213800JKJ5HJWYS4GR61
   Sequence No.:  100680
   EQS News ID:   1188399


    
   End of Announcement EQS News Service

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References

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