{"id":1182154,"date":"2020-05-04T10:50:41","date_gmt":"2020-05-04T15:50:41","guid":{"rendered":"https:\/\/www.mining.com\/?p=1022650"},"modified":"2020-05-04T10:50:41","modified_gmt":"2020-05-04T15:50:41","slug":"most-top-miners-failing-paris-agreement-goals","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1182154","title":{"rendered":"Most top miners failing Paris Agreement goals"},"content":{"rendered":"<p>Eight of the world\u2019s top ten largest mining companies are not doing enough to help <a href=\"https:\/\/www.mining.com\/featured-article\/social-investors-emissions-reduction-efforts-to-shape-minings-short-term-future-report\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">meet international climate goals<\/a>, research by a UK-based investor initiative set up by the Church of England reveals.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Transition Pathway Initiative (TPI)\u2019s study, <a href=\"https:\/\/www.transitionpathwayinitiative.org\/tpi\/publications\/56.pdf?type=Publication\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">published on Monday<\/a>, shows that only Freeport-McMoRan (NYSE: FCX) and Grupo Mexico (BMV: GMEXICOB) have lowered carbon emission enough to keep global temperatures from increasing by less than\u00a02 \u00b0C a year by 2050.<\/p>\n<p>TPI\u2019s report shows that Glencore (LON:<br \/>\nGLEN) and Anglo American (LON: AAL) are currently within the 2 \u00b0C benchmark set<br \/>\nin the 2015 Paris Agreement on climate change. Their emissions pathways,<br \/>\nhowever, are too flat to keep them on track to comply with the accord\u2019s goals, it<br \/>\nsaid.<\/p>\n<p>Glencore\u2019s <a href=\"https:\/\/www.mining.com\/more-heads-to-roll-at-glencore-this-year\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">plans to cut \u201cScope 3\u201d emissions<\/a> \u2014 those \u00a0produced when customers burn or process a company\u2019s raw materials \u2014 by 30% by 2035 are promising, but do not include its marketing activities.<\/p>\n<p>TPI noted that stated <a href=\"https:\/\/www.mining.com\/bhp-earmarks-400-million-to-reduce-emissions-from-its-mines-products\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">net zero ambitions from BHP<\/a> (ASX, LON, NYSE: BHP), Rio Tinto (ASX, LON, NYSE: RIO) and Vale (NYSE: VALE) only cover operational emissions, typically just 6% of the emissions the entity measures. <\/p>\n<p>As a result, the miners, which are the world\u2019s three largest iron ore producers, are actually further away from alignment in 2050 than they are today, the study notes.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/carbon-performance-top-10-miners.jpg\" alt=\"Most top miners failing Paris Agreement goals\" class=\"wp-image-1022653\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/carbon-performance-top-10-miners.jpg 1018w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/carbon-performance-top-10-miners-300x224.jpg 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/carbon-performance-top-10-miners-768x573.jpg 768w\" sizes=\"(max-width: 1018px) 100vw, 1018px\" \/><figcaption><em>Courtesy of <a href=\"https:\/\/www.transitionpathwayinitiative.org\/tpi\/publications\/56.pdf?type=Publication\"  rel=\"noopener noreferrer\"> The Transition Pathway Initiative.<\/a><\/em><\/figcaption><\/figure>\n<p>The highly polluting process of<br \/>\nmaking steel, involves adding coking coal to iron ore to make the alloy, and is<br \/>\nresponsible for up to 9% of global greenhouse emissions.<\/p>\n<p>Rio Tinto\u2019s&nbsp;<a href=\"https:\/\/www.mining.com\/rio-tintos-1bn-spend-to-reach-zero-emissions-not-enough-analysts\/\"  rel=\"noreferrer noopener\">new carbon emissions reduction targets<\/a>&nbsp;have triggered<br \/>\nheated criticism from some investors and environmental groups, despite the<br \/>\ncompany vowing to spend $1 billion over the next five years to reduce its<br \/>\ncarbon footprint.<\/p>\n<p>Market Force, a subsidiary of activist investor Friends of the Earth,\u00a0<a href=\"https:\/\/www.mining.com\/rio-tinto-emission-targets-has-investors-green-groups-up-in-arms\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said in March<\/a> that the company\u2019s announcement was a \u201csimply a reflection of business-as-usual\u201d energy cost savings and efficiency measures.<\/p>\n<p>\u201cRio Tinto is essentially telling<br \/>\nits shareholders it is aware of a massive financial liability sitting on its<br \/>\nbooks, but isn\u2019t planning to manage that risk down,\u201d executive director Julien<br \/>\nVincent said.<\/p>\n<p>TPI is a global initiative founded<br \/>\nin 2017. It\u2019s now supported by over 60 investors with combined assets of over $18<br \/>\ntrillion under management.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eight of the world&rsquo;s top ten largest mining companies are not doing enough to help meet international climate goals, research by a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,369,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1182154"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1182154"}],"version-history":[{"count":7,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1182154\/revisions"}],"predecessor-version":[{"id":1182202,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1182154\/revisions\/1182202"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1182154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1182154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1182154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}