Mining and metallurgical companies (MMC) across the globe are urged to embrace a new guidance on reducing Scope 3 emissions published by the International Council for Mining and Metals (ICMM) in December.
There are three scopes of emissions reduction. The Scope 1 category covers direct emissions from an organization's facilities. Scope 2 covers emissions from electricity purchased by the organization. Scope 3 covers other indirect emissions, including those from general suppliers and use of the organization’s products.
According to Mining Weekly, the guidance is a tool to assist mining companies in their engagement with the financial sector, investors, regulators, suppliers, customers and other mining sector stakeholders on Scope 3 emissions, which are a critical area of concentration for the mining and metals industry as they represent up to 95% of a company’s total emissions for some commodities.
ICMM emphasized the importance of transparency and engagement with suppliers, customers, investors and regulators in setting targets, to help accelerate emissions reduction throughout the value chain. Acknowledging the differences in commodities and value chains, the guidance provides mining and metals-specific context around commonly used approaches rather than endorsing a specific methodology.
“As the discussions at COP28 have made clear, each sector bears the responsibility to understand its part in the broader system and extend beyond immediate boundaries to unearth solutions to stubborn sources of emissions,” ICMM CEO Rohitesh Dhawan stated in a release to Mining Weekly.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
