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Zijin Mining Releases Climate Change Action Plan
2023/02/14 4178

Zijin Mining Releases Climate Change Action Plan

Zijin News - On January 30, Zijin Mining released the Climate Change Action Plan, an effort to limit the global temperature rise within 2°C above pre-industrial levels by the end of the century. It sets out three objectives:

· Achieving carbon peaking by 2029 and carbon neutrality by 2050, one year and ten years ahead of the Chinese government's target years, respectively;

· Lifting the share of renewables in the energy mix to more than 30% by 2030;

· Reducing GHG per unit of value added by 20% by 2025 and 38% by 2029, with 2020 as the baseline year.

1.Sustainability Commitment Reinforced

As a global miner, Zijin is committed to the mission of mining for a better society and the fundamental value of development for all. It has embraced the renewable energy revolution by acquiring assets of renewable energy minerals. In addition, it has been applying energy-saving and emission-reduction technologies such as carbon capture, utilization, and storage (CCUS) across the value chain. These efforts will underpin the company's progress toward a green and sustainable future.

The Climate Change Action Plan was released after the company announced the Three-Year (2023-2025) Plan and Development Goals for 2030, where it defines its overall strategic goal as becoming “a green, high-tech, leading global mining company”.

Consistent with this goal, the Climate Change Action Plan was prepared in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, the first in the Chinese non-ferrous industry. In addition, its targets are benchmarked against leading global mining companies, reflecting Zijin’s aspiration to be a leading green global miner and reinforcing its image as a responsible company.

2.Contributing to Climate Change Response

The Plan maps out three climate-change coping strategies.

First, it will extend its value chain from the mining sector upstream to advanced materials downstream. This will enable the company to supply high-quality metals and other materials for the renewable energy revolution and the global low-carbon shift;

Second, the company will develop green finance, cut carbon emissions across the supply chain, and lead technological cooperation and breakthroughs to decarbonize the entire value chain;

Third, it will implement effective measures to save energy and reduce carbon footprints across the value chain.

3.Three Steps to Go Carbon Neutral

The Plan also lays out a three-phased approach to achieving carbon neutrality:

· In the short term (2023-2029), the company plans to use more clean fuels, electrified equipment, and renewable energy to reduce carbon footprints and peak emissions while maintaining significant business growth.

· In the medium term (2030-2045), the company will improve technologies, strengthen energy management and use more clean energy to substantially reduce emissions to a level below the 2°C scenario.

· In the long term (2046-2050), when clean energy becomes mainstream, the company will employ more carbon capture technologies and harness natural carbon sinks and trading instruments to achieve carbon neutrality.

Zijin has listed a portfolio of carbon-reduction measures in descending order of priority: using clean fuels, substituting clean energy, employing energy-saving technologies, carbon offsetting, and carbon trading.

To accomplish its carbon-reduction ambitions, Zijin has established a sustainability (ESG) governance structure under the leadership of the Board. In December 2022, a new ESG Office was established as a tier-one department in its headquarters to set ESG targets and tasks and ensure implementation. 




Translator: Wei Yalin    Reviser: Chen Peng   Editor-in-Chief: Wang Jie