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– International Copper Association members commit to fight against carbon emissions to reach net zero by 2050
Members of the copper industry’s main trade association have set out ambitious plans to achieve net zero Scope 1 and 2 emissions by 2050, and significantly reduce Scope 3 emissions.
BRUSSELS, March 7, 2023 /PRNewswire/ — In a new roadmap launched today by the International Copper Association (ICA), members have aligned themselves around the ambition to achieve net-zero Scope 1 and Scope 1 emissions. 2 by 2050, and work towards the same target for Scope 3 emissions.
With copper demand projected to double by 2050, the roadmap, Copper-The Pathway to Net Zero, sets out a clear ambition for ICA members – among the world’s largest producers of refined copper – to reduce Scope 1 and 2 emissions by 30-40% by 2030 and 70-80% by 2040. On Scope 3 emissions, members will work with value chain partners to reduce emissions by 10 % by 2030, 30-40% by 2040 and 60-70% by 2050. These collective ambitions show a clear trajectory to achieve defined emission reductions of up to 85% by 2050, with the remainder to be addressed through technologies advanced technologies and increased collaboration with value chain partners.
Refined copper production emitted an estimated 97 million tons of CO equivalent in 2018. Scope 2 emissions accounted for 46 percent of these emissions, followed by Scope 3 at 31 percent and Scope 1 at a 23 percent. This constitutes about 0.2 percent of global human-caused emissions.
ICA believes that certain industry needs and political objectives must also be met to achieve the goals of the roadmap. These include research and development of innovative technologies for emissions reductions, decarbonisation of local power grids, and regulatory certainty, including fair and stable royalties and long-term mining licences.
The roadmap sets out how ICA members will reduce Scope 1 and 2 emissions through four reduction levers based on market-ready and developing technologies: alternative fuels, equipment electrification, decarbonized electricity, and energy efficiency.
In addition, the collective ambition outlined in the roadmap is based on current knowledge of decarbonisation technologies and a set of sound assumptions about the availability at scale, and the cost and abatement potential of these technologies. If necessary, carbon offsets and non-commercialized technologies, such as carbon capture, would be limited to very specific, minimal cases.
The copper industry produces a key raw material used in a wide range of power generation, power transmission and digital applications, as well as energy-using products. Copper is essential for the transition to a carbon neutral economy and as a result, global demand for copper is expected to double by 2050. It is therefore vital that the industry establishes clear best practice guidelines to help others to achieve the objectives established in the commitments acquired in the Paris Agreement on December 12, 2015.
Shehzad Bharmal, ICA, President and Senior Vice President, Base Metals at Teck Resources, said, “Copper is the catalyst at the heart of the energy transition, with two-thirds of decarbonization technologies requiring copper as a core component. At ICA We want to make sure that how we produce that copper is in line with its most common end use of enabling and accelerating the transition to low carbon, so ICA members have aligned on a collective plan to catalyze the industry progress towards net-zero production. ICA’s roadmap sets out a path to build on existing commitments by member companies to responsible copper development, while meeting growing demand for this essential material.”
Anthony Lea, President, International Copper Association, said, “Copper is the cornerstone of a net-zero emissions future, and our industry is committed to producing copper sustainably and with an ever-shrinking carbon footprint. Reaching the Zero emission targets require more than investment, they require partnerships across the entire value chain. ICA members stand ready to collaborate and partner with all stakeholders to further improve industry sustainability and meet our 2050 goals.”
Bernard Respaut, Global Director, ICA Clean Energy Transition Team and CEO of the European Copper Institute, said, “Through our roadmap, additional partnerships and individual commitments, our members are on track to meet the anticipated rapid growth of copper demand in the most sustainable way possible, however, we cannot achieve carbon-neutral copper production on our own by 2050. Our industry needs a global regulatory environment that prioritizes innovation, stability and predictability long term. We are ready to work with all stakeholders to ensure responsible and sustainable copper production for the carbon neutral world of tomorrow.”
Iván Arriagada, CEO of Antofagasta PLC, said, “Antofagasta is committed to a modern and sustainable mining future, which reflects the carbon neutrality aspirations of the industries and economies we help decarbonise. The new roadmap, agreed by the members of the International Copper Association, clearly demonstrates the industry’s collective ambition to reach net zero emissions by 2050, in a way that transparently incorporates best practice from the global mining industry.”
Roland Harings, CEO of Aurubis, said, “Copper is a vital material in the global shift towards decarbonization, and Aurubis is highly committed to producing climate-neutral copper well before 2050. The launch of the Decarbonisation path by ICA members demonstrates a broad industry ambition to achieve net-zero copper production by 2050 and is a solid first step in a coordinated industry effort to realize sustainable, efficient and net-zero operations by 2050.”
Richard C. Adkerson, President and CEO, Freeport-McMoRan, said, “The copper Freeport produces is essential for the technologies that will accelerate the shift toward a net-zero economy. We are committed to measurable progress in advancing our climate goals. However, we cannot achieve our climate goals alone New technology solutions, innovations and partnerships will continue to be needed, many of which will be driven by industry and value chain collaboration. ICA decarbonization represents an important step and a vital alignment across the copper industry to take practical and responsible steps towards a net-zero mining future.”
Mike Westerman, Lead and Copper Industrial Assets, Glencore, said, “As economies and industries around the world seek to decarbonise to meet their Paris Agreement targets, copper has become an essential material in this energy transition Glencore is proud of its role in supporting the transition to a low carbon economy and we are pleased to be part of a broader and collaborative industry ambition towards net zero by 2050, as outlined in the energy transition. roadmap for ICA members.”
Francisco López Guerra Larrea, director of sustainability, Grupo México Mining Division, said, “Our commitment to responsible, transparent and sustainable mining operations means that Grupo México continues to set emissions and environmental targets in line with the ambition of the Paris Agreement, the technological readiness and regulatory environment of the geographies we operate in. The Pathway, agreed by ICA members, will help us facilitate industry-wide collaboration on solutions, as we can only create a net-zero copper industry by working together , implementing the best practices in the sector and finding synergies that work.”
The Copper-The Pathway to Net Zero roadmap builds on previous ICA best practice guidelines. In 2020, with the support of the ICA, The Copper Mark®, an independent third-party assurance framework, was launched. The Copper Mark® was designed to provide all interested parties with the confidence that certified copper production facilities operate in accordance with internationally accepted responsible industry practices.
About the International Copper Association The International Copper Association is the leading advocate for the copper industry, bringing together the industry and its partners to advance the UN Sustainable Development Goals and position copper as the material of choice. Headquartered in Washington, D.C., the ICA has offices in three main regions: Asia, Europe and North America. ICA and its Copper Alliance® partners are present in more than 60 countries around the world. For more information, visit www.copperalliance.org
Media contact: Nicole Witoslawski, 1 646 350 9968 nicole.witoslawski@copperalliance.org
Alex AdamsAAdams@apcoworldwide.com
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