The mining sector is under pressure to decarbonize the metals supply chain in order to meet the goals of the 2020s for climate action. The focus is on reducing Scope 1+2 emissions, which can be achieved through zero emission power supply and reducing diesel consumption. Companies such as FCX, NEM, and FM have the potential for significant emission reduction through the use of alternative power sources. However, production growth is likely to put upward pressure on emissions, and only a 6% absolute reduction in Scope 1+2 emissions is forecasted through 2030 based on announced projects. Companies such as GOLD, NEM, TECK, FM, and FCX are expected to achieve the most significant absolute reductions in their respective sectors.
