Page 106 - 1-37
P. 106
TRANSFORMING TRANSFORMING TRANSFORMING
SUSTAINABILITY REPORT FY 2023 COMMUNITIES THE PLANET THE WORKPLACE
Aim 4
Net-carbon neutrality by 2050 or sooner
Key Material Issues For such attempts to be effective and levels, causing certain regions to become copper, lead, lithium, manganese
Climate change and decarbonisation real, it must be collaborative and more water stressed than earlier. This can etc are making the transition to
coordinated, and businesses have a lead to situations of conflict with other green energy technologies
leading role to play. As a metals and stakeholders, as competition increases possible. The importance of our role
mining company, climate change can for shared and dwindling water resources, in determining the next course in
affect us in several ways. Here we leading to serious operational hurdles human history thus makes it doubly
understand what these are and and even jeopardising our social licence important for us to adopt a
Climate change is the single biggest challenge facing evaluate the repercussions: to operate over the longer term. low-carbon path to our growth. As
humanity today. From rising sea levels that threaten an organization, we are committed
catastrophic floods to searing heat waves that cause Disruption of business as usual More regulations leading to higher to reaching Net Carbon Zero by
droughts and wildfires, the global temperature rise Extreme weather events like operating costs 2050 or potentially earlier.
has triggered a chain of events that is likely to change hurricanes, floods, droughts can Governments across the world have
Earth forever. Caused by human activities, the onus disrupt mining operations and been tightening regulatory and We have already put in place a
and responsibility for arresting climate change and damage infrastructure, making it compliance requirements as climate definitive course of action with our
mitigating its impact also lies with us. difficult to extract and transport change gains in severity, and global decarbonisation and energy use
minerals. This, in turn, can disrupt the consensus for taking emphatic action, targets identified for 2025 and
supply chain for metals, while also builds. Measures like carbon pricing, 2030. These targets have been
significantly increasing costs for additional regulations to reduce developed through a thorough,
metals and mining companies. greenhouse gas emissions maybe science-based assessment. To
introduced in the future. This will further reach our goals, we have developed
Water scarcity and conflicts increase costs and affect the profitability a comprehensive climate change
Climate change-related water of the company. strategy and roadmap, which
scarcity can also affect the includes an extensive climate risk
processing of metals. Mineral The role of metals in the low-carbon assessment and scenario analysis.
extraction and purification processes economy Our FY 2030 and FY 2050 GHG
extensively use water. However, The low-carbon economy cannot come reduction commitment targets are
changing weather patterns have into being without the use of metals and aligned with the 2C Science Based
triggered variability in precipitation rare earth minerals. Metals like aluminium, Target Initiative (SBTi) scenario.
54
