Energy Efficiency, GHG Emissions, Industrial  -  March 21, 2024

Glencore Sets New Emission Targets

Glencore introduced a new interim industrial emissions reduction target and laid out its plans for the next three years, including the risks and opportunities of its current combined energy and metals businesses.

The company maintained its previous industrial emissions reduction targets. Its translation plan reaffirms the existing targets against a restated 2019 baseline and adds a new interim target, leading toward a 2050 net zero emissions goal.

Glencore’s plans include the following:

• 2026: 15% reduction in its Scope 1, 2 and 3 industrial CO2e emissions against a restated 2019 baseline by the end of 2026
• 2030: 25% reduction in its Scope 1, 2 and 3 industrial CO2e emissions against a restated 2019 baseline by the end of 2030
• 2035: 50% reduction in its Scope 1, 2 and 3 industrial CO2e emissions against a restated 2019 baseline by the end of 2035

Glencore released details in its second Climate Action Transition Plan (the 2024-2026 CATP). 

“Reflecting on these various inputs, this CATP retains our existing emissions reduction targets, of 15% and 50% by the end of 2026 and 2035 respectively and our 2050 ambition of achieving net zero industrial CO2e emissions, subject to a supportive policy environment. It also introduces a new interim target of a 25% reduction in CO2e emissions for our industrial assets by the end of 2030,” said Gary Nagle, CEO, in a statement. “We are on track to meet our 2026, 2030 and 2035 emissions reduction targets, all of which are measured against a restated 2019 baseline.