Mining is a resource-intensive business and responsible for a significant amount of global emissions as well as mining some of the minerals that are part of the solution to climate change. The infrastructure of the sector will also need to be resilient to the extremes of climate change weather impacts.
In dialogue with global investor engagement initiative Climate Action 100+, major mining companies are increasingly developing decarbonisation plans that align with a net-zero economy (see TPI analysis and sectoral benchmark for diversified mining). However, the pace of change needs to increase if the sector is to align with the goals of the Paris Agreement while expanding to meet the capacity required for the low-carbon transition. There is considerable innovation taking place across the sector and we are keen to ensure this is scaled up to industry-wide standards of operation.