Global warming poses danger to the life on earth, risking fresh water, food, and energy supplies. Greenhouse gas (GHG) emissions are the primary cause of global warming. Carbon dioxide (CO2), methane (CH4), and nitrogen oxides (NOx) are GHGs produced by the combustion of oil, fossil fuels, and other sources.
The metals and mining industry accounts for approximately 4% to 7% of worldwide greenhouse gas emissions. GHG emissions are produced by industry operations such as energy generation, heat or steam, and fuel use. The International Council on Mining and Metals (ICMM) has committed to a goal of net zero Scope 1 and 2 emissions by 2050.
Barrick Gold Corp (Barrick) is a metals and mining company which carries out the exploration and development of mineral properties. It owns and operates various gold mines and other mines. The mines operated by the company produce gold, silver, copper and nickel commodities. In 2021, the company reported total GHG emissions of around 11.9 million tonnes CO2 equivalents (MtCO2eq), up 58% from 2020 since 2021 figure also includes Scope 3 emissions.
Scope 1, 2, and 3 emissions are the three categories of GHG emissions. Scope 1 emissions are direct emissions by the company, such as fuel use, on-site electricity generation, and process emissions. Indirect GHG emissions from the generation of purchased or acquired electricity are referred to as Scope 2. Scope 3 emissions refer to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, including upstream and downstream activities, such as purchased goods and services, upstream transport, and employee commute.
Scope 1 emissions account for most of Barrick’s overall GHG emissions, accounting for 51.5% of total GHG emissions (6.1 MtCO2eq) in 2021. In 2021, the company's Scope 1 emissions fell by 1.4%, and Scope 2 emissions fell by 25.8%.
Barrick has set a goal of net zero emissions by 2050. The company also reported Scope 3 emissions in 2021 and also aims to reduce Scope 3 emissions in the future.
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