Greenhouse gas (GHG) emissions are one of the main causes of rising global warming and the metals and mining industry accounts for approximately 4% to 7% of worldwide greenhouse gas emissions. A substantial amount of greenhouse gases emitted by fuel use, on – site electricity, and other sources include CO2, methane, and NOx. It has become increasingly vital for major contributing industries to record greenhouse gas emissions throughout operations, and the International Council on Mining and Metals (ICMM) has committed to a goal of net zero Scope 1 and 2 emissions by 2050.
GHG emissions are generally classified into Scope 1, Scope 2, and Scope 3 emissions. Scope 1 emissions are direct GHG emissions from operated assets by the company, such as fuel use, industrial processes and other minor sources. Scope 2 (Indirect GHG emissions) accounts for GHG emissions from the purchased or acquired electricity. Scope 3 refers 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 transport, business travel, product use and downstream leased assets.
Rio Tinto, Vale SA, and BHP are major metals and mining companies with a significant amount of Scope 3 emissions. Metals and mining companies are focusing on reducing their emissions which occurs due to the direct or indirect operational activities of companies.
Rio Tinto, an international metals and mining company, is a leading Scope 3 greenhouse gas emitter. In 2021, Rio Tinto’s Scope 13 emissions accounted for 553.5 million tonnes CO2 equivalents (MtCO2eq) which is 94.7% of Rio Tinto’s total GHG emissions. To reduce GHG emissions, the company intends to invest $7.5 billion in climate abatement projects until 2030.
Vale SA is the second-largest contributor to Scope 3 emissions. In 2021, Vale’s Scope 3 emissions were around 495.5 MtCO2eq, accounting for 98 % of Vale’s total GHG emissions. To promote sustainability, the company has set a goal to reduce Scope 1 and 2 emissions by 33% by 2030 and Scope 3 net emissions by 15% by 2035. The company also aims to use 100% renewable energy in Brazil by 2025 and globally by 2030.
In 2021, BHP’s Scope 1 emissions accounted for 96.1 % of its total GHG emissions. BHP’s target is to reduce the operational emissions by at least 30% by 2030 from the level they were in 2020. The company has set a long term goal to achieve net zero operational emissions by 2050.
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