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.
Polyus, a subsidiary of Polyus Gold International Ltd, is a gold mining company. It operates mines and deposits in Russia and is considered as one of the largest gold mining companies in Russia. In 2021, the company reported total GHG emissions of around 2.8 million tonnes CO2 equivalents (MtCO2eq), up 39% 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, steam, heat or cooling 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 product transport, employee commute. The Company performed and disclosed its first Scope 3 GHG emissions assessment in 2021.
Scope 3 emissions account for most of Polyus’ overall GHG emissions, accounting for 52.2% of total GHG emissions (1.46 MtCO2eq) in 2021. In 2021, the company's Scope 1 emissions fell by 11.9%, and Scope 2 emissions fell by 98%.
Polyus has committed to reach net zero Scope 1 and Scope 2 GHG emissions by 2050 or sooner, in line with the stated goals of the Paris Agreement.
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