A leading publicly traded mining client had taken a number of significant steps over recent years to evaluate and address environmental emissions arising from its extensive operations. This effort included implementing a number of measures and standards that are independently assessed.
Our client was committed to deploying robust ESG operating practices in order to create sustainable value for its stakeholders. In line with this commitment, the company wanted to take a lead on reducing its greenhouse gas (GHG) emissions.
In a visionary and highly complex project, our client has led the way in its sector in setting an interim goal of halving its direct operating GHG emissions by the end of 2026, as compared to 2019 baseline levels. In addition, our client set a longer-term target of achieving net zero direct operating GHG emissions by 2040.
Our client expects to achieve both targets through multiple energy management and improved operational efficiency initiatives. Central to achieving this will be the full-scale deployment of GHG abatement equipment that it had piloted successfully over several years.
The 2040 target is supported by strategic initiatives and partnerships that aim to develop the technologies needed to enable our client to achieve its pioneering goal.
While the targets relate to direct operating GHG emissions, our client is also continuing to invest in research that it hopes will reduce indirect emissions in the future.
Developed over the course of a number of years, our client has put in place highly ambitious initiatives to reduce its emissions. In the second half of 2021, it became the first company in the sector, within its country of operation, to announce net zero plans.
Reed Smith advised and represented our client throughout its sustained effort over several years to devise, test and begin to implement these GHG reduction plans. This included assisting with quantifying the company’s carbon footprint, advising on effective reduction methods and offsetting, and supporting pilot testing of these techniques. Once the successful test results were in place, the Reed Smith team assisted in the drafting of the net zero plan, before it was presented for discussion with, and approval by, the company’s senior executive board. In addition, the Reed Smith team counseled the client with respect to regulatory filings and disclosures, alongside other communications to the market.
The Reed Smith team:
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