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Newmont Sets New Green Emissions Targets

Nov 16, 2020

By Stephane Villeneuve: Mining Life Online

Newmont Corp. (NYSE: NEM, TSX: NGT) recently announced their plans to reduce greenhouse gas (GHG) emissions by 30% by 2030 with an ultimate goal of achieving net zero by 2050.
“At Newmont, we hold ourselves to high standards — from the way in which we govern our business, to how we manage relationships with our stakeholders, to our environmental stewardship and safety practices,” said Tom Palmer, President and CEO of Newmont Corporation.
“We take these climate change commitments seriously, and make them because our relationship with the planet is absolute. We want a world that is not just sustainable, but thriving for generations to come.”
Achieving this goal is no small feat, with 88% of its current power supplied from carbon based fuels.
As the company looks to reduce emissions, future investment decisions will have reducing their carbon footprint in mind. Renewable energy, Improvements to existing infrastructure and fleet efficiency are all on the table as the company works toward a sustainable future.
Part of Newmont’s plan is “The Climate-Related Financial Disclosure (TCFD) guidelines”, an annual report based on Newmont’s strategy to handle a range of climate scenarios as well as track the companies annual progress towards net zero carbon emissions. The First TCFD report is set to be released in 2021.
This announcement comes on the heels of a record third quarter for 2020. Newmont has a strong portfolio that spans the globe, including mines in Africa, Australia, South and North America, including the prolific Porcupine Mine at the heart of the Abitibi Greenstone belt.  Newmont is set to remain on Guidance for the year, barring COVID related disruptions. With established COVID controls mitigating any potential harm to employees the path towards a successful Q4 is certainly within reach.

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