Climate change

ADDRESSING CLIMATE CHANGE

As a global mining and metals company, we have an important role to play in responding to the risks and opportunities of climate change: to produce commodities critical for the transition to a low-carbon world¹; and do so in a way that seeks to contribute value to society and minimise environmental impact.

We support the objectives of the Paris Agreement and have set a target² to halve our operational GHG emissions (Scope 1 and Scope 2) by 2035 from our FY21 baseline. We also have a long term goal³ to achieve net zero GHG emissions across all scopes (i.e. Scope 1, 2 and 3) by 2050.

FY24 AT A GLANCE

Approved the development of Hermosa’s Taylor zinc-lead silver deposit and agreed to sell Illawarra Metallurgical Coal (IMC) and our interest in the Eagle Downs metallurgical coal project.
Reduced our reported operational GHG emissions by two per cent from our FY21 baseline.
Converted two of Worsley Alumina’s coal-fired boilers to natural gas.
Exceeded our 67 per cent target for post drainage capture efficiency of coal seam gas at IMC's Appin mine.
Continued to work with key stakeholders towards securing stable and affordable low-carbon energy solutions for our aluminium smelters in Southern Africa.
Implemented a new tool to enhance our estimation and reporting of Scope 3 GHG emissions.
Continued to embed potential physical climate change impacts into our life of operations, system of risk management and governance.
Participated in cross-industry technology and innovation initiatives and engaged on climate-related policy developments and regulatory reform.

PERFORMANCE SNAPSHOT

6%

reduction in operational GHG emissions (Scope 1 and 2) from FY23

14%

reduction in Worsley Alumina's operational GHG emissions in FY24 against FY21 levels

¹ Low-carbon refers to lower levels of GHG emissions when compared to the current state. Where used in relation to South32’s products or portfolio, it refers to enhancement of existing methods, practices and technologies to substantially lower the level of embodied GHG emissions as compared to the current state.
² Target is an intended outcome in relation to which we have identified one or more pathways for delivery of that outcome, subject to certain assumptions or conditions.
³ The use of ‘goal’ in the context of climate change means an aspiration to deliver an outcome for which we have not identified a pathway for delivery, but for which efforts will be pursued towards achieving that outcome, subject to certain assumptions or conditions.

See the full data tables in the FY24 Sustainability Databook