Teck Announces Goal of Carbon Neutrality by 2050
February 03 2020 - 8:00AM
As part of our commitment to climate action and responsible
resource development, Teck Resources Limited (TSX: TECK.A and
TECK.B, NYSE: TECK) (“Teck”) today announced an objective to be
carbon neutral across all operations and activities by 2050.
This objective demonstrates Teck’s support of the transition to
a low-carbon economy and worldwide efforts to meet the goal of the
Paris Agreement to limit global temperature increase. It also
aligns with commitments by Canada and Chile – which are home to the
majority of Teck’s operations – to be carbon neutral by 2050.
“Setting the objective to be carbon neutral by 2050 is an
important step forward in our commitment to reducing emissions and
taking action on climate change,” said Don Lindsay, President and
CEO. “Climate change is a global challenge that our company and our
industry need to contribute to solving. We will pursue the
technologies and measures necessary to reduce carbon emissions
across our business, while continuing to responsibly provide the
metals and minerals necessary for the world’s transition to a
low-carbon economy.”
Teck has set out an initial roadmap to achieve carbon neutrality
by first avoiding emissions and then eliminating or minimizing
emissions. This will include looking at alternative ways of moving
materials at our mines, using cleaner power sources, and
implementing efficiency improvements, among other measures. See the
Backgrounder below for more detail.
Teck is also investing in the metals needed for the transition
to a low-carbon economy by significantly increasing copper
production through the construction of our Quebrada Blanca Phase 2
Project in Chile. Copper is an essential material for low-carbon
technology, including electric vehicles and renewable power
generation.
Becoming carbon neutral by 2050 builds on our work to date in
reducing emissions and advocating for climate policies. Since 2011,
Teck has implemented projects and initiatives to reduce greenhouse
gas (GHG) emissions at our operations by 289,000 tonnes, which is
the equivalent to taking over 88,000 combustion engine cars off the
road.
For more information on our approach to climate action, visit
our Taking Action on Climate
Change page.
About Teck Teck is a diversified resource
company committed to responsible mining and mineral development
with major business units focused on copper, steelmaking coal, zinc
and energy. Headquartered in Vancouver, Canada, its shares are
listed on the Toronto Stock Exchange under the symbols TECK.A and
TECK.B and the New York Stock Exchange under the symbol TECK. Learn
more about Teck at www.teck.com or
follow @TeckResources.
Investor Contact: Fraser Phillips Senior Vice
President, Investor Relations and Strategic Analysis 604.699.4621
fraser.phillips@teck.com
Media Contact: Chris Stannell Public Relations
Manager 604.699.4368 chris.stannell@teck.com
BACKGROUNDER
Teck has set an ambitious objective of achieving carbon
neutrality across all its operations and activities by 2050. Teck
starts from a strong position to work towards carbon neutrality,
building on our track record of taking action to reduce our carbon
footprint and improve energy use at our operations.
Teck’s progress on reducing carbon emissions and supporting
climate action to date include:
- 81% of all electricity use sourced from renewable, zero-carbon
power sources
- 289,000 tonne reduction in greenhouse gas (GHG) emissions at
our operations since 2011, which is the equivalent to taking over
88,000 combustion engine cars off the road
- Among the world’s lowest carbon intensities for our steelmaking
coal, copper, and refined zinc and lead production
- Signatory to the Paris Pledge for Action and member of the
Carbon Pricing Leadership Coalition
- Released the 2019 Portfolio Resilience in the Face of Climate
Change report, aligned with the Task Force on Climate-related
Financial Disclosures (TCFD), outlining our approach to scenario
planning
- Founding member of Canada’s Oil Sands Innovation Alliance
(COSIA). To date, COSIA members have spent over $200 million to
evaluate and develop GHG reduction technologies
- Collaborating with the International Council of Mining and
Metals (ICMM) to reduce GHG emissions from large mobile mining
equipment
- Carbon price costed into majority of business – paid over $500
million CDN in carbon taxes in Canada since 2008
Initial Roadmap to Carbon Neutrality Teck will
deploy a range of measures, technologies and approaches to achieve
our goal of being carbon neutral by 2050. At a high level, this
will include looking at alternative ways of moving materials at our
mines, using cleaner power sources, and implementing efficiency
improvements.
We have set out an initial roadmap to achieve carbon neutrality
by first avoiding emissions and then eliminating or minimizing
emissions. Based on this approach, we have prioritized our most
significant emissions sources and most mature technologies, among
other factors.
The most significant sources of emissions across our business
today and in the future are from power supply and mobile equipment,
such as haul trucks. To decarbonize these emission sources and
ultimately achieve our goal of carbon neutrality, we will advance
the following options:
- Increase procurement of electricity for operations from clean
energy sources such as solar
- Replace internal combustion engine vehicles through the
adoption of zero-emissions alternatives
- Use low-carbon alternatives for moving material at sites, such
as replacing diesel haul trucks with electric or low-carbon trucks,
or using electricity-powered conveyors
- Use lower emission alternatives for stationary combustion
processes (eg: steelmaking coal dryers)
- Assess the potential for using emerging technologies such as
carbon capture and storage
- Work with industry partners (ICMM, COSIA, etc.) to advance
carbon reduction technologies for mining
- Set interim milestone goals to 2025 and 2030 to track our
progress towards achieving carbon neutrality by 2050
We are actively evaluating solutions that are commercially
competitive today and monitoring earlier stage technologies as they
mature towards commercial viability.
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