Climate change update
18 May 2021
Newcrest sets goal of net zero carbon emissions by 2050
Newcrest’s Purpose is “To create a brighter future for people through safe and responsible mining”.
This Purpose underpins our commitment to take on the challenge of climate change and to reduce our greenhouse gas (GHG)
emissions.
Our goal is net zero carbon emissions by 2050. Newcrest is taking action to manage climate change risks and opportunities.
In June 2019, we released our Climate Change Policy which outlined our commitment to the sustainable discovery,
development and production of gold and copper, together with our plans to identify, assess and report our responses to climate
change challenges.
This Policy continues to direct our actions to build a sustainable, resilient business which will thrive in a low carbon future,
encompassing:
• a better understanding of the life-cycle GHG emissions for the gold and copper value chains
• increasing the transparency of our climate change reporting of performance metrics and targets
• reporting our energy use, Scope 1 and Scope 2 GHG emissions and our performance against targets annually
• working with our suppliers and customers to better understand our Scope 3 emissions
• ensuring that our measuring, reporting and verification processes are robust across all operating sites
• assessing options to increase our use of renewable power and low emission energy technologies
• focusing on opportunities to improve our energy efficiency to reduce energy used and reduce direct mining costs
• identifying and pursuing best practices in the mining and metals industry and partner with technology developers
• assessing climate change scenarios and the projected future price of energy in our medium to long term portfolio
analysis
• partnering with experts and research organisations to identify potential physical threats from climate change at our
current and planned operating sites and invest in appropriate adaptation responses to build resilience
• contributing constructively to policy development in our host countries.
In June 2019 we also set a target to reduce our GHG emissions intensity by 30% by 2030 against our FY18 baseline.
We are making progress.
• We have developed GHG Management Plans for each operating site to understand the abatement opportunities.
• We have directly linked achievement of the actions detailed in these plans to senior executive incentive payments.
• We are progressively improving the measurement of our GHG emissions across our full value chain.
• We are increasing our use of renewable sources of energy. For example, we have entered an agreement to purchase
40% of the energy requirements of our Cadia operation from a wind farm which is expected to be generating from
2024.
• We are well advanced in assessing the risks and opportunities for our business under selected climate change
scenarios in line with the Paris Agreement goals.
Newcrest now wishes to set a new longer-term goal, which is to achieve net zero carbon emissions by 2050. This goal will apply
to our operational (Scope 1 and Scope 2) emissions.
We will also continue working across our value chain to reduce Scope 3 emissions.
We will continue to be guided by our Climate Change Policy as we pursue this.
Our energy and emissions performance is reported in our Sustainability Reports and we support the Taskforce on Climaterelated Financial Disclosure (TCFD) recommendations for reporting climate change risks and opportunities.