dss+ Finds Mining’s Decarbonisation Rate Must Double To Meet 2030 Emission Targets

London, UK  2nd December 2024 – Today, dss+ is announcing the findings from the first of a two part research report, ‘Decarbonising mining in an era of growing demand for critical metals and minerals’. The report found mining’s current two per cent annual reduction rate in emissions^[1] would result in a 40 per cent gap to 2030 targets set by the Paris Agreement and associated Science-Based Targets (SBTi). To bridge this, decarbonisation rates must accelerate to 4.5 per cent, per annum across the mining industry and be extended to include ‘Scope 3’ indirect emissions in upstream and downstream corporate activities.

Authored by dss+ global experts in sustainability and mining, the report identifies a paradox where mines must increase capacity to meet demand for metals such as copper, while decarbonising concurrently. To address this, the report recommends an industry-wide shift to enhance organisational and individual capabilities, while strengthening suitable structures and processes for decarbonisation. The authors claim this will accelerate significant emission reductions that are sustainable in the long-term. 

Gerhard Bolt - lead author and principal, sustainability and mining at dss+ said, “Our research has found decarbonisation in mining must accelerate to meet science-based targets. Barriers to progress can be overcome via a shift in mindsets and the adoption of proven strategies that enable sustainable emission reductions and long-term transformative outcomes for mining’s stakeholders.” 

The first part of the report, ‘Decarbonising mining in an era of growing demand for critical metals and minerals’ is available here. The second part will be released in early 2025 and will explore decarbonisation solutions in more detail.

_{[1] dss+ analysis of 52 mining companies that disclose scope 1 and 2 emissions, found that the average annual rate of emission reductions was approximately 2% between 2018 and 2021.}