Sandfire recognises that climate change is a shared global challenge that requires collective action between business, government, and society. Sandfire supports the move to a low emission economy to reduce the scale of future climate change impacts and avoid increasing their severity. This, coupled with the world’s increasing requirements for secure, affordable energy, creates significant challenges which are best met by companies, governments and society working together.
Embracing a low emission future is a strategic priority of Sandfire’s Sustainability Strategy. The intention of this focus area is to prioritise opportunities during the transition to a low emission economy across our entire value chain.
Our objectives include:
- Supporting the global transition to a low emission future,
- Creating organisation wide awareness and action for a transition to a low emission economy,
- Implementing initiatives that reduce our carbon footprint and emissions intensity,
- Participating in collective action to promote transitioning to a low emission economy, and
- Continuing to provide public disclosure on our climate-related risks, opportunities, and management.
Our approach is governed by our Environmental Policy and HSEC Management System which sets out our commitment to address the physical and transitional risks and opportunities associated with climate change.
Sandfire has committed to adopting the Taskforce for Climate-related Financial Disclosures (TCFD) to further our understanding of the effect of climate change on Sandfire’s value chain, the resulting financial risks and opportunities and in turn to mature our management practices and long-term strategies.
For more information see Taskforce for Climate-related Financial Disclosures and our FY2021 Annual and Sustainability Report.
Our objectives and targets for ‘embracing a low emission future’ are:
- Complete solar feasibility study for the Motheo Copper Mine for Board assessment and investment decision in FY2022,
- 17% of the DeGrussa Operations’ energy mix to be supplied by renewables in FY2022,
- Target partnerships aimed at moving towards low emission economy as part of our Group Investment Strategy,
- Investigate regional partnerships aimed at supporting community adaptation and resilience to climate change in FY2022,
- Implement actions from TCFD roadmap by FY2023, and
- Develop a Group emissions reduction plan by FY2023.
The targets will continue to be updated as we mature our approach to climate change management. Once completed, Sandfire’s Climate Change Strategy will provide detailed disclosure on the methodology used to manage climate-related risks and opportunities, and performance against the targets presented in our Sustainability Strategy.