20784 29Metals AR 2022 WEB V1 - Flipbook - Page 41
Action on climate change
We are committed to contributing to the global effort
to respond to the risks of climate change.
29Metals has advanced its approach to climate action in
two key areas:
■
■
the development of our roadmap to align with the
recommendations of the Taskforce on Climate-related
Financial Disclosures (the ‘TCFD’)
identifying opportunities to collaborate on climate action
TCFD Roadmap
29Metals developed a roadmap to align to the TCFD
recommendations early in 2022, adopting the TCFD
governance--strategy--risk management--metrics and targets
structure. An outline and progress of our three-year TCFD
Roadmap is set out below.
29Metals Actions
2022
TCFD Recommendation Element
Governance
Metrics and
Targets
2024
Continuous improvement in
internal oversight
Continuous improvement
in internal reporting
Integrate climate change into
strategy to consider risks and
opportunities
Undertake climate scenario
analysis, and disclose on
process and outcomes in
annual reporting
Integrate climate change risks
and opportunities into risk
management framework
Continuous improvement
in risk management actions
and monitoring
Continuous improvement
in risk management
actions and monitoring
Completed emissions profile
assessment (Scope 1 and
Scope 2) for existing operations
to inform development of
emissions reduction plan
and target setting
Set credible external medium-term
absolute emissions or emissions intensity
reduction targets (Scope 1 and Scope 2)
Monitor and report
progress against targets,
with related metrics
integrated into internal
and external reporting
processes
Continue to build and enhance
Board and Management climate
competency through climate
education sessions
Strategy
Risk
Management
2023
Integrate reduction target(s)
metrics into internal and
external reporting processes
Assess emissions profile (Scope 3)
for existing operations to inform
development of emissions
reduction plan
For the purposes of our TCFD roadmap, 29Metals intends
to adopt a calendar year reporting period so as to align
with 29Metals’ financial reporting period which, in turn,
would align with reporting developments in the past
12 months (including, for example, the draft sustainability
and climate change reporting standards being promulgated
by the International Sustainability Standards Board). Similarly,
29Metals will report its emissions applying the GHG protocol.
The emissions calculation methodology for NPI and NGERS
reporting is different to the calculation methodology under the
GHG protocol. For transparency, 29Metals Sustainability & ESG
reporting includes the emissions data reported by 29Metals
under NPI and NGERS as additional disclosure.
Greenhouse gas emissions profile
As part of the above TCFD roadmap, during the Reporting
Period 29Metals completed a greenhouse gas (‘GHG’) emissions
assessment to understand our overall emissions profile and
identify areas for emissions reduction. Using the GHG protocol,
an emissions profile assessment for Scope 1 and 2 emissions was
completed for the calendar year 2021 period. Data presented
in calendar year aligns emissions data with 29Metals’ financial
reporting cycle. This forms our 2021 baseline and will serve as a
reference point for any future emissions reduction measurements.
A preliminary assessment of Scope 3 emissions was also
completed to provide 29Metals with a sense of the materiality of
Scope 3 emissions relative to the Groups total emissions profile20.
20. For the purposes of the preliminary assessment of Scope 3 emissions, the assessment of downstream emissions was limited to transportation of 29Metals' mineral
concentrate products to smelters and the smelting and refining process.
39