Call for Climate Action – A Parametric Analysis of Australian Mining Sector Initiative and Performance

December 04, 2019 08:10 PM AEDT | By Team Kalkine Media

Google News:

Call for Climate Action – A Parametric Analysis of Australian Mining Sector Initiative and Performance

Recent News

QXO won’t participate in bidding war for GMS - source

LA Galaxy, Black Star, and Carson Parks and Recreation Unite To Empowe...

Reddit in talks to use Sam Altman’s World ID for user verification - S...

Australia Share Market: ASX 200 Banks in Focus Amid Global Tensions

Mining Sector contributes around 10%¹ in Australian GDP whereas its contribution in Countryâs Green House Gas (GHG) emission is around 16%², which is expected to increase further in FY 2020 due to the upcoming projects and increase in export contributing significantly in Scope 3 emissions. Therefore, it is pertinent to mention that 60% of Australian export market is contributed by the mining sector only.

Climate Change Authority revised the Federal Government GHG reduction target from 26-28% to 45-46% below 2015 level by 2030 after the analysis of the working paper which concluded that the emission reduction target is not adequate to meet the objectives of Paris Agreement.

In milieu of this, it is quintessential to understand how the Australian Large Cap or Mid Cap companies are performing vis-Ã -vis their initiatives in Sustainable development.

Post Paris Agreement, many companies have worked towards reducing the GHG emission which is quite visible in case of Large Cap or Blue-chip companies like BHP Group Limited (ASX:BHP) and Rio Tinto (ASX:RIO) where scope of improvement in Scope 1 and Scope 2 emission is quite less than the Scope 3 emission which is not directly related to the operational activities of the company. Whereas, Mid Cap companies still need to focus on Scope 1 and Scope 2 improvement.

This is the testimony to the financial strength of the companies. Stronger the financial strength more is the investment in low carbon emission technology. The details of each company are given in subsequent section: -

Currently, scope 3 emission are significantly high at 538 million tons of CO₂ equivalent. For the same, the company has started the âSteward Strategyâ initiative in FY20 which will bring all the stakeholders of the company while intending to set the public goal for emission reduction to work towards the common goal.

^{----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1}Reserves Bank of Australia - Composition of the Australian Economy Snapshot ²Federal Government Projections ³Gigajoules per ton of copper equivalent production

Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.