South32 pledges no more investment in greenfields coal

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.South_32 has pledged no further investment or development of greenfield metallurgical coal projects, as it works towards its netzero targets mining resources environment carbonneutral parisagreement carbon emissions

PERTH – Diversified miner South32 has set a new goal of net-zero Scope 3 emissions by 2050, as part of its Climate Change Action Plan, and has vowed not to develop or invest in any greenfield metallurgical coal projects.

The miner is also working to respond to the potential physical impacts of climate change on its business, and working with others to innovate and address shared challenges across the industry and to decarbonise the value chain. During the 2022 financial year, South32 added copper to its portfolio with the acquisition of a 45% interest in the Sierra Gorda copper mine, in Chile, and also invested to double its share of aluminium production by participating in the restart of the Brazil aluminium smelter and increasing its shareholding in Mozal Aluminium, in Mozambique.

 

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