CEO Mark Bristow told CNBC's Jim Cramer on Friday that the company's plans to reduce greenhouse gas emissions will deliver financial benefits internally, in addition to the positive environmental impacts.
"We're not just investing to reduce our gas emissions just to be compliant. It's good for business," Bristow said in an interview onSpecifically, Bristow said that as part of Barrick's roadmap to achieve its 30% reduction goal, the company is assuming a 15% internal rate of return. Known as IRR, it's a financial metric companies can use to determine whether a project is a worthwhile investment.
"It's giving us a return," Bristow said of emissions-cutting initiatives. "It'll drop the cost, make us less dependent on the hydrocarbons."
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