Glencore’s commitment to the transition to a low-carbon economy

Today we update our performance against our position statement and for the first time disclose a Scope 3 emissions projection for our business.

Key highlights include:

• Paris-consistent strategy/capital discipline
  • We project a c.30% reduction in Absolute Scope 3 emissions by 2035. This includes natural depletion of our oil and coal resource base over time.
  • Our 2019 capital expenditure was weighted towards energy transition materials, including African copper and cobalt and nickel in Canada.

• New Scope 1 and 2 targets
  • We are on track to achieve a near doubling our first GHG reduction target of reducing emissions intensity by at least 5% by 2020 compared to a 2016 base line. We expect to achieve a c.10% reduction.
  • New longer-term Scope 1 and 2 targets that support the Paris goals will be announced during 2020.

• Alignment with TCFD
  • We continue to implement the recommendations of the TCFD in our annual reporting. Details of our performance will be published in our Annual Report 2019 in late February 2020.
  • We are incorporating climate change into operational planning, most recently in our new Tailings Storage Facility protocol.

Download the full press release

For further information please contact:

Investors
Martin Fewings
t: +41 41 709 2880
m: +41 79 737 5642
martin.fewings@glencore.com

Maartje Collignon
t: +41 41 709 3269
m: +41 79 197 4202
maartje.collignon@glencore.com

Media
Charles Watenphul 
t: +41 41 709 24 62 
m: +41 79 904 33 20 
charles.watenphul@glencore.com

Sustainability
Anna Krutikov
t: +41 41 709 34 26
m: +41 79 737 55 82
anna.krutikov@glencore.com

www.glencore.com 

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by its global marketing network.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 160,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Review of 2019 performance and Scope 3 emissions projection

Baar, Switzerland 18 February 2020

In February 2019, Glencore published its climate change position statement (position statement), Furthering our commitment to the transition to a low-carbon economy, which is available on our website.