Freeport-McMoRan Publishes Climate Report and Announces Net Zero Aspiration
Freeport-McMoRan Inc. announced the publication of its updated Climate Report which details the work underway across its global business to reduce greenhouse gas (GHG) emissions, improve energy efficiency, advance the use of renewable energy and understand and enhance the company’s resilience to future climate-related risks. The Climate Report reflects the company’s continued progress towards alignment with the current recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
“As both a major consumer of energy, and as one of the world’s largest producers of the copper essential to enable the global energy transition, Freeport aspires to participate in, and positively contribute to, a 2050 net zero economy,” Richard C. Adkerson, Chairman and Chief Executive Officer said in a statement. “Our path to net zero carbon emissions will require industry-wide new technological solutions and innovation. We embrace these challenges and are focused on achieving meaningful progress through our internal efforts and through collaboration with industry partners. We are in the process of integrating our climate initiatives into our long-term business plans as we work to responsibly produce copper for the benefit of all stakeholders.”
In 2020, FCX published its inaugural climate report, established a 15 percent GHG emissions intensity reduction target for the Americas copper business by 2030, and committed to aligning its future climate reports with the recommendations of the TCFD.
In 2021, FCX established a new 30 percent GHG emissions intensity reduction target for its Indonesian operations by 2030. FCX also completed its first global climate scenario analysis, enhanced climate expertise on its Board of Directors, directly linked climate performance with its annual executive compensation program and advanced its analysis of renewable energy opportunities in the southwestern United States.
FCX is actively involved in various industry initiatives that are focused on climate, including the International Council on Mining and Metals and the International Copper Association. In addition, FCX is a patron supporter of the Charge on Innovation Challenge, a new global industry initiative aimed at developing effective solutions for large-scale haul truck electrification systems.
To learn more about FCX’s climate strategy and progress, please read FCX’s 2020 Climate Report, available on the company website at: