Capstone Copper Unveils Green Strategy
Capstone Copper Corp. has introduced a fresh Sustainable Development Strategy and GHG emissions reduction goals to align with its pledge for eco-friendly copper manufacturing.
The strategy highlights five key areas of focus with individual targets, goals, and milestones. The Sustainable Development Strategy can be accessed here.
Capstone's Sustainable Development Strategy showcases the company's dedication to ethical mining practices and core values. The strategy outlines specific targets, key performance indicators, and goals for a range of initiatives aimed at addressing five initial priority areas, both current and forthcoming.
Targets against the 2021 baseline are set to achieve the following in the future:
In terms of climate action, there is a goal to lower greenhouse gas (GHG) emissions from fuel and power by 30% by 2030. The organisation operates in countries that have signed the Paris Agreement and pledged to significantly decrease their national GHG emissions. To achieve this objective, the company is working on various initiatives to reduce carbon emissions, including incorporating more renewable energy sources into its energy mix, examining independent renewable energy production alternatives, and reducing diesel consumption.
In the area of water management, the organisation has set a target to decrease freshwater consumption intensity by 2030. As freshwater is becoming a scarce resource crucial to the company's operations as well as to society and communities, the goal is to reduce freshwater usage and increase the proportion of low-quality, desalinated, or recycled water in the total water consumed during operations.
Regarding tailings management, the company aims to adopt the Global Industry Standard for Tailings Management (GISTM) by 2026. Proper handling of tailings is crucial for reducing adverse environmental and social consequences. The objective is to ensure that all tailings storage facilities receive independent assurance that they conform to the GISTM.
The organisation aims to establish a Biodiversity Standard and evaluate all of its sites against it by 2025. This is in line with responsible mining practices that aim to minimise land disturbance and maintain ecosystem preservation. The objective is to assess all sites using a mitigation hierarchy framework that prioritises nature-related risks and opportunities. In addition, the company intends to undertake site-specific projects for reclamation, reforestation, and habitat restoration.
The organisation has set a goal to establish a Social Performance Standard and evaluate all of its sites against it by 2025. Building trust and constructive working relationships with local communities, organisations, and governments is critical to ensuring broad social acceptance and ongoing support. To achieve this objective, the company is developing a Social Performance Standard that identifies and manages social risks and impacts, stakeholder engagement, grievance management, and community investment. The standard will be informed by best practices, including the International Finance Corporation PS1, ICMM guidance, and the UN Guiding Principles on Business and Human Rights.
John MacKenzie, CEO of Capstone, commented, “We are very proud to announce our new Sustainable Development Strategy today. Responsible operating practices are a vital component of our commitment to the environment, our employees, local communities, and governments and must remain front of mind in everything we do. By setting priorities, milestones, and interim targets, we recognise our role as producers of copper in the world’s efforts to address the causes of climate change. Our Board of Directors and management are committed to achieving our Strategy and goals to contribute to a net zero future.”
Wendy King, SVP ESG and General Counsel commented, “This Sustainable Development Strategy and our GHG reduction targets follow a detailed review of our operations to establish a 2021 baseline. We are aligned with good international and industry standards while supporting the continued development of our assets. Several of our policies, standards and operational initiatives are already contributing to these targets, and we look forward to providing regular updates as we progress.”
To find out more about Capstone’s Sustainable Development Strategy and initiatives, visit Responsibility – Capstone Copper.
Source: Capstone Copper