Miners, by profession, are practical problem solvers. It’s how we approach getting minerals out of the ground – safely, responsibly and profitably. And it’s how we are approaching the commitment to support the global greenhouse gas (GHG) reduction challenge of climate change. We are currently working toward specific reduction targets to align with the global objective of 50% by 2030.
Hudbay is already a low-GHG-intensity copper producer. We have reported to the CDP climate questionnaire for more than 10 years and already have a solid grasp of the nature, scale and drivers of our Scope 1 and 2 GHG emissions. At the site level, we follow the TSM Climate Change Protocol (before 2021, the TSM Energy and Greenhouse Gas Emissions Management Protocol). As we strive to meet our company’s climate change challenge, it is important to note that, as a baseline, all our facilities are grid-connected. We are not a power producer, and our electricity source in Manitoba is effectively 100% hydroelectric, while the grid in Peru is close to 50% hydroelectric. Interestingly, because we already make significant use of renewable energy, it is more challenging to implement certain types of dramatic energy reductions or energy source improvements.
FOCUSED ON GROWTH AND GHG REDUCTION
Additionally, Hudbay remains a growth-oriented company with a robust portfolio of high-potential projects. We are working to increase our base and precious metals production, including copper and zinc, both of which are essential for making the global transition to green energy. Increasing production will mean expanding our operations – whether adding satellites to existing mines or developing properties in our portfolio – which will have an impact on the energy we use and the emissions we produce.
To achieve results that align with growth, we not only look at GHG intensity in terms of per unit of metal in concentrate at our operating mines, but we also consider potential emission reductions in the design of our advanced projects. At present, our GHG reduction focus is on minimizing the GHG intensity of our production. These efforts include finding ways to improve efficiency at our operations – through flotation and recovery improvements, for example – and fuel-switching, when practical.
PRACTICAL SOLUTIONS FOR MEETING OUR TARGETS
In 2021, to better understand the nature of our GHG footprint and our best options for approaching and achieving sustainable GHG reductions, we began work on a 10-year Greenhouse Gas Reduction Roadmap. The roadmap will identify key sources of emissions, including Scope 3 emissions, and the nature of the changes – operational or technical – that will be required to make full or significant changes in each source area. With this information, the corporate office and each business unit will determine what they can do in terms of future operational choices and capital investments to support sustainable reductions that will ensure we hit our targets for 2030 and 2050.