- 2014 Performance
- Future Focus
Our operations are energy intensive – from the diesel needed to extract and transport ore to the electricity used to run the large processing and milling plants – and emit greenhouse gases (GHGs). The cost to meet our energy needs is around 18 percent of our total costs applicable to sales (CAS), and climate change-related events – such as drought, extreme storms and wildfires – present risks to our business. Another driver for energy efficiency is that our energy intensity – the amount of energy consumed per production unit – typically increases as we mine deeper ore and expand existing operations.
Our commitment to efficiently manage our global energy consumption to reduce our carbon footprint while exploring and developing renewable energy and low-carbon fuel-switching opportunities is stated in our Sustainability and Stakeholder Engagement Policy.
To realize this commitment, in 2014 we developed a global energy and climate change strategy to bring a strategic, but operationally driven, approach to managing energy and climate adaptation threats and opportunities. The strategy‘s objectives include:
- Secure stable, reliable, consistent quality and cost-effective electric power and fuel supplies to power our operations;
- Achieve sustainable cost and efficiency improvements;
- Collaborate internally and engage externally on energy policies and regulations, energy supplies, challenges and opportunities;
- Reduce our carbon footprint through renewable energy, energy efficiency strategies and carbon offsetting; and
- Adapt our operations and provide assistance to local communities to mitigate predictable physical impacts tied to climate change.
We measure and annually report our global GHG emissions data – which is independently assured – to the CDP.