Climate change is real, it is directly influenced by human activity, and it requires decisive global action to address.
At Teck, we believe our company and our industry have an important role to play in helping tackle the global challenge of climate change. That includes working to reduce our own emissions as well as advocating for policies that support the world’s transition to a low-carbon economy.
We recognize that our activities consume energy and generate significant greenhouse gas (GHG) emissions. This is why Teck has set ambitious targets to reduce our carbon footprint. To date, we have cut our GHG emissions by over 200,000 tonnes and our long-term target is to reduce GHGs by 450,000 tonnes by 2030.
At the same time, we know that the metals and minerals we produce are essential to building the technologies and infrastructure necessary to reduce GHGs and adapt to the effects of climate change. For example, renewable energy systems can require up to 12 times more copper compared to traditional energy systems; and steel and the steelmaking coal required to make it is necessary for infrastructure that reduces emissions, such as rapid transit and wind turbines. Continued responsible production of these metal and mineral products is essential to the global effort to combat human-caused climate change.
We believe that mining has an important role to play in addressing the global challenge of climate change. Our activities consume energy and create GHG emissions, but at the same time, the metals and mineral products we produce are essential to building the technologies and infrastructure necessary to reduce GHGs and adapt to the effects of climate change. For example, building the average wind turbine requires about 180 tonnes of steel which, in turn, requires about 100 tonnes of steelmaking coal to produce. Many renewable energy systems also require as much as 12 times more copper than traditional energy systems, in order to ensure efficiency.
At Teck, we are committed to supporting society’s move towards a lower-carbon future. That is why we are implementing initiatives to reduce our own emissions, and actively advocating through industry organizations and directly with governments for effective and efficient carbon pricing, which we believe can materially reduce emissions.
An effective price on carbon is one which reduces global emissions by ensuring that all emitters and all jurisdictions are contributing to solutions, while an efficient price on carbon facilitates the greatest amount of real reductions in GHG emissions at the lowest cost. By applying a carbon price for all emitters, all sectors of the economy are incentivized to play their part in solving a challenge to which we are all contributors. This approach is critical to the long-term success of global emissions reductions.
Teck currently pays approximately $50 million annually in carbon taxes from our seven operations in British Columbia, Canada, which has one of the highest carbon taxes in the world.
We are working to shrink our carbon footprint by reducing greenhouse gas emissions associated with our mining and processing activities. We are focused on continually improving our energy efficiency and reducing emissions through new technologies and process innovations
Since 2011, Teck has reduced GHG emissions by over 200,000 tonnes– the equivalent of taking more than 40,000 cars off the road. We are focused on continuing to work to drive our emissions even lower and have set ambitious targets to further cut emissions and improve energy efficiency at our operations. Our target is to reduce our emissions by 450,000 tonnes by 2030, which would be the equivalent of taking over 95,000 cars off the road.
As a result of our work to date, Teck is now one of the lowest GHG emission-intensity miners in the world. According to data from the International Council of Mining and Metals (ICMM), our steelmaking coal and copper production rank among the lowest for carbon intensity compared to the global mining industry. Carbon intensity is a measure of the GHG emissions generated during production of a given unit of a commodity – eg: the amount of CO2 generated per tonne of copper or steelmaking coal produced.
Our approach to ensuring Teck remains competitive throughout the shift to a low-carbon economy is focused on ensuring our operations remain efficient and low cost, and having a diversified mix of products to enable us to respond to changing demand.
Meeting Changing Demand
As the world transitions to a low carbon economy there will naturally be shifts in demand for certain commodities – demand for those required for low-carbon technologies may increase while others may decrease. At Teck, our diversified mix of products all have a role to play in the low-carbon economy of the future. This puts us in a strong position to adapt to meet changing market demand.
The minerals and metals we produce — including steelmaking coal, copper and zinc — are some of the basic building blocks of low-carbon technology and infrastructure.
We are focused on continuing to reduce costs to ensure our mines remain efficient and low-cost. This gives us increased ability to weather potential carbon-related costs and shifts in demand, while remaining competitive. Cost reduction is also supporting carbon reduction at Teck. Measures to improve the efficiency of our operations often also lead to further reductions in the carbon intensity of our mining activities.
We believe that all sectors of the economy must play a role in tackling the challenge of climate change. That is why Teck supports implementation of low-carbon technologies and advocates for measures that support society’s transition to a lower-carbon economy.
Teck is a signatory of the 2015 Paris Pledge, in support of the Paris Agreement on Climate Change. The Paris Agreement provides a global framework for action on climate change, and targets to hold the increase in the global average temperature to well below 2°C above pre-industrial levels.
We are also actively advocating for policies that reduce emissions, including broad implementation of carbon pricing. We believe that broad-based pricing of carbon is one of the most effective ways to incentivize real reductions in GHG emissions by ensuring that all emitters contribute to the solution.
As part of this advocacy, Teck was the first Canadian resource company to join the Carbon Pricing Leadership Coalition, a partnership of national and sub-national governments, businesses, and organizations working toward integrating carbon pricing into the global economy. We are also a member of the Council for Clean Capitalism.
Our primary focus is on taking action now to limit climate change by reducing emissions and advocating for climate action strategies; however, we recognize that ongoing changes to climate could pose a potential physical risk to our mining operations and related infrastructure, such as transportation systems.
These risks could be in the form of increased temperatures, changes in precipitation, changes in freshwater levels or increases in extreme events, such as droughts, floods or storms.
In response, we are incorporating a range of climate parameters into our project designs and ongoing mine planning processes – including closure and reclamation planning – in order to ensure our sites remain resilient as the climate changes.
of reductions in greenhouse gases from Teck operations since 2011
of alternative energy generation established by Teck
of annual greenhouse gas reductions targeted for 2030