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Glencore says it is running down coal mines and won't replace them

Fri, 16th Oct 2020 09:55

JOHANNESBURG, Oct 16 (Reuters) - Glencore CEO Ivan
Glasenberg said on Friday that the company is running down its
coal mines and won't replace them, as part of its efforts to cut
"Scope 3" emissions - indirect emissions which mining companies
are under increasing pressure to address.

Glasenberg said the company's Scope 1 and 2 emissions
represent just 10% of its Scope 3 emissions - an indication of
how important these indirect emissions are. Glencore has
committed to a 30% reduction in Scope 3 emissions by 2035.

He said his focus was on running down existing coal mines,
rather than spinning them off. "I don't see how spinning off
coal mines will help us reduce Scope 3 emissions," Glasenberg
said.

(Reporting by Helen Reid and Tanisha Heiberg; editing by Jason
Neely)

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