Climate Change Risks and Opportunities
As a member of an energy-intensive industry, we understand that we have an important role in contributing to limiting global emissions. On account of this, we have realized that without concerted action, the implementation of further market mechanisms and policies that limit emissions or favour low carbon economies could potentially expose us to risks and additional costs.
We have supported international agreements on climate change. We also support Canada’s and Mexico’s ratification of the Paris Agreement, which brings all countries together to undertake efforts to combat climate change and adapt to its effects. We believe we can make a positive contribution to the achievement of the Paris Agreement’s goals, and we are proactively participating in industry and government outreach activities related to energy and climate change policy.
As a member of the Mining Association of Canada (MAC), we are prioritizing innovative policies and activities to address climate change and are promoting efficient and responsible energy use in our projects and operations.
We are committed to an effective response to climate change, and will:
- continue to meet or exceed regulatory requirements, and where appropriate, contribute to the development of new regulations;
- monitor and report GHG emissions consistent with international standards;
- share and promote good practices of energy efficiency and GHG emissions reduction across the mine sites;
- promote the development and use of renewable energy where economically viable;
- monitor the development of new technologies and products, which, if substituted for existing processes, would result in an overall reduction in GHG emissions; and consider options to reduce GHG emissions in the design of new projects and operational upgrades.
We will continue to work with industry bodies, suppliers, governments and civil society in order to participate in a framework that will ensure effective and efficient responses to the global challenge of climate change. We are also working towards setting a new long-term goal to extending our commitment to climate change, based on what we accomplished and learned from our Energy Strategy in 2016.
Related to climate change, there are both regulatory and physical risks and opportunities.