3 KPIs for Climate Change: Sustainable Mining

In the face of escalating climate concerns, the mining industry plays a pivotal role in advancing environmental stewardship and sustainable practices. The Climate Change Protocol, under the Towards Sustainable Mining (TSM) initiative by the Mining Association of Canada (MAC), embodies a strategic approach to managing climate-related risks and harnessing opportunities for a more sustainable future.

The 3 Indicators

The Climate Change Protocol serves as a cornerstone for mining companies, offering a structured pathway to assess and enhance their climate change management practices. It is crafted to propel the mining sector towards achieving the goals outlined in the Paris Agreement and to align with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. This alignment is pivotal for enhancing the industry's capacity to assess and price climate-related risks accurately.

1. Corporate Climate Change Management

At the corporate level, the protocol mandates a comprehensive climate change strategy, encompassing governance structures, risk management, and integration of climate considerations into business planning. It advocates for transparency and annual public reporting, ensuring that stakeholders are informed about the company's climate strategies and performance.

2. Facility Climate Change Management

This indicator emphasizes the importance of implementing systems at the facility level to manage energy use, GHG emissions, and physical climate impacts. It underlines the need for annual reviews, awareness programs, and engagement with communities of interest (COI) to foster a collaborative approach to climate change mitigation and adaptation.

3. Facility Performance Targets and Reporting

Setting ambitious yet achievable performance targets for energy use and GHG emissions is crucial. This indicator encourages facilities to not only establish these targets but also to publicly report their progress, thereby fostering accountability and transparency.

Each indicator is assessed across five performance levels (C, B, A, AA, AAA), with specific criteria outlining the expectations at each level. This structured approach allows for a clear understanding of current performance and areas for improvement.

The Path Forward

For mining executives and experts, engaging with the Climate Change Protocol is not merely a compliance exercise. It represents a strategic commitment to environmental stewardship, operational excellence, and social responsibility. By integrating climate change considerations into every facet of their operations, mining companies can contribute significantly to global efforts to combat climate change, while also enhancing their competitiveness and sustainability in the long term.

Download the protocol and learn more about the TSM initiative at Mining Association of Canada's website.