Gold mining is not only energy-intensive but is also challenging. Miners weigh various factors like geology, ore grades, depth, and transport distances which could potentially turn into challenges as well. However, as the world is transitioning to sustainability, gold fields are significantly considering reliable energy supply and management not just for power operations but also for reducing emissions.

The gold mining industry as a whole has a clear path to decarbonization that aligns with the Paris Agreement. They aim to cut absolute emissions by 50% and net emissions by 30% on their journey to net zero by 2050.

S&P Global Commodity Insights recently launched a gold emissions curve that showed, in 2024 emissions were lower than the 2021 baseline. It revealed:

“329 primary gold mines emitted greenhouse gases at an average rate of 792 kilograms of CO2 equivalent per paid ounce of gold (kgCO2e/oz Au) produced, 39 kgCO2e/oz Au. The emissions are lower than in 2021.”

Tackling Scope 1 and Scope 2 Gold Emissions

The report further illustrated that Since 2021, Scope 1 and Scope 2 emissions per ounce of gold produced have steadily declined. The overall progress was a result of renewable adoption for electricity generation, operational improvements, and technological upgrades in on-site operations. In this regard, many gold mining companies turned to power purchase agreements and carbon offsets in their decarbonization strategy,

However, addressing Scope 1 emissions still remains a challenge. This is because they are related directly to mining operations like equipment use, fuel consumption, and diverse on-site processes.

• Scope 1 emissions increased by 0.68 million metric tons of CO₂ equivalent between 2021 and 2023.

Conversely, scope 2 emissions are easier to mitigate and have shown remarkable improvements. They are associated with purchased electricity, heating, cooling, and steam, and have shown notable improvements.

• In 2023, Scope 2 emissions accounted for 39% of total emissions, down from 41% in 2021.
• Scope 2 emissions dropped by 1.32 million metric tons with the 2021 baseline despite the increase in gold production by 2.1 million ounces.

Top 3 Low Emitter Gold Mines 

Lundin Gold’s Fruta del Norte

Lundin Gold Inc., based in Vancouver, British Columbia, is a Canadian mining company with a strong focus on sustainability and efficiency. The company 100% owns the Fruta del Norte gold mine in southeast Ecuador, which has been producing gold since late 2019.

Known for its low carbon emissions, high-grade output, and cost efficiency, Fruta del Norte is among the most environmentally responsible and productive gold mines globally. In 2023, it achieved an impressive production of 481,274 ounces of gold, making it one of South America’s largest gold producers.

The company holds 28 metallic mineral concessions and three construction material concessions in Ecuador’s Zamora Chinchipe province. As per its sustainability report,

• Lundin Gold maintains an industry-leading greenhouse gas (GHG) emissions intensity of just 0.08 tCO2e per ounce of gold produced. This makes the miner a top low-carbon gold producer.

The mine is powered by Ecuador’s national grid, which sources 81% of its energy from renewables. This is how it achieves significantly lower Scope 2 emissions.Source: Lundin Gold

Centerra Gold Inc.

In 2023, Centerra Gold Inc. achieved a 77% drop in emissions intensity at its Öksüt mine, despite production suspension in 2022 due to mercury detection. They resumed operations in 2023 and sold higher gold ounces after resuming operations in June 2023. A mercury abatement system was installed to restart the mine. This led to the production of 195,926 ounces of gold—the highest since 2020- and consequently, it cut down emissions.

As per their sustainability report,

• Global Scope 1 emissions totaled 107,384 metric tons of CO₂e in 2023. The company’s two main operating mines, Mount Milligan and Öksüt, accounted for 90,655 metric tons.

Mount Milligan reduced emissions by 7% due to shorter haulage distances and optimized pit sequencing, while Öksüt achieved a 21% decrease from temporary mining interruptions and improved haulage cycles.

• Global Scope 2 emissions totaled 33,790 metric tons of CO₂e in 2023, with 13,185 metric tons from Mount Milligan and Öksüt.

Despite a 7% rise in electricity use, emissions remained stable through efficient energy use. Notably, Scope 3 emissions, with purchased goods and services contributed to more than 50%.

Source: Centerra-Gold

The company uses the Greenhouse Gas Protocol for emissions reporting and is exploring cost-effective decarbonization pathways to cut Scope 1 and Scope 2 emissions in the coming years. Additionally, it is evaluating opportunities to reduce scope 3 emissions.

Agnico Eagle Mines Ltd.

The Canada-based gold mining company, is the world’s third-largest gold producer, with operations in Canada, Australia, Finland, and Mexico. In 2023, the company achieved significant progress in reducing its emissions, particularly with its Kittila mine, which halved its Scope 2 emissions intensity. They achieved this by sourcing all of its grid electricity from zero-emission sources.

Source: Agnico Eagle

In total, Agnico Eagle produced 3.44 million ounces of gold in 2023, and all 11 of its active operations outperformed the industry average for emissions per ounce of gold produced.

The company’s total Scope 1 and 2 emissions in 2023 were 1,337,000 tCO₂e, a 3% reduction from 2022 and a 5% decrease from the 2021 baseline.

The mining giant has robust plans to upgrade its technological innovation, decarbonization efforts, and its Energy and Greenhouse Gas Management Strategy. Its dedication to sustainability and emissions reduction underscores its leadership in responsible gold production.

Other Players

For 2023, PJSC Polyus has fully offset its Scope 2 emissions since 2021 by sourcing renewable energy and acquiring carbon-free electric energy certificates from H2 Clean Energy LLC to cover 72,000 metric tons of CO₂e in 2023.

Additionally, Kinross Gold Corp. reduced its Scope 2 emissions intensity by 31% and Barrick Gold’s Nevada operations significantly cut 197,000 metric tons in 2023 with the 2020 baseline.

These reductions primarily came from renewable energy sources like hydroelectric and power purchase agreements to buy energy credits from solar power plants.

On the flip side, Sibanye Stillwater had the highest emission footprint… 

The S&P Global report also highlighted that among all gold mines, South African mines have record-high emissions. And Sibanye Stillwater’s Cooke operation topped the list. It recorded a massive amount of 9,980 kg CO₂e per ounce of gold in 2023. The mine relies heavily on electricity from South Africa’s coal-based grid and processes low-grade historic tailings through two plants, Cooke and Ezulwini.

Outside South Africa, Pueblo Viejo in the Dominican Republic ranked second, with 3,236 kg CO₂e per ounce of gold in 2023, indicating a 25% rise from 2022. Emissions intensity increased due to a 22% drop in production, lower head grades, and reliance on diesel-powered plants.

Gold’s Role in a Sustainable Future

Gold plays a key role in modern technologies and the shift to a low-carbon economy. Its inclusion in investment portfolios also boosts resilience against climate risks, solidifying its status as a sustainable asset in global finance.

The gold mining industry is aligning with sustainability goals by cutting its carbon footprint while increasing production. This balance highlights better energy efficiency, cleaner technologies, and improved operational strategies.

• READ MORE: Orano’s Unlikely Uranium Partner GoldMining (GLDG) Makes Big Strides at Rea 

The post Gold Emissions Trends: Who Are the Top 3 Low Emitters? appeared first on Carbon Credits.

Vale Base Metals, one of the world’s largest producers of high-grade nickel has wrapped up the US$2.94 billion Voisey’s Bay Mine Expansion Project in northern Labrador. This milestone transforms the mine from open-pit to underground operations, significantly boosting nickel production to 45,000 tons per year (45 ktpy).

Vale’s Underground Mines Drive Mineral Expansion

Vale announced on December 3 that the expansion includes two new underground mines—Reid Brook and Eastern Deeps. These mines will provide nickel concentrate for Vale’s Long Harbour Processing Plant in Newfoundland. Notably, it is one of the lowest-emission nickel processing facilities in the world as its production aligns with sustainable practices.

The company’s net-zero goals include:

• Reduce emissions (scope 1 and 2) by 33% by 2030 and carbon neutral by 2050;
• Reduce net emissions (scope 3) by 15% by 2035.

Apart from nickel, the expansion will deliver 20 ktpy of copper and 2.6 ktpy of cobalt which are essential for industries like defense, battery electric vehicles (BEVs), and clean energy infrastructure. Voisey’s Bay, a significant supplier to the United States, strengthens its role in the critical minerals supply chain. Full production ramp-up is expected by the second half of 2026.

Shaun Usmar, CEO of Vale Base Metals, the critical minerals subsidiary of Vale SA said,

“The successful completion of the Voisey’s Bay expansion demonstrates our commitment to unlocking the value of our endowment and delivering responsibly produced nickel to global markets.”

• READ MORE: Primary Nickel Production Surges 35%: Which Companies Are Nailing It?

Boosting Jobs and Economic Growth

Along with critical mineral expansion and supporting the economy the project has created immense job opportunities. It has given direct employment to 1,100 workers at Voisey’s Bay. This figure has jumped from 600 before the expansion. Furthermore, at the peak of the construction phase, it engaged 3,400 direct and indirect employees.

The transition supports Vale’s goal of creating shared value for Newfoundland and Labrador through job creation, procurement, and partnerships.

CEO Usmar added,

“Ensuring local economic benefits from Voisey’s Bay remains a key priority for the company, and we are proud of the collaborative relationship we have with Indigenous Partners, Innu Nation & Nunatsiavut Government, on whose traditional lands the Voisey’s Bay complex is located.”

Vale has emphasized its commitment to fostering local economic benefits. Collaborating with Indigenous partners, including the Innu Nation and the Nunatsiavut Government, the company ensures that the project respects and benefits traditional landowners.

Lastly, Usmar also assured that,

“ Voisey’s Bay entered production in 2005 and, with the completion of the expansion project, will continue to be an important engine of economic growth in Newfoundland & Labrador and provide low-carbon, high-purity nickel for many years to come.”

Vale Bolsters Global Nickel Supply

This expansion enhances Vale’s Canadian operations by reducing unit costs in its nickel segment and securing a stable supply of critical minerals. These resources are sourced responsibly from a trusted jurisdiction. They are then shipped globally for further application in defense systems, clean energy projects, and electric vehicles.

Nickel’s Long-Term Demand Stays Strong

Nickel is valuable for global energy transition, economic security, and industrial independence. This shiny metal is used in manufacturing stainless steel, batteries, and alloys for equipment, transport, buildings, and power generation.

CarbonCredits reported earlier that demand for battery-grade nickel is projected to grow significantly by the end of the decade due to rising electric vehicle (EV) adoption. However, the nickel market faced more volatility and uncertainty in November 2024, according to S&P Commodity Insights data. It is largely attributed to macroeconomic and political developments following Donald Trump’s U.S. presidential election victory. 

Despite current challenges, the long-term outlook for battery nickel remains strong. Although weak demand and expanded supply have pulled nickel prices to their lowest levels since 2020, demand for battery-grade nickel is projected to grow 27% year-on-year in 2024.

Amid all these challenging market conditions, an emerging player is targeting U.S. nickel independence. Alaska Energy Metals Corporation (AEMC) is leading efforts to support the U.S. energy transition through its flagship Nikolai project in Alaska. The site holds a significant resource of nickel, copper, cobalt, and platinum group metals. And the Canadian Nickel Junior is sourcing them sustainably.

Thus, companies like Vale and AEMC will play a significant role in reducing U.S. reliance on imports with robust exploration plans for nickel and other critical minerals. 

• CHECK OUT: Unlocking Alaska’s Nickel to Drive America’s Clean Energy Revolution

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The Coca-Cola Company, which produces billions of bottles and cans each year, announced a new set of environmental goals for 2035, reflecting shifts in its approach to sustainability. These new targets revise earlier commitments across packaging, water stewardship, and carbon emissions. It marks a recalibration of the company’s long-term environmental strategy.

While some objectives remain steadfast, others have been scaled back or removed altogether. As such, Coca-Cola has come under fire from environmental groups for scaling back its carbon emissions and other sustainability commitments.

Here are the company’s new sustainability targets, as outlined in its updated environmental goals.

Climate Action: A New Approach to Carbon Emissions

The beverage giant has set a goal to reach net zero by 2050, while Coca-Cola in Europe has a more ambitious target of achieving it by 2040.

The company has revised its climate targets. Its previous goal was to cut absolute carbon emissions by 25% by 2030, based on a 2015 baseline. The Science-Based Targets initiative (SBTi) classified this target as aligned with a 2°C global warming trajectory.

• The updated 2035 goal, however, no longer includes an absolute emissions reduction target. Instead, Coca-Cola aims to reduce Scope 1, 2, and 3 emissions in line with a 1.5°C trajectory, using 2019 as a baseline. 

While this change aligns with more ambitious climate scenarios, it lacks specific percentage reductions previously outlined. This shift raises questions about Coca-Cola’s commitment to ambitious climate action, especially as the 2015 Paris Agreement calls for significant reductions to limit global warming.

As stated in the company’s 2023 environmental update, Coca-Cola has made progress in reducing its absolute carbon emissions based on original targets:

• 8% decline in absolute emissions against a 2015 baseline.
• Systemwide renewable electricity use up 24% in 2023, from 21% in 2022.

Below is the company’s greenhouse gas emissions for three years. Both Scopes 1 and 2 have decreased in 2023 compared to 2021. But Scope 3 emissions (value chain emissions) have increased.

Packaging Goals: A Shift in Focus

In 2023, Coca-Cola’s operations generated nearly 6 million tonnes of packaging. These include 137 billion plastic bottles and 74 billion aluminum and steel cans, according to company data. This is why the company must focus on this sustainability area.

Packaging has been a cornerstone of Coca-Cola’s sustainability efforts, particularly through its 2018 “World Without Waste” initiative. This program set ambitious goals:

• Ensuring all packaging is 100% recyclable by 2025,
• Using at least 50% recycled content by 2030, and
• Collecting a bottle or can for every one sold by 2030.

In 2022, Coca-Cola added a goal for 25% of its beverages to be sold in refillable containers globally.

In its latest update, Coca-Cola reported significant progress toward making all packaging recyclable, with 90% already meeting this standard. However, the company acknowledged falling short on other packaging goals.

• The recycled content target has been reduced from 50% by 2030 to a new range of 35%-40% by 2035. Similarly, its collection goal has been adjusted to 70%-75% by 2035, down from 100% by 2030.

The company also removed its goal for refillable packaging, explaining that it will focus on areas with existing infrastructure for reusable containers. Instead, Coca-Cola plans to prioritize increasing recycled content in primary packaging and improving collection rates.

Its revised efforts will center on two key pillars:

• “Design,” which involves creating packaging that is fully recyclable, and
• “Partner to Collect,” emphasizing advocacy for well-designed collection systems and investments in local recycling infrastructure.

RELATED: Apple’s iPhone 16 Slashes Carbon Footprint by 30%

The soda manufacturer also made significant changes in its water use and agricultural sourcing.

Water Stewardship: A Broadened Commitment

Water management remains a critical component of Coca-Cola’s sustainability framework. The company reaffirmed its commitment to replenish more than 100% of the water used in its finished products globally, a milestone it has consistently achieved since 2015.

• Additionally, Coca-Cola expanded its focus on water in high-risk locations. Previously, the goal was to return 100% of water used in 175 high-risk sites by 2030.

Now, the target encompasses all high-risk locations—more than 200 sites—by 2035. This broader commitment reflects the company’s growing emphasis on supporting local ecosystems and communities where water resources are under stress.

Agriculture and Sustainable Sourcing

• Coca-Cola has removed its goal to source 100% of its priority agricultural ingredients according to its Principles for Sustainable Agriculture.

Despite this, the company pledged to continue working with suppliers and third-party stakeholders to advance sustainable sourcing practices. Efforts will focus on reducing water use, lowering emissions, preventing deforestation, and conserving high-risk areas in its supply chain.

From Ambition to Adjustment: A Strategic Recalibration

Coca-Cola considered these adjustments a strategic recalibration based on decades of sustainability work, assessments of progress, and emerging challenges. In its press release, the company acknowledged the complexity of these issues and the need for more efficient resource allocation to deliver meaningful impact.

Bea Perez, Coca-Cola’s Executive Vice President and Global Chief Communications, Sustainability & Strategic Partnerships Officer, emphasized the importance of collaboration in addressing these challenges.

“We remain committed to building long-term business resilience and earning our social license to operate through our evolved voluntary environmental goals. These challenges are complex and require us to drive more effective and efficient resource allocation and work collaboratively with partners to deliver lasting positive impact.”

Yet, critics argue the adjustments undermine progress in combating pollution and climate change. Moreover, advocacy groups call on the company to uphold stronger environmental standards.

Revised Targets, Renewed Criticism: What’s Next for Coca-Cola?

Coca-Cola’s retreat comes at a time when global negotiations on reducing plastic pollution face significant hurdles. Talks for the world’s first legally binding UN treaty on plastics recently stalled, reflecting broader challenges in tackling the plastics crisis.

Environmental organizations have strongly criticized Coca-Cola’s revised carbon emissions, packaging, and water management goals. Oceana’s Matt Littlejohn labeled the new approach “short-sighted” and warned it could exacerbate the flood of single-use plastics entering waterways and oceans.

Further, Coca-Cola’s softened sustainability stance coincides with growing legal pressures on beverage companies for their plastic waste. In October 2024, Los Angeles County sued Coca-Cola and PepsiCo for misleading claims about the recyclability of their products, arguing that most plastics cannot be disposed of without harmful environmental effects.

The controversy arising from this environmental update underscores the tension between corporate sustainability promises and the practical challenges of implementing them. Coca-Cola’s revised goals reflect a more cautious approach, but the backlash highlights the growing demand for bold action in addressing global environmental and sustainability crises.

• FURTHER READING: McDonald’s Balances Sales Decline with Bold Sustainability Goals

The post The Bottled Truth: Coca-Cola’s New 2035 Environmental Goals Face Sustainability Backlash appeared first on Carbon Credits.

Meta is making a bold move toward clean energy innovation by embracing nuclear power. On December 3, the company announced its plan to collaborate with nuclear power developers to meet growing electricity demands and achieve its artificial intelligence (AI) and environmental goals.

The social media giant announced in its press release,

“Our aim is to add 1-4 GW of new nuclear generation capacity in the U.S. to be delivered starting in the early 2030s. We are looking to identify developers that can help accelerate the availability of new nuclear generators and create sufficient scale to achieve material cost reductions by deploying multiple units, both to provide for Meta’s future energy needs and to advance broader industry decarbonization.”

This strategic decision highlights how nuclear energy will support future technology and sustainability needs.

Meta’s Collaborative Approach to Nuclear Development

To put this in perspective, a typical U.S. nuclear plant produces about 1 GW of electricity. As electric grids and AI infrastructure expand, energy demand will inevitably rise.

This is why Meta plans to bet big on nuclear power to boost electric grids with reliable, low-carbon energy sources. Subsequently, the company will release a request for proposals (RFP) to attract nuclear energy developers who will support its AI and sustainability goals.

They are precisely looking for developers to fast-track new nuclear generators that can lower costs through scalable deployment. Meta will work closely with its partners who will be responsible for designing, financing, building, and operating the nuclear plants with a long-term and strategic approach.

Meta plans to engage in nuclear projects right from the initiation stage to tackle challenges and create agreements crafted according to the needs of the technology. However, this is not something new, they have followed the same strategy and have achieved success with renewable energy. Notably early partnerships led to innovative and mutually beneficial contracts.

• READ MORE: ENGIE Powers Up Meta: New 260 MW Solar Deal Fuels Net-Zero Goals

Why Meta Wants to Invest in Nuclear?

Meta has always been an advocate for renewable energy adoption, having matched its global operations with 100% clean and renewable energy since 2020.

To date, the company has secured over 12,000 MW of renewable energy contracts, spanning solar, wind, and battery storage projects. Recently, it added geothermal energy to its portfolio.

However, nuclear energy offers a unique opportunity. Unlike solar and wind, nuclear power provides consistent energy output regardless of weather conditions. Meta considers this as crucial for ensuring grid reliability due to rising AI workloads and surging energy demands from data centers.

Yet, nuclear projects are significantly different. They are more capital-intensive, involve longer development timelines, and face stringent regulatory hurdles. Despite these challenges, their extended operational lifespan and potential to reduce carbon emissions make them an attractive option for long-term energy planning.

Additionally, as they look ahead to partnerships across multiple projects and locations, this approach will enable strategic deployment. Furthermore, the RFP process will help Meta address these opportunities carefully and thoughtfully, ensuring all factors are considered.

• MUST READ: More Power per Punch: Nuclear Energy Outshines Fossil Fuels

Meta Partners with Entergy on $10B AI Data Center Infrastructure Boost

Following its announcement about its nuclear endeavors, Meta unveiled plans to invest $10 billion in constructing its largest AI data center in Richland Parish, Louisiana. This hyperscale facility will handle massive data processing demands essential for advanced digital infrastructure and AI workloads.

To power this enormous facility sustainably, Meta has partnered with utility provider Entergy. Together, they aim to match the data center’s electricity use with 100% clean and renewable energy. Entergy plans to enhance its grid with clean, efficient power plants and will contribute at least 1,500 MW of new renewable energy through its Geaux Zero program.

Meta is also committed to supporting local communities. The company has pledged up to $1 million annually to Entergy’s “The Power to Care” program, which assists low-income ratepayers. Entergy Louisiana will match this contribution, amplifying its impact.

Kevin Janda, Meta Director of Data Center Strategy said,

“Meta is building the future of human connection and the technology that makes it possible. And this data center will be an important part of that mission. “Richland Parish in Louisiana is an outstanding location for Meta to call home for a number of reasons. It provides great access to infrastructure, a reliable grid, a business-friendly climate, and wonderful community partners that have helped us move this project forward. We’re thrilled to be a new member of the Richland Parish community and are committed to investing in its long-term vitality.”

Meta’s Impressive Emissions Reductions in 2023

According to Meta’s latest sustainability report, Since 2021, Meta has slashed its overall emissions by a staggering 16.4 million metric tons of CO2e through renewable energy efforts.

In 2023, Meta reported net emissions of 7.4 million metric tons of CO2e, adhering to the Greenhouse Gas Protocol for transparency. Once again through renewable energy procurement, the tech titan cut operational emissions by 5.1 million tons of CO2e.

They used renewable energy certificates to tackle Scope 3 emissions linked to fuel use, consumer hardware like Meta Quest headsets, and remote work. This reduced value chain emissions by 1.4 million tons of CO2e in 2023 alone.

 Here’s how the company is delivering on its climate commitments:

• Reduce Scope 1 and 2 emissions by 42% from 2021 levels by 2031.
• By 2026, two-thirds of suppliers are expected to adopt science-based emissions targets.
• Keep Scope 3 emissions at or below 2021 levels by 2031.

Source: Meta

These milestones reflect Meta’s ongoing approach to shrinking its carbon footprint.

As Meta scales its AI capabilities and data infrastructure, sustainability remains a core priority. By combining renewable energy, nuclear power, and community support, Meta is setting a new standard for sustainable innovation in the tech industry.

See how other tech giants are turning to nuclear to sustain their AI and data center expansion plans:

• Google and Kairos Power Unveil Groundbreaking 550 MW Nuclear Energy Initiative • Carbon Credits
• Amazon Turns to Nuclear and SMRs For Its $52B Data Center Expansion 
• Larry Ellison’s $100 Billion Bet: Nuclear Power to Drive Oracle’s AI Revolution

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