Barrick Gold lifts emissions reduction target to 30% in ten years

BARRICK Gold had set a new emissions reduction target of at least 30% by 2030 measured against its 2018 baseline, said CEO Mark Bristow on Tuesday.

Commenting in a presentation to investors regarding the group’s sustainability goals, Bristow said the new target compared to a 10% emissions target set last for 2030. There was an interim target of 15% based on projects already being implemented while maintaining a steady production profile, he said.

“Ultimately our aim is to achieve net zero emissions by 2050, achieved primarily through greenhouse gas reductions and offsets for some hard-to-abate emissions,” Bristow said.  The presentation was the first of its kind for Barrick and coincided with the publication of Barrick’s 2020 Sustainability Report, the group said.

Bristow said the company’s ESG advances last year also included zero Class 1 environmental incidents, a new record of 79% water recycling and re-use by its operations and the introduction of fully functional community development committees at all its operating sites to guide its social investment programs.

Class 1 environment incidents were defined as an incident that “… causes significant negative impacts on human health or the environment or an incident that extends onto publicly accessible land and has the potential to cause significant adverse impact to surrounding communities, livestock or wildlife”, said Barrick.

“Sustainability has long been a strategic business priority for us,” said Bristow in the presentation. “Our strategy is based on four pillars: the creation of economic benefits for all stakeholders; the protection of health and safety at our mines and in their host communities; a respect for human rights; and the minimization of our environmental impacts.”