Business
TCFD PROGRESS REPORT
TCFD PROGRESS REPORT.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8954L\n Antofagasta PLC\n 15 September 2021\n \n \n \n \n NEWS RELEASE, 15 SEPTEMBER 2021\n \n \n \n \n \n TCFD PROGRESS REPORT\n \n \n Antofagasta (\"the \"Company\") today releases a progress report on its implementation of the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report provides an overview of the Company's TCFD-related work to date and its climate resilience response. The Company plans to achieve full disclosure against the TCFD recommendations during Q1 2022.\n \n Ivan Arriagada, Antofagasta CEO commented: \"We recognise that climate change is one of the greatest challenges facing society and our company today. A successful transition to a low-carbon economy requires a significant input of copper as a vital ingredient of renewable power generation and electrification of transportation so it is our responsibility as one of the world's largest copper producers to ensure we understand and reduce exposure to climate risks. \n \n \"Our long-term vision is to minimise our emissions, enhance water security and have resilient operations\". \n \n \"We are strengthening our climate resilience, adapting to today's climate change impacts, whilst also mitigating against emerging climate risks and seizing opportunities to decarbonise our business. The TCFD recommendations provide a welcome framework for us to share with our stakeholders our journey to combat climate change and manage its impacts.\"\n \n TCFD Progress Report Highlights:\n \n Governance\n \n · The Board of Directors has ultimate responsibility and oversight for climate-related issues\n \n · Climate-related responsibilities are assigned to specific management-level positions and employees and managers are held accountable through annual performance agreements.\n \n Strategy\n \n · Two scenarios are being used to reflect two extremes of climate change:\n \n o An 'aggressive mitigation' scenario under which significant policy and regulatory action and rapid technological change imply that the rise in temperature remains well below 2°C (based on the Sustainable Development Scenario of the International Energy Agency (IEA))\n \n o A 'high-warming' scenario under which there is limited action taken to address rising emissions and...