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Hudbay Minerals Announces Climate Change Initiatives, 2030 Greenhouse Gas Reduction Targets and Net Zero Commitment
TORONTO, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) is pleased to announce its commitment to achieve ne
About this update from Hudbay Minerals Inc
[{"type":"text","content":" TORONTO, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) is pleased to announce its commitment to achieve net zero greenhouse gas (“GHG”) emissions by 2050 and the adoption of interim 2030 GHG reduction targets to support this commitment. In 2021, Hudbay initiated a roadmap to further identify and manage risks associated with climate change, and opportunities to reduce GHG emissions in alignment with global decarbonization goals. While Hudbay’s operations are well-positioned in the lower half of the global GHG emissions curve for copper operationsi the company recognizes its role in mitigating climate change. Hudbay’s GHG emissions reduction plan includes the following initiatives: Pursuing a 50% reduction in absolute Scope 1 and Scope 2 emissions from existing operations by 2030 (compared to 2021) Achieving net zero total emissions by 2050 Reporting on material Scope 3 emissions in the near-term Assessing acquisitions and new projects against corporate emissions targets Continuing to be transparent with GHG performance data disclosure, including reporting total GHG emissions and GHG intensity Evaluating new technologies as they become commercially available and economically viable “Our GHG reduction targets were developed following a thorough review of our existing emissions and evaluation of reduction opportunities that are achievable without compromising the long-term economics of our operations and projects,” said Peter Kukielski, President and Chief Executive Officer. “We are proud to be able to align with global goals of a 50% reduction in emissions by 2030 and a commitment to net zero by 2050. We are producing metals the world needs to transition to a low-carbon future and will continue to do so while contributing to sustainable development everywhere we operate.” Producing Metals Needed for Decarbonization Copper is Hudbay’s primary metal, representing approximately 60% of the company’s revenues. Copper is one of the critical metals needed for the global transition to a low-carbon future. The demand for copper is expected to grow with the increased use of the metal in renewable energy sources, energy storage and the electrification of vehicles. Hudbay has a leading organic growth pipeline with significant long-term copper optionality to add to its copper production pro...