The MCA Climate Action Plan Progress Report 2022 demonstrates the mining industry's continuing action to reduce emissions as it works towards an ambition of net zero by 2050.
Building on the 30 actions identified in the first Climate Action Plan released in 2020, this progress report provides an update on how the industry is progressing these measures and keeping emissions as low as possible.
In the face of unprecedented demand and value growth for Australian metals and minerals, the progress report confirms that 93 per cent of measures contained within the Plan have commenced, and 80 per cent are on track in year two.
A number of member climate initiatives announced during 2021-22 are highlighted and demonstrate member commitments to emissions reduction and the vital role technology development and deployment will play in the pathway to net zero.
These include initiatives around hydrogen-fuelled freight, electric and autonomous vehicles, solar plants and battery storage, methane capture and conversion, CO2 emissions tracking systems, renewable energy agreements, battery minerals contracts and LNG-fuelled bulk carriers.
In late 2021, the MCA confirmed the industry's ambition to achieve net zero by 2050 and members adopted the globally recognised TSM sustainability management and accountability system.
The progress report provides an update on emissions data from the federal compliance schemes - the National Greenhouse and Energy Reporting scheme (NGERs) and the safeguard mechanism.
Between FY20 and FY21, MCA member companies continued to adopt and invest in new low emissions technologies and these efforts have helped to reduce Scope 1 emissions in FY21 by 3.6 per cent, virtually level with emissions in FY18. Overall, member companies reduced their NGERs scope 1 and 2 emissions by 4.7 per cent in FY21.
The Climate Action Plan progress report was released during Minerals Week 2022, the MCA's annual opportunity to engage with decision makers in Canberra.
The event provides a high-profile platform for the executive leadership of Australian mining to discuss, debate and develop the policies that create jobs, support investment and sustain the wellbeing of mining communities and the national economy.
