Providing energy in a sustainable way
We are commiped to continuously improving energy efficiency throughout our operations. This includes initiatives to decrease fossil fuel consumption and increase renewable energy use, to help decrease our greenhouse gas emissions (GHG).
In addition to this, we take climate change risks into consideration when planning our environmental and community development programmes and we work with the state, our host communities and business partners to do as much as we can to mitigate such risks.
In addition, we support the carbon offsecng mechanisms established by the Colombian government. We have taken up the challenge to making our mining and port operations carbon- neutral, by both supporting carbon capture projects that focus conservation and restoration of forests directly, and by signing up for carbon certificates based on such projects.
The Colombian fiscal reform bill 2016-2017 (Law 1819 of 2016) created a tax on the carbon content of all fossil fuels. In April 2018 we became the first private Colombian company to sign up for the multi-annual purchase of carbon credit certificates. This involves working with the 20 Colombian Pacific ethno-territorial communities represented by the NGO Fondo Acción. The agreement was made through the REDD + Pacific project, which is funded by the United States Agency for International Development and supported by the Colombian Ministry of Environment and Sustainable Development, as well as the international NGO Conservación Internacional.
In November, we announced our first purchase of 40,000 carbon credits. This purchase will fund the conservation of 700,000 hectares of natural forest and support the peace process in the Colombian Pacific region. It is part of our commitment to sustainable territorial development and improving the lives of vulnerable communities.
We have also worked with some of the partners from the REDD+ project to explore opportunities for developing land carbon projects in the Colombian Caribbean. This includes working with Conservación Internacional on a pre-feasibility study for a carbon project in the Sierra Nevada de Santa Marta. This is home to the indigenous Arhuaco people and one of the most important and iconic ecosystems in the Caribbean, being vital for water, climate regulation, biodiversity, agricultural products and tourism.
Climate Report 2020: Pathway to Net Zero
In that sense, we align to the policies and commitments defined by our parent company Glencore regarding the reduction of CO2 emissions and the fulfillment of the objectives of the Paris Agreement. We invite you to consult the in which Glencore announces its ambition to be a net zero total emissions company by 2050.