A new roadmap by the International Copper Association—ICA—members have aligned on an ambition to reach net zero in Scope 1 and Scope 2 emissions by 2050, and work toward the same goal for Scope 3 emissions.
As copper demand is set to double by 2050, the roadmap, Copper—The Pathway to Net Zero, sets out a clear ambition for ICA’s members—among the largest producers of refined copper in the world—to reduce Scope 1 and 2 emissions by 30-40 percent by 2030 and by 70-80 percent by 2040.
A lot of the increasing demand for copper, up to 50 million tonnes by 2050, is due to its future use in abatement of CO2 emissions across many industries . The Report estimates that they have identified the key role of copper in achieving a two thirds reduction in global CO2 emission up to 2050.
Regarding Scope 3 emissions, members will work with value chain partners to reduce emissions 10 percent by 2030, 30-40 percent by 2040, and 60-70 percent by 2050. These collective ambitions show a clear trajectory to achieving defined emissions reductions of up to 85 percent by 2050, with the balance to be addressed through advanced technologies and enhanced collaboration with value chain partners.
Refined copper production emitted an estimated 97 million tonnes of CO2 equivalent in 2018. Scope 2 emissions accounted for 46 percent of these emissions, followed by Scope 3 at 31 percent and Scope 1 at 23 percent. This constitutes around 0.2 percent of global man-made emissions.
The International Copper Association Australia has also released three reports into different aspects of net zero copper mining over the last three years and CEO John Fennell said he welcomes the new study from the global ICA body.
ICA estimates that certain industry needs and policy goals must also be met in order to hit the roadmap’s goals. These include further research and development into innovative technologies for emissions reduction, the decarbonization of local power grids and regulatory certainty, including fair and stable royalties and long-term mining licenses.
The roadmap states how ICA members will reduce Scope 1 and 2 emissions through four abatement levers based on market-ready and developing technologies: alternative fuels, equipment electrification, decarbonized electricity, and energy efficiency.
Moreover, the collective ambition outlined in the roadmap is based on current knowledge of decarbonization technologies and on a set of sound hypotheses about availability at scale, and the cost and abatement potential of these technologies. If required at all, carbon offsets and commercially unrealized technologies like carbon capture would be limited to minimal, highly specific cases.
The copper industry produces a key raw material used in a vast array of energy generation, energy transmission and digital applications, as well as energy-using products. Copper is essential for the transition toward a carbon-neutral economy and, as a result, global demand for copper is expected to double by 2050. It is therefore vital that the industry sets down clear best practice guidelines to help others reach the targets outlined in the commitments made in the Paris Agreement on December 12, 2015.
Full Report: ICA-GlobalDecarbonization-202301-Final-singlepgs