Gold mining company Gold Fields Limited has committed to a set of key environmental, social and governance (ESG) targets for 2030. ESG now constitutes one of the three pillars for the company’s business strategy.
Published December 1, these ESG commitments for 2030 span decarbonisation; tailings management; water stewardship; safety, health and environment; gender diversity; and stakeholder value creation.
Gold Fields also published its 2020 performance against each target, and said it will report progress against these metrics as part of its annual results reporting each year.
On climate change, the company is a signatory to the Paris Agreement and committed to Net Zero carbon by 2050. For 2030, it intends to reduce its Scope 1 and 2 carbon emissions by 30% on a net basis and by 50% on an absolute basis by 2030.
For 2020, it achieved a reduction of 10% (absolute) and 5% (net) on Scope 1 and 2 emissions.
Further, Gold Fields will invest approximately US$1.2 billion on decarbonization until 2030, with about a quarter of that amount being self-financed. The rest would be funded through PPAs.
All projects are expected to be NPV positive, the company said.
Source: CISION PR Newswire
Image Source: Gold Fields Limited