PJSC Polyus (LSE, MOEX: PLZL) («Polyus», the «Company»), has signed an open letter, joining its fellow members of the International Council on Mining and Metals (ICMM) in a collective commitment to decarbonize their operations and to reach net zero Scope 1 and 2 greenhouse gas emissions in the nearest decades.
The commitment, which is aligned to meeting the ambitions of the Paris Agreement, is fully in keeping with Polyus’ long-term approach to sustainable development and to reducing its contribution to global climate change.
The open letter — ICMM’s Climate Change Statement — represents a joint ambition from mining companies that make up one-third of the global metals and mining industry. It aims to encourage further industry members as well as suppliers and customers to join in similar decarbonisation efforts.
The collective commitment is grounded in the belief that meeting the UN Sustainable Development Goals will require cooperation from all stakeholders to seek and promote integrated approaches that strike the right balance between environmental, social and economic outcomes.
The open letter is available to view on the ICMM’s website at: https://www.icmm.com/
Pavel Grachev, Chief Executive Officer of PJSC Polyus, commented:
As an ICMM member, Polyus is proud to join in the organisation’s continuing efforts to drive the mining sector towards new sustainability standards. Today’s open letter from ICMM members reflects our collective recognition that we need to make substantive commitments on climate change. There is huge potential in the mining industry to improve efficiencies and introduce technologies that could substantially reduce our contribution to global GHG emissions. As an industry, we are in a position to make a meaningful difference for a more sustainable future for everyone, and collaboration is critical.
Addressing climate change is a strategic priority for Polyus. We already cover 100% of our electricity consumption with renewable sources and continue to support the development of the renewable energy sector in Russia. We have published a clear climate position statement and are in the process of developing our own, detailed climate strategy. We believe strongly in the importance of companies setting short, mid and long-term sustainability targets so that we can be accountable to our stakeholders both today and tomorrow.
Polyus is the world’s fourth-largest gold mining company by production volumes and the world’s largest gold miner in terms of attributable gold ore reserves. The company demonstrates the lowest production costs among major global gold producers.
Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
Forward looking statement
This announcement may contain «forward-looking statements» concerning Polyus and/or Polyus group. Generally, the words «will», «may», «should», «could», «would», «can», «continue», «opportunity», «believes», «expects», «intends», «anticipates», «estimates» or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law. Information in this announcement may constitute inside information.