Glencore presented additional climate commitments on Wednesday.
Next year, it will begin to release projections for reducing Scope 3 emissions, or greenhouse gas emissions, which are not directly related to its activities, but to the activities of vendors and suppliers. Glencore is also developing long-term emission reduction targets for Scope 1 and 2 and wants to make them public in 2020.
In addition, the company's board of directors will begin to assess its success by aligning its spending and investments with the goals set out in the 2015 Paris Climate Agreement, which aims to prevent increase by 2 degrees Celsius above pre-industrial levels.
The company also plans to combine the compensation of its executives with the achievement of climate change goals and determine whether its membership in commercial groups meets these objectives.
Glencore made the announcements after working with Climate Action 100+, an initiative to encourage the world's largest emitters of greenhouse gases to take action to mitigate the effects of climate change.
"The Glencore announcement is a milestone for the mining sector, with potentially far-reaching implications," said Emma Herd, CEO of the Climate Change Investor Group and member of the Climate Action Steering Committee. .