Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) chief executive Sebastien de Montessus has told investors that the company has continued to make significant progress on our ESG strategy.
The gold miner, in a statement accompanying its 2022 sustainability report, noted that the ESG strategy was formulated a few years ago following extensive consultation with a range of stakeholders and is guided by the aims of the United Nations Sustainable Development Goals.
“As a responsible miner, we have continued to tackle climate change as we seek to meet our 2030 target of a 30% reduction in our carbon emissions intensity and Net Zero by 2050."
He added: “For 2022, we set our first annual carbon emissions intensity target, which I’m pleased to report we beat.
In the report, Endeavour said its total Scope 1 and 2 GHG emissions increased by 10% in 2022, compared to 2021, largely due to a rise in Scope 2 (indirect) emissions.
These resulted from the increased use of thermal power by the national utility provider in Burkina Faso, impacting the emissions of purchased electricity in Burkina Faso, specifically for the Houndé mine.
Water usage was 57% recycled with a target of 70% for 2023, added the FTSE 100-listed Canadian gold miner.
Sebastien de Montessus, meanwhile, commented: "We continued to progress a number of our decarbonisation initiatives, including connecting our Mana mine to the national grid and advancing the analysis for renewable solar projects at our Houndé and Sabodala-Massawa operations.
“Importantly, these initiatives have the dual benefit of optimising processes, thereby reducing costs, and improving our efficiencies.
“In 2022 our total economic contribution to host countries amounted to over US$1.9bn, comprised of local procurement, salaries, taxes, royalties, dividends and other contributions to governments.”
What are scope 1 and 2 emissions?
Greenhouse gas (GHG) emissions are categorised into three ‘scopes’, according to international protocol. These tiered scopes are designed for a more comprehensive reporting and understanding of emissions and environmental impact made by organisations and countries.
Scope 1 emissions are defined as direct emissions, coming from owned or controlled sources – in other words they are the emissions created as a result of a company's operations directly. As such, these are emissions that would occur at a company’s site or site under its control.
Scope 2 emissions are generally the indirect emissions that are generated in the creation of energy purchased by a company or are the result of other activities that occur at sources owned or controlled by another company. Most commonly they are emissions related to purchased power consumption.
Scope 3 emissions meanwhile are commonly termed ‘value chain emissions’ and included a broader range of impacts occurring both upstream and downstream.