Kodiak Copper Corp. (TSX-V:KDK) told investors it became carbon neutral in 2022 after purchasing carbon offsets from the Great Bear Forest Carbon Project, an initiative which generates emission reductions by protecting forest areas in British Columbia previously designated, sanctioned or approved for commercial logging.
In a statement, the exploration company said it has also committed to cutting its carbon emissions by 20% per metre drilled by 2030 as it implements a carbon reduction strategy.
"Kodiak's business is the responsible and sustainable exploration of copper, a material absolutely essential for the energy transition and a low carbon future,” commented the company’s president and CEO Claudia Tornquist.
“Achieving carbon neutrality is part of our company's ESG strategy to generate value and reduce risks through environmental, social and governance best practices."
The company noted that its first annual greenhouse gas emission assessment in 2022 was conducted independently by Synergy Enterprises.
Its Greenhouse Gas Inventory Report revealed that it generated 449 tonnes of carbon equivalent greenhouse gas emissions, primarily from the 26,103-metre drill program at its MPD copper-gold porphyry project in southern British Columbia.
“I am delighted we were able to purchase carbon offsets from the Great Bear Forest Carbon Project, an indigenous-led initiative that improves the management of sensitive ecosystems in British Columbia where Kodiak's MPD copper-gold project is located,” Tornquist added.
“Our 2023 exploration program at MPD is progressing well and we will provide an update and the next batch of drill results soon.”
Contact the author at stephen.gunnion@proactiveinvestors.com