QMines Ltd (ASX:QML) has unveiled its updated environmental, social and governance (ESG) roadmap as it commits to reach net-zero emissions by 2030.
As part of the roadmap, the ASX-lister, which is looking to become Australia’s first zero-carbon copper and gold developer, has executed an agreement with a renewable fuel supplier in a bid to initially reduce its Scope 1 diesel emissions by 20%.
The company has also bolstered its solar system and wastewater management capacity in a bid to keep its flagship Mt Chalmers project 'off the grid'.
Looking ahead, QMines is gearing up to secure its Climate Active certification early in 2022 as it embarks on a proactive mission to curb its emissions before the new decade.
The ESG roadmap.
“Number of carbon abatement strategies”
Commenting on the updated roadmap, QMines executive chairman Andrew Sparke said: “Since listing in May 2021, QMines has been diligently working on a number of carbon abatement strategies.
“Our initial investigations show that diesel usage for exploration drilling and associated activities is expected to be our largest source of carbon emissions.
“The renewable fuel agreement demonstrates QMines’ commitment to decrease Scope 1 diesel emissions by an initial 20%, with further reductions expected over time.”
ESG initiatives
As copper becomes increasingly vital to the global energy transition, QMines believes it’s also important the material is explored and developed in an environmentally-conscious fashion.
The company’s early climate initiatives include:
Renewable fuel supply: decreasing Scope 1 diesel emission by an initial 20%
Under a recent agreement with an Australian supplier, QMines has secured a long-term renewable fuel source to support exploration and development at Mt Chalmers.
What’s more, this initiative is expected to decrease Scope 1 diesel emissions by an initial 20%.
Renewable energy generation
During the quarter, the company upgraded its onsite solar and battery backup system, adding a further 6.6 kilowatts of renewable energy generation to its capacity.
This will allow the operations at Mt Chalmers to remain "off the grid".
Greater board independence: 66%
The QML board has increased its independence by appointing Peter Caristo as an additional Independent Non-Executive Director.
Preparing climate active certification
QMines is currently preparing its Australian Government-backed Climate Active Certification.
This certification will be accompanied by a public disclosure statement, expected in quarter one of 2022, that sets out its emissions sources and carbon abatement strategies.
Local procurement and engagement
Finally, QML maintains it is committed to local procurement, local employment and local engagement.
QMines also recognises how these factors are tied to growing its business and reducing the company’s carbon footprint.
Among other initiatives, QMines has recently sponsored the Junior Nerimbera Magpie’s Football Club located near the company’s Mt Chalmers project.