Canada’s mining industry commits to climate change action

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The Mining Association of Canada (MAC) is releasing a new Towards Sustainable Mining® (TSM) Climate Change Protocol designed to minimize the mining sector’s carbon footprint, while enhancing climate change disclosure and strengthening the sector’s ability to adapt to climate change.

“We are committed to being a constructive partner in the fight against climate change. TSM has a proven track record of driving positive change in Canada’s mining industry and this new protocol ensures that we will continue to adopt leading practices related to climate change mitigation and adaptation,” said Pierre Gratton, MAC’s President and CEO. “Our mined materials are required inputs for green technology, like electric vehicle batteries, wind turbines and solar panels, and it is critical that these minerals and metals be responsibly sourced with the smallest GHG footprint possible. As an energy intensive industry, we know we have an important role to play in lessening our carbon footprint, and this new TSM protocol is intended to help our members do just that.”

TSM was the first mining sustainability standard in the world to require site-level assessments and is mandatory for all MAC member companies’ Canadian operations. First launched in 2004, TSM is a globally recognized sustainability program that supports mining companies in managing key environmental and social risks. Through TSM, eight critical aspects of social and environmental performance are evaluated, independently validated, and publicly reported against 30 distinct performance indicators. Canada’s mining sector operates some of the lowest carbon-intensive mines in the world thanks to Canada’s abundance of clean energy, the adoption of world-class sustainability standards like TSM and company adoption of low emission technologies at their sites.

“Not only does the industry have an important role to play in reducing its emissions and adapting to the impacts of climate change, but Canada’s mining sector is also uniquely positioned to support the global energy transition that will be required to meet the targets of the Paris Agreement,” continued Gratton. “The new TSM Climate Change Protocol truly raises the bar for industry performance related to climate change, ensuring robust corporate governance and strategies related to climate action as well as comprehensive management systems at mine sites to ensure that companies can meet their climate-related targets.”

“Climate change is an issue that matters to all of us. Minimizing our industry’s environmental footprint also makes good business sense as investors are looking for companies to disclose how they are managing climate-related risks and considering these risks in their business strategies,” said Gratton. “This new protocol requires companies to make commitments, set targets and take action consistent with the ambitions of the Paris Agreement and, at higher levels of performance, make commitments corresponding with the societal ambition to achieve net-zero emissions by 2050.”

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  1. As the world tries to restore normalcy and largescale vaccine inoculation campaigns are being rolled out against COVID-19, market experts believe that Canada’s energy sector will witness a boost in 2021. Despite the current decline in overall global supply, it is being projected that the demand is going to exceed supply at some point this year.Due to the lockdown situation and low demand, the oil and gas sector was hit hard by the pandemic, leading to a significant drop in investments. However, the Canadian Association of Petroleum Producers (CAPP) says that this trend will end this year and stability will be restored.

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