While Hudbay’s operations are well-positioned in the lower half of the global GHG emissions curve for copper operations, the company said in its Q4 and full year 2022 report released on February 23 that it recognises its role in mitigating climate change. Hudbay’s GHG emissions reduction plan includes pursuing a 50% reduction in absolute Scope 1 and Scope 2 emissions from existing operations by 2030 (compared to 2021); achieving net zero total emissions by 2050; and reporting on material Scope 3 emissions in the near-term. It is also assessing acquisitions and new projects against corporate emissions targets and continuing to be transparent with GHG performance data disclosure, including reporting total GHG emissions and GHG intensity.

The company adds: “Hudbay’s efforts have been focused on improving operating efficiencies to reduce the GHG emissions intensity at its mines through initiatives such as ore sorting and recovery improvement programs. The company has identified multiple opportunities to achieve further reductions in emissions, including grid decarbonisation in Peru, fleet and heating electrification and fuel switching in mobile equipment. Hudbay will continue to monitor and evaluate existing and new technologies as they become financially viable to implement at the company’s operations. The company will also consider emissions reduction opportunities in the design of its brownfield and greenfield growth projects. All initiatives will balance emissions and economic targets as part of the company’s disciplined capital allocation strategy.”