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FCX: Annual GHG Emissions (2018 – 2021, Million Tonnes CO2 Equivalent)

Industry: Mining
Current: ESG

In 2021, FCX’s total GHG emissions increased by 4% on an annual basis
The mining company, FCX’s Scope 1 emissions accounted for 50% of its total GHG emissions in 2021
FCX has set a target to reduce GHG emissions intensity by 15% per metric ton of copper cathode in the Americas by 2030

Water, food, and energy supplies are at risk due to global warming. The primary cause of global warming is greenhouse gas emissions. Carbon dioxide (CO2), methane (CH4), and nitrogen oxides (NOx) are GHGs produced by the combustion of oil, fossil fuels, and other sources.

Around 4% to 7% of greenhouse gas emissions come from the metals and mining industry. In the industrial sector, GHG emissions are generated from energy generation, heat, and steam. The International Council on Mining and Metals (ICMM) has committed to net zero Scope 1 and 2 emissions by 2050.

Freeport-McMoRan Inc (FCX) is a metals and mining company that carries out the production of gold, copper, cobalt, silver, molybdenum, oil, and natural gas. In 2021, the company reported total GHG emissions of around 9.19 million tonnes CO2 equivalents (MtCO2eq), an increase of 4% over 2020.

GHG emissions are classified into three categories: scope 1, scope 2, and scope 3. Scope 1 emissions are direct emissions from facilities owned or controlled by the company, such as fuel use, on-site electricity generation, anode and reductant use, and process emissions. Scope 2 refers to GHG emissions resulting from the generation of purchased energy, such as electricity, heat, or steam from third parties. Scope 3 emissions refer to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, including upstream and downstream activities.

Scope 1 emissions account for most of FCX’s overall GHG emissions, accounting for 50% of total GHG emissions (4.58 MtCO2eq) in 2021. In 2021, the company's Scope 1 emissions increased by 8%, and Scope 2 emissions declined by 8%.

FCX has set a target to reduce GHG emissions intensity by 15% per metric ton of copper cathode in the Americas by 2030.

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