ICMM CLIMATE CHANGE STATEMENT

Our commitment to a goal of net zero by 2050 or sooner

As stewards of the minerals and metals that are critical to decarbonisation and sustainable development, we embrace our
responsibility to minimise the impact of our operations on the environment. That is why today, we collectively commit as
members of the International Council on Mining and Metals (ICMM) to a goal of net zero Scope 1 and 2 greenhouse gas
(GHG) emissions by 2050 or sooner in line with the ambitions of the Paris Agreement.

Although we may have individual decarbonisation targets which in some cases go beyond our collective commitment, this
represents a joint ambition from companies that make up one-third of the global mining and metals industry. In doing
so, we hope to encourage our suppliers and customers to join us in decarbonising our value chains while we support the
decarbonisation of the value chains of others. We will also continue to work closely with our 35 mining and commodity
association members to accelerate climate action in our wider industry.

Our collective commitment is grounded in the belief that meeting the UN Sustainable Development Goals will need all
parts of society to work together on more integrated approaches that strike the right balance between environmental,
social and economic outcomes, to promote the prosperity of people and the planet. We recognise the contribution we
can make in this regard, not only in supplying essential minerals and metals, but in building the resilience of our host
communities and countries.

Acting together, we are seeking to accelerate the deployment of zero emission mining vehicles in our operations and the
wider industry through the Innovation for Cleaner Safer Vehicles (ICSV) initiative. And through our Skills for our Common
Future initiative, we are helping to support people in our host communities to equip themselves with the means to thrive in
a net zero economy.

We will enhance these and other collective efforts so that even as the demand for our products rises to enable
decarbonisation technologies, our GHG emissions can reach net zero by 2050. The rate and nature of the ultimate decline
in emissions will vary across the different commodities and geographies represented by our diverse membership. Yet, our
approach to individually setting and meeting targets will be consistent and include the following, no later than the end of
2023 where these do not already exist:

• Setting Scope 1 and 2 targets: We will build clear pathways to achieving net zero Scope 1 and 2 GHG emissions by 2050
or sooner, through meaningful short and/or medium-term targets.
• Accelerating action on Scope 3 GHG emissions: We recognise that Scope 3 is critical to minimising our overall impact
and we will set Scope 3 targets, if not by the end of 2023, as soon as possible. Although all Scope 3 action depends on the
combined efforts of producers, suppliers and customers, some commodities face greater technological and collaborative
barriers than others. We will play a leading role in overcoming these barriers and advancing partnerships that enable
credible target setting and emission reductions across value chains.
• Covering all material sources: Our targets will cover all material sources of emissions, aligning to the GHG Protocol
definition of organisational boundaries and materiality.
• Focussing on absolute reductions: For some operations, intensity rather than absolute targets may be more appropriate
in the short and medium term. Where intensity targets are used, we will disclose the corresponding absolute increase or
decrease in GHG emissions.
• Applying robust methodologies: We will use target-setting methodologies that are aligned with the ambitions of the Paris
Agreement and disclose in detail the assumptions we use.
• Disclosing openly and transparently: We will report our progress on Scopes 1, 2 and 3 annually, obtain external
verification over our performance, and report in alignment with the recommendations of the Task Force on Climate-related
Financial Disclosures.

October 2021 For more information visit www.icmm.com

 ICMM CLIMATE CHANGE STATEMENT: Our commitment to net zero by 2050 or sooner

These are additional to and will be incorporated into an update of ICMM’s existing Climate Change Position Statement
which includes several commitments on performance and disclosure. And in turn, action on climate change is an integral
part of our overall Mining Principles, representing our comprehensive commitment to responsible mining, which we
will continue to update regularly. We will continue to strengthen the governance and integration of our climate change
response with our actions in other areas, particularly water, biodiversity, and socio-economic development.

Ultimately, we come together as ICMM because we believe in the power of collective action to solve sustainability
challenges and to enable the responsible production, processing and use of essential commodities. As the IPCC’s Sixth
Assessment Report on the physical science makes clear, there is no greater contemporary challenge than climate change,
and there has never been a more important time for collective action.

Hilde Merete Aasheim Richard Adkerson Iván Arriagada Eduardo Bartolomeo

President & CEO, Chair, ICMM and CEO, CEO,
Hydro Chair & CEO, Freeport-McMoRan Antofagasta Minerals Vale

Juan Benavides Feliú Sandeep Biswas Mark Bristow Alberto Calderon

Chair, Managing Director & CEO, President & CEO, Executive Director & CEO,
Codelco Newcrest Mining Barrick AngloGold Ashanti

Mark Cutifani Rohitesh Dhawan Neal Froneman Geoffrey Gao

CEO, President & CEO, CEO, Executive Director & CEO,
Anglo American ICMM Sibanye-Stillwater MMG

Pavel Grachev Chris Griffith Roy C Harvey Mike Henry

CEO, CEO, President & CEO, CEO,
Polyus Gold Fields Alcoa BHP

Kazuhiro Hori Graham Kerr Philippe Knoche Juan Luis Kruger

Director & Deputy Chief Executive Managing Director & CEO, CEO, CEO,
Officer, JX Nippon South32 Orano Minsur

Patrice Motsepe
Don R Lindsay Patrice Motsepe Gary Nagle Yoshiaki Nakazato
President & CEO, Executive Chairman, CEO, Chair & Representative Director,
Teck African Rainbow Minerals Glencore Sumitomo Metal Mining

Takashi Onda Tom Palmer Tetsuro Sakai Mikael Staffas

Executive President, President & CEO, Managing Executive Officer, President & CEO,
Minera San Cristóbal Newmont Mitsubishi Materials Boliden

Jakob Stausholm
CEO,
Rio Tinto

October 2021 For more information visit www.icmm.com