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Albemarle adds net zero by 2050 goal

Lithium major Albemarle has joined other miners in the goal to achieve net zero carbon emissions by 2050.
Albemarle adds net zero by 2050 goal Albemarle adds net zero by 2050 goal Albemarle adds net zero by 2050 goal Albemarle adds net zero by 2050 goal Albemarle adds net zero by 2050 goal

Albemarle water monitoring

Staff reporter

The specialty chemicals company yesterday outlined its "meaningful and achievable" targets for greenhouse gas emissions and water use, along with its 2020 sustainability report.

"Albemarle supports the goals of the Paris Agreement and aspires to achieve net zero carbon emissions by 2050," it said. 

It committed to reducing the carbon-intensity of its catalysts and bromine businesses by 35% by 2030, and to growing its lithium business "in a carbon-intensity neutral manner" through 2030.  

It also committed to reduce the intensity of freshwater usage by 25% by 2030 in areas of high and extremely high water risk, as defined by the World Resources Institute.

Regarding its Chile lithium operations, Albemarle noted the Salar de Atacama was home to the driest desert in the world.

"Albemarle is a values-driven organisation that is committed to doing the right things the right way and sustainability is a key to our success," CEO Kent Masters said.

The company said over the next two years, it would invest in the technology and people to build the infrastructure to assess, measure and track its goals, and planned to report progress quarterly to internal stakeholders by 2022 and annually to external stakeholders.

Chile-focused copper miner Antofagasta last month committed to achieving carbon neutrality by 2050, as has Kinross Gold, Barrick Gold and Newmont.

Albemarle shares closed down 0.6% in New York to US$170.36 yesterday, about double the price of a year ago, valuing it at $19.9 billion.