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Sibanye-Stillwater aims for 2040 carbon neutrality

South Africa-based Sibanye-Stillwater has joined other mining majors aiming for net zero carbon emissions but wants to achieve its goal 10 years sooner than the typical 2050 ambition.
Sibanye-Stillwater aims for 2040 carbon neutrality Sibanye-Stillwater aims for 2040 carbon neutrality Sibanye-Stillwater aims for 2040 carbon neutrality Sibanye-Stillwater aims for 2040 carbon neutrality Sibanye-Stillwater aims for 2040 carbon neutrality

Sibanye-Stillwater has outlined updated ESG policies and position statements

Ngaire McDiarmid

Reporter

The PGM producer aimed to "drive and achieve a carbon neutral position by 2040" it said in its climate change position statement, among a suite of updated environmental, social and governance (ESG) policies released on Friday.

A growing number of miners are aiming for net zero by 2050, including lithium major Albemarle, Chile-focused copper producer Antofagasta and gold miners Newmont, Barrick Gold and Kinross Gold. 

"Sibanye-Stillwater considers climate change to be the most pressing global environmental challenge of our time, a challenge which is inextricably linked to all other environmental challenges we face, be it water scarcity, land degradation including erosion, pollution or biodiversity loss - or countless socio-economic issues resulting from these challenges," the company said.

It would also work towards achieving a rating of 5 in the FTSE Russel ESG rating relating to air quality compliance, it said in its air quality position statement.

The company provided updates and additions on three policies and 13 position statements.

Its vision was superior value creation for all stakeholders through the responsible mining of its mineral resources, Sibanye-Stillwater said.

Its shares (JSE: SSW) closed up 2.46% on Friday to ZAR59.13, slightly above the midpoint of its one-year range, valuing it about ZAR175 billion (US$12 billion).