Polymetal: Climate Change Report 2021 (1188399)
April 27 2021 - 02:00AM
UK Regulatory
Polymetal International plc (POLY)
Polymetal: Climate Change Report 2021
27-Apr-2021 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Release time IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY
Date 27 April 2021 Polymetal International plc
Climate Change Report 2021
Polymetal publishes its first Climate Change Report ("Report")
setting a strategic goal to reduce Greenhouse Gas ("GHG") emission
intensity by 30% by 2030.
"Polymetal is fully committed to combat climate change. Today we
publicly announce our ambitious 10-year target to cut our GHG
emission intensity by 30% by 2030", said Vitaly Nesis, Group CEO of
Polymetal. "This initiative is supported by detailed action plan
and becomes a part of the company-wide motivation system."
In the Climate Change Report 2021, Polymetal commits to the
following targets based on the Paris Agreement principles (to be in
line with a "2 degrees" trajectory): ? Reduce GHG emission
intensity per ounce of gold equivalent by 30% by 2030 (2019
baseline, covering Scopes 1 and 2)
including the intermediate target of 15% reduction by 2025. ?
Reduce absolute GHG emissions by 35% by 2030. ? Develop long-term
GHG reduction goals until 2050 by the end of 2022. ? Develop the
plan to achieve carbon neutrality by the end of 2022. ? Set Scope 3
targets by the end of 2022.
To achieve these goals, Polymetal has developed a comprehensive
programme that includes a wide range of projects, including: ?
Development of own solar and wind power plants at or near Polymetal
operations; ? Investment in grid connections to remote assets and
procurement of electricity supplies with the lowest available
carbon footprint; ? Electrification of mobile mining fleet; ?
Continuous improvement of energy efficiency.
The Company estimates that these projects will require nearly
USUSD 850 million CAPEX in 2021-2030 to be incurred by Polymetal
including USUSD 450 million of additional spending not included in
the previous Group's CAPEX guidance. The updated CAPEX guidance is
published in our Analyst & Investor Day presentation available
on the Company's website at
https://www.polymetalinternational.com/en/investors-and-media/reports-and-results/presentations/.
Furthermore, the Report contains information on specific carbon
footprint reduction projects at our mines, our climate scenarios,
approach to managing climate-related risks and opportunities
(including governance and strategy features).
The qualitative and quantitative data disclosed in the Report
has been prepared in accordance with the recommendations of the
Financial Services Board's Task Force on Climate-related Financial
Disclosures (TCFD) and accompanies our annual submissions under the
CDP.
The Climate Change Report 2021 is available on the Company's
website at https://www.polymetalinternational.com/en/
sustainability/environment/#climate-change-and-energy-management
Additionally, new Climate Change Policy was approved by the
Board of Directors Polymetal International plc on 15 April 2021 and
published on the Company's website. The Climate Change Policy
introduces an approach for evaluating the impact caused by the
changing climate on the Group's operations, cutting greenhouse gas
emissions, and improving energy efficiency wherever the Group
operates, taking account of good international practice and the
goals of the Paris Agreement.
The document is available at
https://www.polymetalinternational.com/en/investors-and-media/disclosure-center/
corporate-documents/#policies
About Polymetal
Polymetal International plc (together with its subsidiaries -
"Polymetal", the "Company", or the "Group") is a top-10 global gold
producer and top-5 global silver producer with assets in Russia and
Kazakhstan. The Company combines strong growth with a robust
dividend yield.
Enquiries
Media Investor Relations
Polymetal ir@polymetalinternational.com
FTI Consulting
Evgeny Monakhov +44 20 7887 1475 (UK)
Leonid Fink +44 20 3727 1000
Timofey Kulakov
Viktor Pomichal
Kirill Kuznetsov +7 812 334 3666 (Russia)
Joint Corporate Brokers
Morgan Stanley & Co. International plc +44 20 7425 8000
Andrew Foster
RBC Europe Limited
Richard Brown
Marcus Jackson +44 20 7653 4000
Panmure Gordon Jamil Miah
Daniel Norman
+44 20 7886 2500
John Prior
Forward-looking statements
This release may include statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements speak only as at the date of this release. These
forward-looking statements can be identified by the use of
forward-looking terminology, including the words "targets",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "would", "could" or "should" or similar expressions
or, in each case their negative or other variations or by
discussion of strategies, plans, objectives, goals, future events
or intentions. These forward-looking statements all include matters
that are not historical facts. By their nature, such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the company's
control that could cause the actual results, performance or
achievements of the company to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on numerous assumptions regarding the company's present and
future business strategies and the environment in which the company
will operate in the future. Forward-looking statements are not
guarantees of future performance. There are many factors that could
cause the company's actual results, performance or achievements to
differ materially from those expressed in such forward-looking
statements. The company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based.
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ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
LEI Code: 213800JKJ5HJWYS4GR61
Sequence No.: 100680
EQS News ID: 1188399
End of Announcement EQS News Service
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