B2Gold says it has set a target to reduce its Scope 1 and 2 greenhouse gas (“GHG”) emissions by 30% by 2030 against a 2021 baseline, the company’s president and chief executive officer, Clive Johnson has announced on the company website.
“As a company, B2Gold recognises that climate change is a critical global challenge and understands that it must act accordingly. B2Gold has been an innovative leader within the mining industry with respect to the management of sustainability issues and this commitment to GHG emissions reduction forms a key part of our Climate Strategy, incorporating climate management as a part of its business strategy and planning process,” Johnson said
B2Gold’s Climate Strategy for contributing to global climate change action objectives includes identify and understand climate risks (physical and transitional) and incorporate mitigation measures to make the company more resilient as society transitions to a low-carbon economy.
They also want to establish and report progress against science informed emissions reductions targets, including maintaining an updated GHG emissions inventory (Scope 1, 2 and 3 emissions)
The company also aims to evaluate and implement changes to their energy and fuel sources to increase the proportion of renewable energy used in their operations, while improving its disclosure on climate risk management performance, to align with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
“In order to achieve the Company’s GHG emission reduction target, B2Gold is pursuing initiatives to increase the proportion of renewable energy sources, electrify operations, and improve energy efficiency. B2Gold is proud to be an industry leader in the implementation of renewable energy solutions to actively manage our emissions. B2Gold’s Otjikoto and Fekola operations both maintain fully autonomous hybrid power plants consisting of 5.8 megawatt (MWac) and 30 MWac solar installed capacity, respectively,” he pointed out.
He expanded: “B2Gold is also pleased to announce the expansion of its Fekola solar plant, which is currently in the detailed design stage. The Fekola solar plant expansion is expected to increase solar power capacity by 22 MWac, reduce GHG emissions by approximately 24,000 tonnes per year and reduce heavy fuel oil consumption by an average 7.6 million liters per year. Construction of the Fekola solar plant expansion project is expected to begin in the third quarter of 2023 and is estimated to be complete in the third quarter of 2024”.
Since 2016, B2Gold has reported annually on climate risk management in its responsible mining report and in 2021 the company released its inaugural climate strategy report.
Greenhouse gas emissions are divided into three categories for businesses and organisations – Scope 1, Scope 2 and Scope 3.Dividing emissions into three groups is intended to help measure progress in making the huge reductions that are needed to limit global temperature rises to well below 2°C – the central aim of the Paris Agreement.
Companies will need to cut emissions across all three scopes to meet internationally agreed targets on global warming.Scope 3 emissions are usually the hardest to measure and tackle, as they cover those produced by customers using the company’s products
As per the Paris Agreement, Scope 1 emissions are “direct” emissions – those that a company causes by operating the things that it owns or controls. These can be a result of running machinery to make products, driving vehicles, or just heating buildings and powering computers.
While Scope 2 emissions are “indirect” emissions created by the production of the energy that an organisation buys. Installing solar panels or sourcing renewable energy rather than using electricity generated using fossil fuels would cut a company’s Scope 2 emissions.
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Namibia, Mali and the Philippines and numerous exploration and development projects in various countries including Mali, Colombia, Finland and Uzbekistan. B2Gold forecasts total consolidated gold production of between 1 000 000 and 1 080 000 ounces in 2023.