The 2024-2026 CATP aims to evolve Glencore’s approach first published in 2020, introduce a new interim industrial emissions reduction target and lay out plans for the next three years.

The CATP retains Glencore’s existing emissions reduction targets, of 15% and 50% by the end of 2026 and 2035 respectively and its 2050 ambition of achieving net zero industrial CO2e emissions, subject to a supportive policy environment.

It also introduces a new interim target of a 25% reduction in CO2e emissions for Glencore’s industrial assets by the end of 2030. CEO Gary Nagle noted that the company is on track to meet its 2026, 2030 and 2035 emissions reduction targets, all of which are measured against a restated 2019 baseline.

The press release noted that Glencore has maintained its previous industrial emissions reduction targets and ambition. The transition plan reaffirms its existing targets against a restated 2019 baseline and adds a new interim target, leading towards a 2050 net zero emissions ambition, subject to a supportive policy environment:

2026: 15% reduction in our Scope 1, 2 and 3 industrial CO2e emissions against a restated 2019 baseline by the end of 2026

2030: 25% reduction in our Scope 1, 2 and 3 industrial CO2e emissions against a restated 2019 baseline by the end of 2030

2035: 50% reduction in our Scope 1, 2 and 3 industrial CO2e emissions against a restated 2019 baseline by the end of 2035.