Cement Energy Environment

18 It is evident that setting and meeting environmental, social and governance targets will become the “new normal” for mining companies. The mining industry has only just begun to set emission-reduction goals. Current targets published by mining companies range from 0 to 30 percent by 2030, far below the Paris Agreement goals. Many of the largest mining companies will need to rebalance their portfolios as the world shifts to an economy with reduced emissions. Worldwide efforts of mining have been recognized, as • Mr Tania Constable, CEO of Minerals Council of Australia emphasized that A net-zero emissions future is only possible with the minerals and other raw materials provided by mining. He asked for emissions-reducing projects by mining companies, such as Rio Tinto’s 34-MW solar farm in the Pilbara region and Glencore’s carbon capture and storage demonstration project in the Surat Basin. • The National Mining Association, USA calls for policies that would support both coal demand and lower emissions through greater deployment of carbon capture, utilization and storage technology. Efforts of mining shall include setting emission reduction targets in line with climate science; tracking progress rigorously, consistently, and publicly; evaluating long-term climate risks and opportunities; and actively seeking out or developing technologies and strategies to reduce carbon emissions. • Adair Turner, chair of the Energy Transitions Commission, supports an absolutist view: “We should have a target in 2050 which is zero in the U.K., and not zero because we are buying offsets from the rest of the world. Real zero.” Of the limited number of countries that already have adopted a net-zero target, this approach would only mirror Costa Rica’s. • The Minerals Research Institute of Western Australia (MRIWA) aims to reduce the carbon footprint, lower overall energy costs and improve energy efficiency of the Western Australian mining sector through harnessing collective efforts, enabling decarburization to become an opportunity for the sector, not a cost. Western Australia supplies the minerals used for wind and solar energy generation; electric vehicles; and battery storage which will enable the international community to achieve the Paris 2015 goals of net-zero emissions by 2050. At the same time the Western Australian mining sector will make efforts toward eliminating their own operational greenhouse gas emissions by 2050. • Recently in a published report on 11th January, 2021, the International Energy Agency (IEA) announced that, at the request of the UK COP Presidency, it would be producing a comprehensive roadmap for the energy sector to reach net zero by 2050. In his speech to the Climate Ambition Summit in December’2020, Mr Alok Sharma (President COP26) included enhanced international collaboration as one of his main goals for COP26. By setting out a clear pathway, the IEA roadmap will support this agenda. The next step is to ensure we have the right structures to turn this into action. As the IEA Executive Director Dr. Fatih Birol said: “That means better, less fragmented mechanisms to coordinate support for emerging and developing economies – to ensure they have rapid access to the know-how, the financing and the technologie, and it means stronger international cooperation that can drive unprecedented innovation and deployment of new technologies.’’ On a broader perspective, India produces 95 minerals, i.e., 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals and 55 minor minerals (including building and other minerals). India holds a fair advantage in production and conversion costs in steel and alumina. Its strategic location enables export opportunities. Rise in infrastructure development and automotive Net Zero Mining – Indian Scenario production are driving growth. Power and cement industries are also aiding growth for the sector. Demand for iron and steel is set to continue given the strong growth expectations for the residential and commercial building industry. On the mineral production front, India is the third largest producer of coal i.e. around 729.10 million tons (MT) coal produced in FY20. Similarly, India Member companies have started strategically and operationally to address the Net Zero Targets. Major thrust areas are • Reducing water usage • Swapping diesel trucks for electric vehicles • Mining with limited environmental impact • Lowering exposure to fossil fuels • Localizing supply chains • Increasing technological innovation • Recycling more materials