Climate change

Kenmare recognises that it has a responsibility to play a role in addressing climate change, alongside Governments and investors.

Kenmare accepts the scientific findings of the Intergovernmental Panel on Climate Change (IPCC); supports the goals of the Paris Agreement; and acknowledges that business has a role to play in addressing climate change.

In line with this position, the Company has set the ambition to achieve Net Zero by 2040 (Scope 1 & 2) and it is targeting a short-term emissions reduction of 12% by the end of 2024, relative to and with the same reporting boundary as its 2021 baseline. Kenmare will also work to effectively manage climate risks; capitalise on opportunities associated with the transition to the low carbon economy; and help make its operations and host communities more resilient to the future impacts of extreme weather events.

Kenmare published its first Climate Strategy Report in 2021 and will publish an updated report every three years.

Kenmare will publish a Climate Transition Plan in 2024 in alignment with requirements from the Corporate Sustainability Reporting Directive (CSRD).

Read more about Kenmare’s approach to addressing climate change and read the Company's Climate Policy.

Greenhouse Gas (GHG) emissions

Kenmare’s direct GHG emissions come from the diesel used in the Mineral Separation Plant (MSP), and in Heavy Mobile Equipment, transshipment vessels, light vehicles and other equipment.

Kenmare’s direct emissions decreased by 14% in 2023 compared to 2022, largely reflecting the impact of a full year of Rotary Uninterruptible Power Supply (RUPS) operations. RUPS provides electrical stability to the MSP, avoiding power dips during the rainy season and negates the need to continuously run diesel generators as a backup energy supply. In addition to RUPS, ongoing efficiencies at the MSP and a 9% reduction in production (and 3.7% reduction in excavated ore) contributed to lower emissions in 2023. Diesel consumption was 13.5% lower in 2023 at 19.9 million litres (2022: 23 million litres). Carbon intensity, at 0.052 tCO2e per tonne of mined product (2022: 0.055 tCO2e), showed a 5% reduction.

Kenmare reports its GHG emissions in accordance with the GHG Protocol. Emissions are categorised under Scopes 1, 2 and 3. VerifyCO2 provided limited assurance on the GHG data in accordance with these standards, and energy related data in accordance with ISO 14064-3:2019.

In 2023, Kenmare's emissions were as:

Read more about Kenmare’s GHG emissions.