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).
By year-end 2024, Kenmare exceeded its target of reducing carbon emissions (Scope 1 & 2) by 12%, compared to a 2021 baseline. Kenmare continues to 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 established its first Climate Transition Plan in 2024, which sets a medium-term (2030) target of a 30% reduction in emissions (Scope 1 & 2) relative to its 2021 baseline, in alignment with requirements from the Corporate Sustainability Reporting Directive (CSRD). Kenmare published its first Climate Strategy Report in 2021 and will publish an updated report every three years.
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 (HME), transshipment vessels, light vehicles and other equipment.
In 2024, emissions from diesel consumption increased by 2% in 2024 compared to 2023. This increase was driven by a 7% increase in excavated ore. This led to a 17% increase in diesel consumed by HME, in addition to a 1% increase in diesel used in the MSP and a 3% increase in diesel consumption by the transshipment vessels due to increased shipments. Consequently, carbon intensity, at 0.053 tCO2e per tonne of mined product (2022: 0.052 tCO2e), increased by 2% year-on-year.
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 2024, Kenmare’s emissions were as follows:
| Scope | Category | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Scope 1 (tonnes CO2e) | 65,807 | 57,427 | 59,046 | |
| Scope 2 (tonnes CO2e) | Purchased electricity, Market-based | – | – | 11 |
| Scope 2 (tonnes CO2e) | Purchased electricity, Location-based | 18,628 | 18,896 | 21,260 |
| Scope 3 (tonnes CO2e) | Category 1: Purchased goods and services | 10,855 | 12,833 | 8,737 |
| Category 2: Capital goods | 1,865 | 655 | 6,091 | |
| Category 3: Fuel- and energy-related emissions | 14,432 | 12,479 | 19,517 | |
| Category 4: Upstream transportation emissions | 34,296 | 34,510 | 33,111 | |
| Category 5: Waste generated in operations | 18 | 19 | 25 | |
| Category 6: Business travel | 1,015 | 1,317 | 1,794 | |
| Category 7: Employee commuting | 921 | 2,278 | 1,804 | |
| Category 9: Downstream transportation emissions | 66,772 | 47,346 | 61,035 | |
| Category 10: Processing of Sold Goods | – | 3,934,587 | 4,024,868 | |
| Total Scope 3 (tonnes CO2e) | 130,173 | 4,046,024 | 4,156,982 | |
| Total Scopes 1, 2 and 3 | Scope 2 – Market-based | 195,980 | 4,103,451 | 4,216,041 |
| Scope 2 – Location-based | 214,611 | 4,122,347 | 4,237,288 | |
| Emissions intensity | ||||
| Revenue (Scope 1 tCO2e per 1,000 USD) | 0.1321 | 0.1246 | 0.1424 | |
| Production (Scope 1 tCO2e per tonne of ore excavated) | 0.00164 | 0.00149 | 0.00143 | |
| Production (Scope 1 tCO2e per tonne of finished product | 0.0548 | 0.0526 | 0.0531 |