Diversified natural resource company Glencore has become a member of the Global Battery Alliance (GBA), an initiative of the World Economic Forum.
The GBA and its members aim to establish, and collaborate on, a sustainable global battery value chain by 2030.
The GBA’s mission aligns with Glencore’s overall objective to responsibly source the commodities that advance everyday life, the company said in a statement issued on Friday.
“As a responsible producer and marketer of commodities essential to the energy and mobility transition – such as cobalt, nickel and copper – we intend to play an active role in the alliance, and to join forces with many of our business partners to help establish and promote a circular and responsible battery value chain.”
The company also averred that being part of the GBA would further enable it to fulfil its commitment to the transition to a low-carbon economy.
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In February, Mining Weekly reported that Glencore would be depleting its coal reserves in line with the global move towards a low-carbon economy.
Glencore CEO Ivan Glasenberg said new longer-term scope 1 and 2 emission targets that supported the Paris Climate Agreement goals would be released this year.
This follows the company achieving a 10% reduction in scope 1 and 2 emissions in the last four years, doubling its targeted percentage.
The company is projecting a 30% reduction in the far more elaborate scope 3 emissions by 2035.
By 2035, Glencore aims to reduce coal production by 30%, but without selling its coal assets.
It strategy is to deplete its coal reserve as it moves into the low-carbon economy through the supply of copper, cobalt and nickel.
Glasenberg emphasised the major role that his company is playing in the world’s transition to green energy and clean mobility through the supply of cobalt that is essential for the battery electric vehicle (BEV) and mobile phone markets.
Glencore produces 32 000 t of cobalt for a market of about 110 000 t a year and because its cobalt operations in the Democratic Republic of Congo will be independently audited each year, it has been able to conclude long-term supply contracts with global battery manufacturers for non-artisanal cobalt.
These contracts are securing offtake of cobalt over the long term for the production of batteries for BEVs.