Aim-listed Kenmare Resources’ Climate Policy has been approved by its board and its ambition to be net-zero by 2040 is now established.
Kenmare on April 8 published its Sustainability Report and its inaugural Climate Strategy Report for the year ended December 31, 2021.
Key sustainability highlights for the period under review include a lowest-ever lost-time injury frequency rate of 0.03 per 200 000 hours worked – an improvement of 88% compared with 2020.
Notably, over 90% of electricity requirements in the year were generated from renewable (hydroelectric) sources, on par with the previous year.
During the period, Kenmare rehabilitated 198 ha of mined land, compared with 181 ha in 2020.
At year-end, 97% of employees at the Moma titanium minerals mine were Mozambican, on par with 2020, with 83% of Moma management roles (supervisor and above) held by Mozambicans, including the GM, compared with 80% in 2020.
At year-end, female employees represented 12.5% of the mine workforce, up from 10.6% in 2020.
Kenmare also made $2.3-million of continued investment into local communities through the Kenmare Moma Development Association and $26.5-million of payments to the Mozambique government.
Kenmare was named as the most transparent company in Mozambique for the second consecutive year by the Centro de Integridade Pública Extractive Industry Transparency Index.
The 2021 Sustainability Report, aligned with the Global Reporting Initiative standards, aims to assist stakeholders to further understand Kenmare’s business by providing transparent demonstration and disclosure of Kenmare’s sustainability performance.
The company details its performance against its 2021 sustainability targets, which were detailed in the 2020 Sustainability Report, and sets new targets for 2022 to 2025.
The 2021 Sustainability Report also outlines the strategy, policies and management approach of Kenmare's longstanding and ongoing commitment to sustainability.
These efforts are underpinned by the corporate values of integrity, commitment, accountability, respect and excellence and Kenmare’s purpose of “responsibly meeting global demand for quality-of-life minerals.”
The 2021 Climate Strategy Report is aligned with the recommendations of Task Force on Climate-related Financial Disclosures (TCFD) and Kenmare’s disclosures in this regard. Kenmare notes that it supports the aims of the TCFD and believes businesses should communicate the risks and opportunities that climate change presents.
“Kenmare made important progress in 2021 in all aspects of its sustainability agenda, most notably with its excellent safety record. The updated Sustainability Strategy sets out short- and medium-term targets, which include continuing to increase the representation of women within the business, growing the economic opportunities associated with the Moma mine through increased local procurement, and building upon our progressive rehabilitation programme to better balance food security and biodiversity.
“Kenmare’s inaugural Climate Policy was also approved by the board, formalising our ambition to achieve net-zero (Scope 1 and 2) [emissions] by 2040, with a short-term emissions reduction target of 12% by 2024,” says Kenmare sustainability committee chair Elaine Dorward-King.