States all around the world are implementing more and more climate change and greenhouse gas (GHG) policies in an effort to meet the commitments made at the Paris Agreement in 2015. Both investors and international finance bodies are increasingly aware of the business risks from climate change, not only from extreme weather but perhaps more urgently, from financing high carbon intensity projects.
Hence, there is an increased drive for transparent reporting from projects in whom they invest or provide financing. One such business is the Kounrad Copper Company (KCC); one of several businesses operating at the Kounrad Copper Mine in Karaganda, Kazakhstan. KCC takes pregnant copper solution from dump leaching and extracts the copper through electrowinning.
KCC approached BGP for a proposal to formulate a greenhouse gas (GHG) inventory methodology suitable for reporting to international financiers (IFC). KCC also requested that the assessment align with the Global Reporting Initiative (GRI).
BGP developed an inventory and a methodology for KCC so that not only could the business report 2019 emissions in a format acceptable to the IFC but would enable KCC to calculate GHG emissions in-house, providing the opportunity to build monitoring into existing management systems.
The inventory was built in line with the globally recognised Greenhouse Gas Protocol and included emissions directly released onsite (Scope 1) as well as emitted at third party energy generation facilities (Scope 2). The inventory and methodology was completed on time and in full in January 2020 and included all source materials and references in line with the transparency principles critical to both GHG and other environment and social governance reporting.
EI is committed to enabling our clients to be a part of the solution to climate change and adding value to projects in a new low carbon global economy