Sustainability
Climate change
A single standard for how the climate-related effects of our activities are identified, managed and disclosed.
What this covers
Climate is treated in two directions: as an effect of our activities, through the greenhouse gases they emit and the energy they consume, and as a risk to those activities, through the physical and transition exposures that climate change creates. The Climate Action Transition Plan governs both. It applies to Xstreco AG, to the subsidiaries through which we hold our mineral assets and conduct our processing and recycling activities, and to any entity that comes under our control, from the date on which control is acquired.
The plan describes the governance, methodology, boundaries and processes by which climate-related risks and opportunities are managed and by which climate-related targets are set, reviewed and disclosed. Where it refers to a target, it describes the methodology and governance by which a target is established and reviewed, and not the target itself.
Key facts
Scope
The plan applies to any entity from the date we acquire control of it.
Board approval
The board approves the baseline, the methodology and any target derived from it.
Current status
No target has been set or submitted for validation, and no emissions figure is published.
TCFD
Our climate information is structured against IFRS S2.
Governance
The Board of Directors holds ultimate responsibility for our climate strategy, risk management and transition planning. Under the plan, the Board approves the Climate Action Transition Plan on the cycle stated in it, considers climate-related risk in strategic decisions including capital allocation and permitting, approves any emissions baseline, the target-setting methodology and any target derived from it, and reviews our position by reference to the Paris Agreement.
Operational responsibility for climate matters rests with executive management, on the basis set out in the Climate Action Transition Plan. The plan is implemented through emissions accounting and reporting, supplier engagement and the value chain emissions approach, and the integration of climate risk into enterprise risk management.
Emissions accounting
The greenhouse gas inventory is prepared under the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard. We record the organisational boundary, the consolidation approach and the emission factors applied, so that the basis of the inventory is capable of being examined rather than merely asserted. We establish a Scope 1 and Scope 2 baseline before we set any reduction target. Value chain emissions are addressed under the Greenhouse Gas Protocol Corporate Value Chain (Scope 3) Standard.
We publish no emissions figure on this site. The methodology, the boundary and the governance are published, because those are what determine whether a figure, when it exists, means anything.
Disclosure
We treat climate reporting as an accountability mechanism and maintain the underlying records accordingly. The plan is structured so that the information required by the applicable disclosure frameworks, including IFRS S2, can be produced from our records in both human-readable and machine-readable form, and controls over sustainability information are designed so that an assurance engagement can be performed on them.
In this section
