The next great economic opportunity for WA

Perspectives

The next great economic opportunity for WA

Transitioning to low-carbon mining

Climate change is already impacting the mining and metals sector across companies of all sizes, regions and commodities. 2020 has seen this shift with climate change not only impacting global miners but also the mid-market.

A growth opportunity awaits our industry in the transition to a low carbon economy. More attractive assets for investors, more attractive minerals to buyers, a lower cost of production that will see your bottom line grow. But no growth comes without challenges and no growth comes without commitment.

Understanding this topic now and setting your company up for future fund-raising success is critical for the mid-market.

In this report, we explore the four key drivers of decarbonisation:

  • investor pressure
  • understanding climate risk
  • investor demands
  • supply chain demands

Understanding these drivers will allow you to consider what action your organisation needs to take in the short, medium and long term. The good news is, starting the process is simple. We outline a set of solutions that will help you identify what is relevant to your organisation and how to make the best decisions about what to tackle and when.

If this is a starting point for your decarbonisation journey, we also acknowledge that this is an area full of specific and complex terminology. With that in mind, we have created a ‘Decarbonisation Jargon Buster’ that you can find at the end of the report.

The next great economic opportunity for WA: Transitioning to low-carbon mining was launched at the Diggers and Dealers mining forum, where Deloitte and Gold Industry Group hosted our 28th annual breakfast panel event. Hosted by Deloitte’s Nicki Ivory and GIG’s Richard Hayes, speakers shared their insights and experience on the challenges companies face in moving to a lower-carbon base, but also ways to embrace leading edge technologies while enhancing trust and engagement among all stakeholders.

Speakers, left to right:

  • Mary Hackett, Non-Executive Director and Chair Environmental, Social & Safety Committee, Northern Star Resources Limited
  • Dale Henderson, Chief Operating Officer, Pilbara Minerals Limited
  • Joanne McDonald, Head of Corporate Affairs and Company Secretary, IGO
  • Michael Wood, Director - Sustainability and Climate Change Services, Deloitte

Watch the full length playback of the event below.

The next great economic opportunity for WA

Download the report

    Published: October 2020

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      Climate risk and decarbonisation

      Decarbonisation makes more than good business sense. Today, understanding the climate risk of your business is central to understanding both financial risk and reward, and gaining substantial competitive advantage.

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