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Teck Announces Extended Net Zero Climate Strategy, Canadian Business Journal

VANCOUVER, British Columbia, February 25, 2022 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announces expansion of its climate change strategy. Did. The new short-term goal of net-zero Scope 2 (purchased power) greenhouse gas (GHG) emissions by 2025 and the ambition to net-zero Scope 3 (value chain) emissions by 2050 It is based on the existing commitment to achieve the net. -Zero emissions for the entire business by 2050.

“Teck is committed to reducing emissions throughout our business and product value chain. This expanded climate strategy reduces GHG footprints and takes global action on climate change. It is based on the progress we have made so far to help, “said Don Lindsay, President and CEO. “We work closely with our customers and suppliers to help our customers reduce their own emissions, achieve Net Zero’s Scope 3 ambitions, and at the same time provide the metals and minerals that are essential to the transition to a global low-carbon economy. We will continue to provide. “

“Teck is already one of the world’s lowest carbon producers of copper, zinc and steel coal, working to further reduce carbon dioxide emissions in its activities to support a cleaner future. “I’m out,” Lindsay added.

Most of Teck’s operations, including all steelmaking coal businesses, have been subject to carbon pricing since 2008, and Teck has strongly supported a wide range of carbon pricing.

Under the expanded strategy, Teck will set additional climate targets and take further action to reduce emissions across all activities, including operational and downstream value chains.

Operation (Scope 1 and 2) Emission target, This includes GHG emissions from energy sources owned and operated by Teck and emissions associated with the generation of purchased electricity used by Teck.

  • Achieve net zero GHG emissions for the entire business by 2050
  • New arrival: Zero greenhouse gas emissions from Scope 2 by 2025
  • Accelerate the adoption of zero-emission alternatives for transportation by replacing the equivalent of 1,000 internal combustion engine (ICE) vehicles in our mobile device fleet by 2025.
  • Reduce carbon strength of our business by 33% by 2030

Value chain (scope 3) emission targetThis includes GHG emissions from emissions sources owned or controlled by other entities downstream of our value chain, including the transportation and use of our products, 90% of which is our steelmaking coal. It is related to the use of steelmaking coal by customers.

Teck has no direct control over the steelmaking process and associated scope 3GHG emissions. Therefore, by supporting the customer’s commitment to Net Zero Scope 1 and 2, and thus the application of technologies such as carbon capture, utilization, and storage (CCUS) necessary to achieve Net Zero, alliance and acceleration of decarbonization routes. Work on. Scope 3 ambition. Over 50% of steelmaking coal sales are for customers who have promised to reach net zero by 2050, and this trend is expected to increase over time.

  • New arrival: Ambition to reduce Scope 3 greenhouse gas emissions to zero by 2050
  • New arrival: We support partners driving GHG reduction solutions that can reduce steelmaking’s global carbon strength by 30% by 2030.
  • New arrival: We work with our customers and transportation providers to establish low-emission supply chain corridors for the transportation of our products and support a 40% reduction in transportation emission intensity by 2030 for contracted transportation.

Specific efforts to reduce Scope 3 associated with transportation have already begun. In November 2021, we announced a partnership with the Oldendorff Carriers, adopting energy-efficient bulk carriers to transport coal for steelmaking, contributing to Scope 3’s goals. The partnership is estimated to reduce up to 45,000 tonnes of CO2 annually. This is equivalent to removing nearly 10,000 passenger cars from the road.

Climate change measures and progress
Teck has more than 10 years of experience in setting and achieving greenhouse gas (GHG) reduction targets and is committed to reducing operational GHGs in line with limiting global warming to 1.5 ° C. is. To support the Board and senior management to achieve Scope 1, 2, and 3, Teck has formed a dedicated decarbonization team to jointly report to the President and CEO and Chief Operating Officer. Did. It will be zero by 2050.

For more information on Teck’s approach to climate change, visit the Climate Change section of teck.com.

Description of future prospects
This news release contains specific forward-looking information and forward-looking statements (collectively referred to as forward-looking statements) as defined by applicable securities law. These statements relate to future events or future performance. All statements other than historical fact statements are forward-looking statements. The use of expressions such as “will,” “estimate,” “expectation,” and “ambition” is intended to identify forward-looking statements. These statements include known and unknown risks, uncertainties, and other factors that may cause actual results and events to differ materially from those expected in such forward-looking statements. increase. These statements are only made as of the date of this news release.

These forward-looking statements include reducing greenhouse gas emissions, achieving net zero greenhouse gas emissions, or reducing the carbon intra of a business, and the actions planned to be taken to achieve them. Contains, but is not limited to, descriptions of our commitment to. The expected impact or effect of commitments and their actions.

The forward-looking statements in this report are based on many estimates, forecasts, beliefs, and assumptions that management believes are reasonable as of the date of this report, but are inherently uncertain. Yes, including but not limited to forecasts. And the following assumptions: Technology development, performance, and cost required to advance our goals. Our ability to attract and retain skilled employees. Timing of receipt of permits and other regulations and government approvals. Generally environmental compliance costs. And assumptions about the overall development of our business and the general economic situation. Note that the list of key factors and assumptions mentioned above is not exhaustive. Due to other events and circumstances, our actual results may differ materially from those estimated, predicted, expressed or suggested in our forward-looking statements.

Forward-looking statements contain risks and uncertainties that go beyond our ability to predict or control. These forward-looking statements and details regarding the risks, assumptions and uncertainties associated with our business are submitted under the SEDAR (www.sedar.com) and EDGAR (www.sec.gov) profiles. You can find it on the latest annual information form. ) Subsequent filings under the cover of Form 40-F, and also under our profile. We undertake no obligation to update any forward-looking statement, except as required by securities law.

About Teck
As one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development by investing in major business units focused on copper, zinc and coal for steelmaking, as well as energy assets. .. The transition to a low-carbon world requires copper, zinc and high-quality steelmaking coal. Headquartered in Vancouver, Canada, Teck’s stock is listed on the Toronto Stock Exchange under the TECK.A and TECK.B symbols and on the New York Stock Exchange under the TECK symbol. For more information on Teck, please visit or follow www.teck.com. @TeckResources..

Investor Contact:
Fraser Phillips
Senior Vice President for Investor Relations and Strategic Analysis
604.699.4621
fraser.phillips@teck.com

Teck Media Contact:
Chris Stanel
Public Relations Manager
604.699.4368
chris.stannell@teck.com


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Teck Announces Extended Net Zero Climate Strategy, Canadian Business Journal

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