NextSource Materials Sustainability Profile
NextSource Materials Inc., headquartered in California, is a leading player in the critical minerals industry, specialising in the development of graphite and other essential materials for the green economy. Founded in 2011, the company has made significant strides in establishing its flagship Molo Graphite Project in Madagascar, which is poised to become a key supplier of high-quality graphite for battery production and other applications. NextSource Materials is committed to sustainable practices, ensuring that its products not only meet the growing demand for renewable energy solutions but also adhere to environmental standards. With a strong market position and a focus on innovation, the company is well-equipped to support the transition to a low-carbon future, making it a notable contender in the global materials sector.
DitchCarbon Score
How does NextSource Materials's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Business Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
NextSource Materials's score of 23 is lower than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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NextSource Materials's reported carbon emissions
In 2024, NextSource Materials reported total carbon emissions of approximately 4,065,068 kg CO2e, all of which fall under Scope 1 emissions. The company did not report any Scope 2 or Scope 3 emissions for this year. This marks a significant increase compared to 2023, where emissions were recorded at about 724 kg CO2e, also solely from Scope 1. Looking back to 2021, NextSource Materials disclosed a more comprehensive emissions profile, with Scope 1 emissions at approximately 37,134,000 kg CO2e, Scope 2 emissions at about 4,643,000 kg CO2e, and Scope 3 emissions reaching approximately 25,795,000 kg CO2e. This data indicates a substantial reduction in emissions from 2021 to 2023, particularly in Scope 1 emissions. Despite these figures, NextSource Materials has not established specific reduction targets or commitments, nor do they participate in initiatives such as the Science Based Targets initiative (SBTi). The absence of formal climate pledges suggests a need for further development in their climate strategy. Overall, while NextSource Materials has shown a notable decrease in emissions over the past few years, the lack of defined reduction targets highlights an area for potential improvement in their climate commitments.
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| 2021 | 2023 | 2024 | |
|---|---|---|---|
| Scope 1 | 37,134,000 | 000 | 0,000,000 |
| Scope 2 | 4,643,000 | - | - |
| Scope 3 | 25,795,000 | - | - |
How Carbon Intensive is NextSource Materials's Industry?
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NextSource Materials's Scope 3 Categories Breakdown
A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 38% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 44% of Scope 3 emissions.
Top Scope 3 Categories
NextSource Materials's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
NextSource Materials has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
