Pacific Metals

Pacific Metals, a company in the Nickel ores and concentrates industry headquartered in JP, has outlined significant climate commitments and emissions data.

For the reporting year 2024, Pacific Metals reported total emissions of approximately 174,100,000 kg CO2e. This figure encompasses Scope 1 emissions totalling about 99,100,000 kg CO2e, Scope 2 emissions of approximately 57,200,000 kg CO2e, and Scope 3 emissions amounting to approximately 77,000,000 kg CO2e. In 2023, the company reported total emissions of approximately 321,000,000 kg CO2e, with Scope 1 emissions at about 220,000,000 kg CO2e, Scope 2 at approximately 492,000,000 kg CO2e, and Scope 3 at roughly 99,000,000 kg CO2e.

Pacific Metals has set ambitious targets for emissions reduction. The company aims to achieve a 46% or greater reduction in GHG emissions by 2030, compared to 2013 levels, and to reach net zero emissions by 2050. For Scope 1 and 2 emissions specifically, the goal is to reduce them by 70% by FY2030, with an interim target of a 55% reduction by FY2025. These targets include emissions from consolidated subsidiaries starting in fiscal year 2024. The company plans to implement measures such as using carbon-free energy and introducing new technologies to achieve carbon neutrality by FY2050.

The provided emissions data shows a notable decrease in total reported emissions from previous years, with Scope 1 and Scope 2 emissions also showing a downward trend from 2018 to 2024. For instance, Scope 1 and 2 emissions were approximately 2,523,000,000 kg CO2e in 2018, reducing to about 671,100,000 kg CO2e in 2024. Similarly, Scope 1 emissions reduced from about 1,410,000,000 kg CO2e in 2018 to approximately 99,100,000 kg CO2e in 2024. The company has disclosed upstream categories for its Scope 3 emissions and has indicated the intention to include consolidated subsidiaries in its Scope 1 and 2 reporting from fiscal year 2024.