Anglo American aims for net-zero shipping by 2040

Anglo American has revealed it will be targeting net-zero emissions across its freight shipping by 2040, with an interim goal of reducing consumption by 30% by 2030, as key miners look to reduce emissions across their value chains.

With the COP26 summit still ongoing, a number of high-priority sectors have pledged to cut emissions and a recent report suggested complete decarbonisation of shipping may be possible provided key players work quickly to cut emissions, with the Getting to Zero Coalition launching a strategy for the next few decades.

Read more: Full decarbonisation of international shipping is doable, says Coalition

Shipping is considered a "high priority" sector for emissions reductions and significant technological innovations - such as increased investment into carbon sequestering technology or sustainable fuels - may be required before net-zero is achievable.

In addition, shortly before it made the pledge towards sustainable shipping, Anglo American also revealed it would be looking to halve Scope 3 emissions by 2040 in line with other industry leaders, with a number of top miners having made a landmark pledge to become net-zero by 2050.

Specific details into how the miner will tackle shipping emissions reduction have yet to be revealed. However, it states technological advancement will be the core of its strategy through vessel retrofits, increased automation, and investment in sustainable fuels.

In 2020, the miner introduced liquified natural gas (LNG)-fuelled vessels to its fleet, which it claims should see significantly reduced emissions of around 35%, although the company will have to push away from traditional fossil fuels if it hopes to completely remove emissions. The miner tested sustainable biofuel made from waste cooking oil back in June.

It also introduced technology to eliminate the release of unburnt methane, often referred to as a "methane slip".

"Our ambition for carbon-neutral controlled ocean freight is a natural extension of our commitment to being carbon neutral across our mining operations by 2040", Peter Whitcutt, CEO of Anglo American's Marketing business said in a statement.

"We are committed to playing an active role in accelerating the transition to a more sustainable shipping sector, a crucial component in our efforts to extend our positive impact beyond our mine sites. This ambition further cements that commitment and will help us shape a clearer path towards decarbonisation", he added.

The miner was one of 200 signatories to the Global Maritime Forum's call to the COP26 summit to decarbonise international shipping by 2050, just weeks ahead of the International Chamber of Shipping (ICS) revealing its plans for the decarbonisation of the sector.

The miner has also made other forays into sustainability, such as being part of an international consortium looking into green ammonia viability, or its plans for a hydrogen valley in a platinum-rich region of South Africa.

Back in April, it also revealed it would be demerging its coal operations in a bid to step up decarbonisation efforts.

However, the mining sector has come under scrutiny for its role in greenhouse gas emissions.

A report published in October accused the international mining sector of "effectively greenwashing", going so far as to claim that green mining was "a myth".

Read more: "Green mining is a myth": EU must be tougher on mining, report suggests

The report has called on powers like to EU to be tougher on mining giants and set strict targets to allow for the sector to radically reduce emissions while allowing for leeway for runaway mining.

Resource extraction in the bloc is already reaching dangerous levels, which have other knock-on environmental effects outside of just emissions.

The global mining sector currently accounts for between 4% to 7% of carbon emissions and is one of the highest sole emitters in the world.

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