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  • Barrick Gold (ABX) is updating its shareholders on results of its greenhouse gas emissions reduction targets in 2020
  • In its 2020 sustainability report, the company says that its strategy delivered “tangible results”
  • The company’s ESG advances in 2020 included zero Class 1 environmental incidents
  • It’s collective operations included a new record of 79 per cent water recycling and re-use
  • Barrick Gold is up 0.53 per cent on the day, with shares of the company trading at C$26.49 at 2:29 pm ET

Barrick Gold (ABX) is updating its shareholders on results of its greenhouse gas emissions reduction targets in 2020.

In its 2020 sustainability report, the company says that its strategy delivered “tangible results.”

The company’s ESG advances in 2020 also included zero Class 1 environmental incidents, a new record of 79 per cent water recycling and re-use by its operations and the introduction of fully functional community development committees at all its operating sites to guide its social investment programs.

“At the beginning of last year we set an emissions reduction target of 10 per cent by 2030 against a 2018 baseline that combined the data from the legacy Barrick and Randgold operations as well as newly acquired assets. Through the year we worked on identifying further reduction opportunities and this has enabled us to set an updated target of at least 30 per cent by 2030 with an interim reduction target of 15% based on projects already being implemented, while maintaining a steady production profile. Ultimately our aim is to achieve net zero emissions by 2050, achieved primarily through greenhouse gas reductions and offsets for some hard-to-abate emissions,” said Barrick Gold chief executive Mark Bristow.

“Sustainability has long been a strategic business priority for us. Our strategy is based on four pillars: the creation of economic benefits for all stakeholders; the protection of health and safety at our mines and in their host communities; a respect for human rights; and the minimization of our environmental impacts. For us ESG is not a corporate compliance function: it’s integral to how we manage our businesses worldwide.”

The company’s sites have also all been certified to the ISO 14001:2015 environmental management standard. Each site has also been empowered to manage its own environmental issues under the oversight of the group’s strategic leadership.

Barrick Gold is up 0.53 per cent on the day, with shares of the company trading at C$26.49 at 2:29 pm ET.

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