Newmont the only miner to make TIME’s top 100 green firms ranking
Newmont, (NYSE: NEM, TSX: NGT, ASX: NEM) the world’s top gold miner, is the only miner to make the world’s top 100 most sustainable companies for 2024, according to a new ranking published on Tuesday by TIME and Statista.
The gold miner is ranked 84th on the list that is topped by French multinational Schneider Electric.
According to TIME, the companies at the top of the list have signed on to some of the most respected climate programs, including the 1.5°C target from the Science Based Targets initiative (SBTi), and have received high scores from CDP (formerly the Carbon Disclosure Project).
TIME and Statista held companies to high standards for their Scope 1 and 2 emissions and energy consumption relative to company size, emissions reductions in 2021 and 2022, and the proportion of renewable energy used by the company’s operations.
At the top of the list, Schneider Electric scored 88.86 out of 100. Its environmental initiatives include creating software and services for energy management. Schneider has also set ambitious targets to become carbon neutral by 2025.
It is important to note that many highly ranked companies are in industries that don’t produce many physical products — such as banking, tech and consulting.
Newmont, meanwhile, scored 71.64 to lead all companies in the mining industry.
Among Newmont’s environmental targets for 2030, the company aims to reduce absolute greenhouse gas emissions (Scope 1 and 2) by 32%, reduce GHG emissions intensity (Scope 1 and 2) by 32%, and reduce absolute Scope 3 emissions (joint venture assets and supply chain) by 30%.
Besides Newmont, the ranking includes five other natural resources and mining companies among the top 500, including Hindustan Zinc (#239) and Aurubis (#468).