Wheaton is committed to the protection of life, health and the environment for present and future generations. At Wheaton, we acknowledge that human activity is contributing to climate change and environmental degradation and that global action is required to mitigate these risks. As a company that operates within the mining industry, but neither owns nor operates any mines, our goal is to minimize our direct and indirect impacts on the environment, through the way we conduct our own business and manage our offices, and in the ways that we manage our relationships with our mining partners. Our Climate Change and Environmental Policy outlines our approach and commitment related to climate change and environmental challenges.
Wheaton is a formal supporter of the Task Force for Climate-Related Financial Disclosures (TCFD). In 2021 we made notable strides in implementing the TCFD recommendations by conducting analysis of two climate scenarios to further our understanding and identification of potential climate-related risks and opportunities, and developing a climate strategy to achieve net zero carbon emissions by 2050. In 2021, we also began measuring and disclosing our Scope 3 attributable emissions from our mining partner operations. See our Sustainability Report for more information.
Commitment to Net-Zero
In February 2022, Wheaton announced its commitment to net zero carbon emissions by 2050, which is supported by the following goals and targets:
- Reduce Scope 1 and 2 emissions by 50% by 2030 from a 2018 baseline (SBTi-validated target)
- 100% of streams that contribute over 4% to our total financed emissions covered by emissions reductions targets aligned with 1.5 degrees by 2040
- Support our Mine Partners' decarbonization and climate solution efforts. In 2021, Wheaton announced an initial $4M commitment to support the deployment of renewable energy and other solutions at mine partner sites.