Net Zero Commitment

2021 Sustainability Report
FY21 ESG Performance Data
FY21 Sustainability Case Studies

For our planet and our future there is growing commitment amongst world nations and businesses towards a Net Zero future. There is also an increasing expectation from all stakeholders, that action with a positive impact on achieving a Net Zero future, is implemented. This is a future state where there “is no incremental addition of greenhouse gases into the atmosphere” (Net Zero definition – Intergovernmental Panel on Climate Change, IPCC).

Evolution supports the Paris Agreement and in FY21 announced a commitment to be Net Zero by 2050 (Scope 1 and 2 emissions only) and an interim target of reducing our emissions by 30% by 2030 (against a FY20 baseline). In the development of Net Zero targets, it is recognised that the current asset portfolio may change over time. However, our commitment to sustainability will continue throughout the life of the Company, making Net Zero relevant, including for the communities in which we operate.

Evolution’s mid to long-term carbon reduction pathways will include:

  • Migration to renewable energy sources
  • Partnerships with industry, government and supply chains to maximise use of low-emission solutions
  • Technology roadmaps to support process and efficiency improvements
  • Integration of carbon reduction plans within our business planning framework
  • Improved transparency in reporting progress and performance

OUR TARGETS

30% reduction by 2030
Net Zero emissions by 2050

Why Net Zero?

Context

To ensure long term stakeholder value is delivered, Evolution is building climate related risk resilience in our operations and our communities.

The current asset portfolio at Evolution may change over time. However, Evolution’s commitment to sustainability will continue throughout the life of the company, making “Net Zero” relevant.

Scope 2 emissions was the most significant portion of Evolution’s emissions. Therefore, focusing on renewable energy sources will deliver the greatest impact on emissions reduction over the short to mid-term.

Technology transition and mobile fleet replacement pose key barriers to more significant reductions in Scope 1 and planning for the long-term transitional change has commenced.

Methodology

Paris-aligned; GHG Protocol’s location-based or market based emission factors should be used to measure annual
energy use.

Net Zero Decarbonisation Approach by 2050

Our Actions

1. Footprint - Understanding, managing and reducing emissions (Scope 1 and 2)

Specific opportunities include:

  • Planning process – integrating emissions reduction opportunities and projects into Provincial Plan, Life of Mine Plan (LOM)
  • Climate scenarios – stress testing climate scenarios through workshops with external consultant
  • LOM forecasting – developing credible estimates of Scope 1 and Scope 2 GHG emissions
    Projected emissions intensity built into planning (per unit of production) (transition risk)
  • Energy efficiency – conduct energy audits to identify process improvement opportunities
  • Sustainable procurement strategy – development of a strategy that includes emissions reduction opportunities including renewable energy

2. Partnerships - Industry, government and supply chain collaboration for higher use of low-emissions solutions i.e. Sustainability Advantage, Electric Mine Consortium

Specific opportunities include:

  • Renewable energy – active management with energy suppliers to deliver renewable energy sources for grid connected operations
  • Sustainability Advantage – participating in the Net Zero Emissions Leadership Accelerator Pilot
  • Electric Mine Consortium – Battery Electric Vehicles, Energy Storage and Electrical infrastructure, Underground and Open Cut efficiency
  • Funding and grants – partner with industry peers and representatives to secure grant funding for emissions reduction opportunities
  • Mine Expansion, independent peer review – refine RA process for energy efficiency
  • Planning for long-term transition risk – Continue membership and climate policy advocacy with Ontario Mining Association, New South Wales Minerals Council, The Chamber of Minerals and Energy of Western Australia, Queensland Resources Council, and Minerals Council of Australia for an orderly transition to a low emission economy
  • Northern Industrial Electricity Rate Program (NIER) (Canada)

3. Technology Pathways – Utilising technology to improve resource use efficiency

Specific opportunities include:

  • Technology Roadmap – develop business-wide roadmap focusing on innovation, adaptation, technology – Multiple projects already in the pipeline – automation, tailings efficiency, renewable energy, future fuels etc
  • Pumped Hydrogen Project – Mt Rawdon (Shared Value Project)
  • Emission reduction plans at each operation and Group
  • Sustainable Procurement Strategy – Internal Carbon pricing
  • Red Lake Battery Storage Project
  • Battery Electric Vehicles

4. Capital - Allocating capital to prioritise and support deployment of seed funding to trial reduced emissions solutions

Specific opportunities include:

  • Review of how technology and R&D can be funded, including offset mechanisms

5. Transparency - Transparent reporting on our progress and performance i.e. NGERs and TCFD

Specific opportunities include:

  • Full alignment with TCFD reporting
  • Potential external assurance on TCFD disclosures in the near future
  • NGERs compliance

Climate Risk Management

Water Management

Energy and Emissions Management

Tailings Management

Air Quality Management

Biodiversity Management

Waste
Management

Rehabilitation and Closure Management

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