Assessment of South32 (Aluminium) according to the management of its greenhouse gas emissions and of risks and opportunities related to the low-carbon transition.
Current level
Strategic Assessment
Level 0: Unaware of Climate Change as a Business Issue
1. Does the company acknowledge climate change as a significant issue for the business?
Level 1: Acknowledging Climate Change as a Business Issue
2. Does the company recognise climate change as a relevant risk and/or opportunity for the business?
3. Does the company have a policy (or equivalent) commitment to action on climate change?
Level 2: Building Capacity
4. Has the company set greenhouse gas emission reduction targets?
5. Has the company published information on its Scope 1 and 2 greenhouse gas emissions?
Level 3: Integrating into Operational Decision Making
6. Has the company nominated a board member or board committee with explicit responsibility for oversight of the climate change policy?
7. Has the company set quantitative targets for reducing its greenhouse gas emissions?
8. Does the company report on Scope 3 emissions?
9. Has the company had its operational (Scope 1 and/or 2) greenhouse gas emissions data verified?
10. Does the company support domestic and international efforts to mitigate climate change?
11. Does the company have a process to manage climate-related risks?
12. Does the company disclose materially important Scope 3 emissions?
Level 4: Strategic Assessment
13. Has the company set long-term quantitative targets for reducing its greenhouse gas emissions?
14. Does the company's remuneration for senior executives incorporate climate change performance?
15. Does the company incorporate climate change risks and opportunities in their strategy?
16. Does the company undertake climate scenario planning?
17. Does the company disclose an internal price of carbon?
18. Does the company disclose the actions necessary to meet its emissions-reduction targets?
Level 5: Transition Planning and Implementation
19. Does the company quantify the key elements of its emissions reduction strategy and the proportional impact of each action in achieving its targets?
20. Does the company's transition plan clarify the role that will be played by offsets and/or negative emissions technologies?
21. Does the company commit to phasing out capital expenditure on carbon intensive assets or products?
22. Does the company align future capital expenditures with its long-term decarbonisation goals and disclose how the alignment is determined?
23. Does the company ensure consistency between its climate change policy and the positions taken by trade associations of which it is a member?
Carbon Performance alignment of companies in the South32 (Aluminium) sector with the Paris agreement benchmarks.
Please note that this company operates in more than one sector assessed by TPI. TPI therefore con-ducts a sector-specific assessment for each sector in which the company operates. In this assess-ment, only emissions and production data from aluminium production are evaluated, and the com-pany’s aluminium-specific pathway is compared with TPI’s aluminium-specific benchmarks. Other activities undertaken by the company are assessed separately, using only the emissions and production data associated with those activities. Targets adopted by the company that relate to a particular activity are incorporated into the relevant TPI sector-specific assessment. TPI takes a case-by-case approach when interpreting company-wide targets to determine whether they can reasonably be assumed to apply proportionally to the emissions of the activity under con-sideration. Investors may wish to review all sector-specific assessments of a given company in order to understand its overall Carbon Performance. Please note that TPI does not necessarily assess every business segment of a given company. When interpreting TPI Carbon Performance data, it is important to bear in mind that climate science shows temperature change is proportional to cumulative absolute CO2 emissions.