Resources company Exxaro Resources is sending several of its executives and sustainability experts to form part of the South African delegation to participate at the COP26 climate change summit, which is being held in Glasgow, Scotland, from October 31 to November 12.
COP26 convenes global leaders to galvanise efforts in the pursuit of net-zero emissions by 2050 and for global emissions to be halved by 2030. Companies like Exxaro – which embrace this opportunity – will play a pivotal role in saving the planet and ensuring sustainable livelihoods, the resources company states.
Exxaro CEO Mxolisi Mgojo says the company shares the commitment of the South African government to continue contributing its fair share to address climate change and supports the country’s efforts in meeting international climate change commitments in the form of the Nationally Determined Contribution (NDC) under the Paris Agreement.
“We note that, last year, South Africa established a Presidential Climate Commission to coordinate the implementation of the country’s low emissions development strategy and advise government on a just transition to a low-carbon economy. Together, government and businesses can act in a manner that allows our nation to ambitiously plan and respond accordingly to the intensified impact of climate change.
“More specifically, the Paris Agreement aims to keep the rise in the global average temperature to below 2 °C and 1.5 °C ideally. The agreement aims to strengthen the planet’s ability to adapt to climate change and build resilience as countries lower greenhouse gas emissions and implement climate-resilient practices,” he adds.
The agreement also has an individual aspect where countries decide and commit to their emissions reduction targets within a specified timeframe.
Mgojo says COP26 is crucial, given the pressing need to accelerate achievement of the goals of the Paris Agreement, which was signed by 196 countries during COP21 in 2015. This agreement has been on the back burner, due to complex geopolitical issues and management of the Covid-19 pandemic.
"However, the converging negative impacts of climate change and Covid-19 have resulted in countries pursuing sustainable solutions to address these effects and to look at new opportunities for a low-carbon transition.
"Exxaro believes climate change must be addressed comprehensively, especially in the African continent, given the accumulated effects of poverty, unemployment, inequality and devastating forces of nature.
“We as Exxaro management, supported by our board, have outlined a strategy which aims to respond to the impending low-carbon transition; build a resilient, future-facing portfolio; increase customer diversification and multiple revenue streams; and maintain our own environmental, social, and corporate governance performance platform to be a catalyst for sustainable economic and environmental development,” says Mgojo.
Additionally, Exxaro recently announced that it has joined forces with South African electricity public utility Eskom and Seriti Resources to develop renewable energy projects that will help transition South Africa into a low carbon future.
“Through our vision, we aim to produce resources which will power a clean world, which means that we need to transition at speed and scale in making our minerals and energy businesses thrive, thereby ensuring that as a company we are able to meet our target of becoming carbon neutral by 2050,” concludes Mgojo.