Gold Mining and Net Zero: A Comprehensive Assessment of St Barbara Limited’s Carbon Management Strategy and Performance

Yiming Zhan ()
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Yiming Zhan: University of Queensland

A chapter in Proceedings of the 2024 3rd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2024), 2024, pp 139-152 from Springer

Abstract: Abstract In today’s society, the expansion of industrialization has increased energy consumption and pollution. Global climate change is intensifying. In this context, to control global warming and environmental pollution, net zero and carbon management are being taken seriously by the international community and orgnisations. Consequently, traditional heavy industry enterprises represented by gold mining will face greater pressure and supervision. How to balance the economic goals and external pressure from public will be a severe challenge for enterprises. This paper will discuss emission estimates under different types of scopes. According to St Barbara’s 2022 sustainability report, the total Scope 1 emissions were 145 kilotons (kt) Carbon Dioxide Equivalent (CO2e), Scope 2 emissions were 48 kt CO2e and Scope 3 emissions were 436 kt CO2e. Additionally, the relationship between revenue, gold production, and overall performance will also be analyzed. Secondly, the report discusses St Barbara’s carbon management strategies, including Ropecon replacement of traditional trucks, coral and mangrove plantings, and wetland restoration projects. These initiatives share a common trait: high initial investment aimed at achieving long-term stable economic and social benefits. The report questions the company’s Scope 2 carbon emission estimation data and believes that further investigation and demonstration should be conducted. Finally, this report acknowledges the limitations and puts forward three suggestions for improving carbon management performance in traditional heavy industrial enterprises represented by St Barbara. These suggestions are: implementing more clean energy or renewable energy, enforcing stricter monitoring and management of carbon emissions, and strengthening employee training on environmental protection.

Keywords: Carbon Management; Net Zero; Gold Mining; St Barbara Limited; Emission Estimates; Sustainability Strategies; Renewable Energy; Environmental Protection (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-548-5_18

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