Carbon Performance assessment of diversified mining methodology note - version 4.0

The Carbon Performance assessment of diversified mining methodology note - version 4.0 outlines how major diversified mining companies are evaluated against global climate targets, including those under the Paris Agreement. The methodology benchmarks companies’ emissions intensity against sector-specific decarbonisation pathways, enabling investors to assess how aligned diversified miners are with the transition to a low-carbon global economy.

Using the Sectoral Decarbonisation Approach (SDA), the framework translates international greenhouse-gas reduction goals into measurable benchmarks for the mining sector. It compares companies’ emissions intensity - based on greenhouse gas emissions relative to mining output - with benchmark pathways derived from climate scenarios and modelling such as that produced by the International Energy Agency (IEA). To enable comparisons across companies producing different commodities, the methodology standardises production using a copper-equivalent (Cu-Eq) metric, providing a consistent way to evaluate companies’ carbon performance.

This 2024 methodology note represents the most recent iteration of TPI’s Carbon Performance framework for diversified mining.