Glencore has set a net-zero emission target by 2050 and plans to prioritize investments in metals to contribute to the transition.
The first step of the target is cutting by 40% of its total emissions by 2035.
The company then will focus on investing in metals, such as cobalt, nickel, and copper.
Glencore expected that this year’s copper demand would show at least a 15% increase year-on-year, along with the growth in renewables power generation capacity, EV sales, and associated infrastructure. By 2035, it estimated copper demand to soar by 45%, and by 2050 it would jump by 95%, according to its different scenarios.
For zinc, Glencore projected that by 2025, demand would rise to 106% of 2019 levels, and by 2050 it would hit 145%.
