Mr. Praveen Umredkar, Partner at Synergy Consulting, Inc. shares their views on Achieving ESG Targets: How Synergy Consulting Supports Miners in Reducing Emissions and Securing Finance.
As the world pivots towards prioritizing environmental, social, and governance (ESG) standards, mining companies are under increasing pressure to align their practices with corporate sustainability goals. With the elevated scrutiny around their carbon footprints as well as the global call towards a cleaner future, miners have been presented with the formidable challenge to adopt innovative strategies to not only enhance their ESG credentials but also ensure long-term operational viability. This is where Synergy Consulting, an international financial advisory firm with deep expertise in helping firms create actionable emission reduction roadmaps using financial products and investments, comes into play.
Understanding Scope 1 and Scope 2 Emissions
Scope 1, 2 and 3 emissions are different ways of categorizing the sources of a company’s greenhouse gas (GHG) emissions.
Scope 1 emissions are direct GHG emissions that occur from sources owned or controlled by a company, such as diesel combustion in mining equipment. On the other hand, Scope 2 emissions come from the generation of purchased energy, which is often significant in mining operations due to their high energy demands. Scope 3 emissions effectively comprise of all the emissions not included within Scope 1 and Scope 2 emissions (thereby encompassing a company’s whole value chain).
Synergy Consulting’s Role
Synergy Consulting specializes in helping miners achieve their targets through tailored strategies aimed at emissions reduction. Synergy’s comprehensive approach leverages its vast experience of providing financial advisory services and combines its technical expertise, industry experience and access to financial resources to provide an executable blueprint to mining companies to overcome both environmental challenges and capital hurdles.
1. Identifying Emission Reduction Opportunities
Our team of sustainability experts conducts a holistic assessment to pinpoint specific improvement areas for emission reduction within your operations. Synergy’s approach includes a bespoke analysis of the business model to ascertain the right framework and approach to further your ESG objectives.
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