JOHANNESBURG (miningweekly.com) – Diversified mining company Glencore said on Wednesday that it was furthering its commitment to a low carbon transition, following engagement with the investor signatories of the Climate Action 100+ initiative.

As one of the world’s largest diversified mining companies, Glencore sees itself as having a key role to play in enabling the transition by prioritising capital investment to grow production of commodities essential to the energy and mobility transition and to limit its coal production capacity broadly to current levels.

Commodities in the Glencore portfolio that underpin energy and mobility transformation include copper, cobalt, nickel, vanadium and zinc.

The company’s commitments include Paris Agreement-consistent capital discipline, developing new longer-term scope one and scope two reduction targets, a regular review of progress, alignment with Task Force on Climate Financial Disclosures recommendations and corporate climate change lobbying review.

It recognises climate change science as set out by the United Nations Intergovernmental Panel on Climate Change and believes that the global response to climate change should pursue limiting temperatures in line with the goals of the Paris Agreement and supporting the United Nations Sustainable Development Goals, including universal access to affordable energy.

Glencore, headed by CEO Ivan Glasenberg, announced 2018 returns to shareholders totalling $5.2-billion as well as further distributions and share buybacks in 2019.

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The group's operations comprise some 150 mining and metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in 50-plus countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. The company also provides financing, logistics and other services to producers and consumers of commodities. Glencore, which employs 158 000 people, including contractors, is a member of the Voluntary Principles on Security and Human Rights as well as the Council on Mining and Metals, and takes part in the Extractive Industries Transparency Initiative.