Drummond presents its roadmap to carbon neutrality

Bogota, May 30, 2023

*By connecting to the national grid, building solar photovoltaic systems, using nature-based solutions and low-emission fuels, among other measures, the company is committed to achieving its goal of carbon neutrality by 2050.

This week, Drummond is presenting its roadmap to carbon neutrality to its key stakeholders, announcing the phases of this action plan and its primary areas of work. Through this strategy, the company will not only reduce its greenhouse gas (GHG) emissions, but will also take leadership for the mining sector’s production and energy transition and create a new portfolio of investments that will increase the country’s energy security.

“We recognize we have a role to play in a global context where the challenge is to reduce greenhouse gas emissions, ensure energy security for countries and promote a just socio-environmental transition for mining workers and communities and the countries that produce fossil fuels. We have been working on this mission for a number of years, and this roadmap demonstrates our commitment,” said Jose Miguel Linares, President of Drummond Ltd.

Alberto Garcia, Country Manager for Drummond Energy said, “In response to the challenge of climate change and in order to move forward into a future with fewer emissions, at Drummond we have adopted strategies for achieving carbon neutrality by 2050. The strategy includes the implementation of technologies and solutions for reducing and offsetting direct CO2e emissions from the operations of our business units. We are also working with suppliers and customers to reduce and offset our indirect emissions.”

To define the path toward carbon neutrality, Drummond enlisted the help of the international consulting firm EY. The first step was to establish a baseline of current emissions from all of Drummond’s business units, in order to define carbon-neutrality targets that would be challenging but achievable, explained Alberto Garcia.

Drummond’s roadmap to carbon neutrality is based on three main pillars: reduction of greenhouse gas emissions, offsetting strategies, and management of indirect emissions throughout the supply chain, including suppliers of goods and services and customers. One of the first milestones of the strategy is a 30% reduction in direct CO2 emissions by 2030.

In this regard, Carolina Riaño, Senior Vice President and Chief Sustainability Officer of Drummond Company, emphasized that “the carbon-neutral transition strategy must go hand in hand with a fiscal and socio-economic transition strategy based on four fundamental aspects:

  • The analysis and diagnosis of international experience and the national context.
  • The inclusion of transition issues in the governance structure and the agenda of the company’s strategic committee.
  • The definition and implementation of strategic programs and projects for education and training, institutional and community strengthening, economic diversification, and workforce retraining.
  • The definition of a process to develop a long-term socio-economic closure plan, up to 2050, for the cessation of mining activities.

In conclusion, the president of Drummond Ltd. reiterated that the company understands transition to be a comprehensive, progressive, and collaborative process to build a shared vision for the future, based on taking advantage of the opportunities of the present. “The entire strategy is aimed at aligning and coordinating efforts and initiatives with the Colombian government, where – from our role and capacity as a company – we can build real and relevant alternatives, based on the characteristics and needs of the region, for the benefit of the communities and the country,” concluded Linares.

To learn more about Drummond’s roadmap to carbon-neutrality, see: https://carbononeutraldrummond.com/