Climate Strategy
Built on Action, Not Accreditations
At Barrick, we believe action speaks louder than pledges. Rather than chasing third-party accreditations, we focus on transparent, achievable emissions reductions, supported by real investment and measurable outcomes.
As stewards of our shareholders capital, we ensure that every dollar spent delivers value both for the business and the environment.
Our Net Zero Roadmap, first published in 2021, set out clear pathways with committed capital to meet our targets. Since then, we have delivered on nearly all feasible opportunities to integrate renewable and cleaner energy into our operations. At this stage, further progress depends on advances in energy storage, access to low-carbon national grids, fleet technology, and alternative low-emission power sources.
Our targets were developed based on a steady- state production model anchored in our 2018 emissions baseline. However, Barrick is evolving. As we shift from Barrick Gold to Barrick Mining, our portfolio is growing, bringing over 50 percent more gold equivalent ounces and establishing some of the world’s largest copper operations.
This scale-up brings new emissions, not acquired ones. We build growth, we do not buy it.
As a result, our emissions forecasting was refined in 2024 to account for this changing profile. While tonnes of ore processed are expected to fall by over 17 percent compared to 2018, total gold equivalent output will rise significantly. This changes both our absolute and intensity-based emissions trajectories.
Our roadmap remains a living strategy.
It evolves continuously to capture new technology, operational efficiencies, and project opportunities. At the heart of this approach
is our Carbon Project Pipeline, a tool that prioritizes emissions-reduction initiatives based on cost and implementation confidence. It ensures we can scale the right solutions at the right time to meet our long-term goals.
Climate Strategy – Sustainability Report 2024