Eldorado’s new climate report pledges 30% GHG cuts by 2030

Marilyn Scales | February 9, 2022 | 10:24 am News Canada Europe Copper Gold Silver Zinc and Lead 
Eldorado has mapped out how it will cut its GHG emission 30% by 2030. Credit: Eldorado Gold.

Eldorado Gold (TSX: ELD; NYSE: EGO) has published its first climate change and greenhouse gas report, which pledges a 30% reduction in the amount of (GHG) emissions by 2030 from 2020 levels. The reduction is equal to approximately 65,000 tonnes of carbon dioxide-equivalent.

To reach its goal, the company is pursuing four key strategies: measuring and monitoring; operational efficiency and continuous improvement; technology, process and energy generation; and an energy procurement strategy.

“Responsible mining is at the foundation of our business, and this report is a culmination of more than two years of work completed by our global teams,” said George Burns, president and CEO. “We have made tremendous progress to better understand and address climate-related risks and opportunities facing our business, which will help us achieve our GHG emissions target and support our journey to decarbonization.”

Eldorado has been tracking and reporting on its GHG emissions since 2016 and made progress in several areas. The sustainability and integrated management system (SIMS) was launched last year. It provides company-wide minimum performance standards for health and safety, environment, social performance and security. Specific standards are set out for energy and GHG monitoring, management and project integration.

The company is implementing its Energy and Carbon Management System, which supports identification, assessment, selection and tracking of energy and climate-related risks and opportunities during project design. It also drives efficiencies at existing operations.

In 2020, Eldorado was already a leader in carbon emissions intensity among its peers. The company reports an average intensity of 0.37 tonne carbon dioxide-equivalent per ounce of gold produced at its four operating mines. Similar underground and open pit mines in the sector averaged 0.67 tonne carbon dioxide-equivalent per ounce.

Eldorado operates gold mines in Quebec (Lamaque), Greece (Olympias) and Turkey (Kisladag and Efemcukuru), as well as a silver-zinc-lead mine in Greece (Stratoni). It is advancing growth  projects in Greece (Skouries gold-copper and Perama gold-silver) and in Romania (Certej gold-silver).

The full report can be read at www.EldoradoGold.com/responsibility.

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