AU - AngloGold points to 30% emissions cut by 2030 net zero by 2050

AngloGold Ashanti ( NYSE: AU ) said Wednesday it is targeting a 30% reduction to its scope 1 and 2 greenhouse gas emissions by 2030 and is committed to achieving net zero emissions by 2050 through a combination of renewable energy projects, fleet electrification and lower emission power sources.

AngloGold ( AU ) said the targeted cut from a 2021 baseline of 1.4M metric tons of carbon dioxide equivalent, aims for emissions from the company's activities to drop to ~1M metric tons by the end of the decade.

AngloGold ( AU ) estimated the capital cost needed to achieve the reductions in eight years at ~$1.1B, including $350M to be funded by the company and the remaining $750M through third-party funding.

The company said it plans to start a process to secure a $250M-$300M green funding facility to finance its portion of the decarbonization initiatives across its business.

AngloGold ( AU ) has been hurt by a dent to its growth profile with limited progress at Quebradona and Gramalote, leaving it with little hope of meeting its FY 2025 targets, Taylor Dart writes in an analysis posted recently on Seeking Alpha .

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