This includes renewable (timber and water) and non-renewable (fossil fuels and minerals and metals) resources and processes such as energy consumption, waste creation, emissions, etc. Without access to the natural capital contained in our mineral reserves and resources our business would not exist.
We maintain and enhance natural capital by:
- reducing our dependence on fossil fuels
- eliminating waste by reusing or recycling it whenever possible
- protecting biodiversity and eco-systems
- wherever possible using renewable resources from well managed and restorative eco-systems
- managing resources and reserves efficiently.
The risks associated with climate change
Pricing and the availability of electricity supply
- Business continuity and profitability
- Investing in new technology to increase energy efficiency
- Climate change
Health and safety
- Environmental aspects of climate change
- The Venture’s production of significant quantities of indirect and direct greenhouse gas emissions(GHGs)
- Investing in new technologies to reduce emissions
Climate change remains a key longer-term risk for the Venture. The potential risks it faces from climate change are both physical and financial. They are complex risks as they include operational risks such as business continuity, health and safety, environmental aspects and regulatory aspects. The Venture needs to constantly engage with legislators, researchers and industry bodies, track and evaluate the situation and develop an improved awareness of and preparedness for the risks associated with climate change. It works with members of its industry and other stakeholders to understand the potential impacts of climate change and take action to minimise them where climate change is likely to have the most effect and where the Venture can make the greatest difference.
Possible physical and financial impacts
The Venture’s operations could be damaged by flooding and extreme storms which could cause business interruptions. The reduced availability of water could also interrupt its business and could have health impacts. Some of the Venture’s operations are located in arid areas where prolonged drought conditions could limit production growth or prevent it from operating.
- Biodiversity and land use