Freeport-McMoRan Inc

"The net zero target of Freeport-McMoRan Copper, also known as Freeport-McMoRan Inc, is to achieve net zero emissions by 2050. Net Zero Tracker
This target was included in a corporate policy or planning document and was reached in 2020. Net Zero Tracker
The company's interim target is to reduce emissions by 15.0% per ton of copper cathode relative to 2018 emissions by 2030. Net Zero Tracker
An interesting fact about their environmental policy is that they plan to balance residual GHG emissions with offsets and removals, exploring a variety of opportunities to achieve their net zero aspiration. Net Zero Tracker …"

Current Score (vs. LY)

15.5 pts (2.5)

Last Update: Dec. 12, 2023

Current Rankings

Global: #293

S&P500: #182

Materials: #18

26.7%

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

6.3%

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

16.7%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 4,575,5594,229,8944,725,624
Scope 2 - location-based NANANA
Scope 2 - market-based 2,614,1552,885,9253,043,072
Scope 1-2 - location-based 4,575,5594,229,8944,725,624
Scope 1-2 - market-based 7,189,714 7,115,819 7,768,696
Scope 3 5,179,522600,5440
Total - location-based 9,755,0814,830,4384,725,624
Total - market-based 12,369,236 7,716,363 7,768,696

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 45,446,56245,783,738
Methodology Pre-calculated sector intensity (revenue)Pre-calculated sector intensity (revenue)

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

Freeport-McMoRan Inc belongs to the sector Materials.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email


Net Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email


Net Zero Future Commitments

There is no net zero target recorded in our database. Email us to report missing information Email


Science-based Targets (SBTI)

Date Published / Updated :01/04/2022

Near-term Long-Term Net Zero Standard
Removed No target No
Data source: SBTI

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for Freeport-McMoRan Copper by zerotracker.net: Sept. 4, 2024
Planning to use external offset credits Yes
Separate targets for emission reductions and removals No
Conditions on use of offset credits
  • No conditions specified
Plans for carbon dioxide removal (CDR) Yes (CCS-based removals e.g. BECCS, DACCS)

Additional notes: Offset: 'This is a high-level, initial illustrative net zero pathway only. As we develop our understanding and make plans for our 2050 net zero aspiration, we anticipate that we will need to balance residual GHG emissions with offsets and removals and plan to explore a variety of opportunities to achieve our net zero aspiration.' (p48: https://www.fcx.com/sites/fcx/files/documents/sustainability/2020-Climate-Report.pdf) CCS-based: 'After 2030, decarbonization would continue with increased electrification, hydrogen use and carbon capture, utilization and storage (CCUS) deployment.' (p29: https://www.fcx.com/sites/fcx/files/documents/sustainability/2020-Climate-Report.pdf)

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points) 		Max
(points) 		Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 0.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 0.0 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 8.0 10.0 0.0
Transparency 8.0 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 0.0 10.0 0.0
5 Net Zero targets demonstrate a high-level of emergency 0.0 10.0 0.0
6 Emission reduction targets on a forward-looking basis are ambitious 0.0 10.0 0.0
7 Targets are science-based as validated by SBTi 2.5 10.0 0.0
Commitments 2.5 40.0 0.0
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 5.0 10.0 2.5
Results 5.0 30.0 2.5
Total 15.5 100.0 2.5


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? NC 0.0 / 5.0 0.0 0.0 0.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? NC 0.0/ 5.0 0.0 0.0 0.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? NC 0.0 / 5.0 0.0 0.0 0.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? B 8.0 / 10.0 8.0 0.0 4.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? NC 0.0 / 3.0 0.0 0.0 0.0
Does the net zero target include an intermediate target by 2030? NC 0.0 / 3.0 0.0 0.0 0.0
Does the net zero target include all the emissions? NC 0.0 / 4.0 0.0 0.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? NC 0.0 / 5.0 0.0 0.0 0.0
Target year for achieving net zero emissions for S1+S2+S3 combined? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?
0.0 / 5.0 0.0 0.0 0.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? Committed NA 2.5 / 10.0 2.5 0.0 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 2.4°C 5.0 / 10.0 2.5 2.5 0.0
Total 15.5 / 100.0 13.0 2.5 4.0


Available Data Sources

Reporting Year 2021 2020 2019
Source Yourstake CDP CDP
Publication Year unknown 2021 2021
Scope 1 4,575,559 4,229,894 4,725,624
Scope 2 - location-based NA NA NA
Scope 2 - market-based 2,614,155 2,885,925 3,043,072
Scope 1-2 - location-based 4,575,559 4,229,894 4,725,624
Scope 1-2 - market-based 7,189,714 7,115,819 7,768,696
Scope 3 5,179,522 600,544 0
Total - location-based 9,755,081 4,830,438 4,725,624
Total - market-based 12,369,236 7,716,363 7,768,696

Sources

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

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