Uralkali has set out its climate strategy
Uralkali Board of Directors has approved a climate strategy defining targets and measures to reduce greenhouse gas emissions by 2030.
While preparing the strategy, the company calculated greenhouse gas emissions and the carbon footprint of products. The results showed that due to the peculiarities of the production process, potash products are characterized by a low carbon footprint relative to other types of fertilizers and products of some other industries. Besides, the analysis of global potassium fertilizer producers showed that Uralkali has the lowest level of greenhouse gas emissions in the industry.
In the framework of the climate strategy, Uralkali plans to reduce specific greenhouse gas emissions by 10% by 2025 and by 20% by 2030. The company expects to achieve carbon neutrality by 2050.
The document provides seven priority areas of activities to achieve the set goals. In the short- and mid-term plans, efforts of the company will be focused on improving the energy efficiency of production and infrastructure facilities, switching to low-carbon fuels, including eliminating fuel oil.
Uralkali will pay special attention to the program for the development of renewable energy. Among the targets of the strategy is an increase in the share of green electricity to 20% in total consumption by 2025. At the end of 2021, the company already conducted a pilot purchase of electricity from renewable sources.
Uralkali has also begun the implementation of research and development projects, as well as pilot projects in the following areas: carbon dioxide capture and storage, reduction of fuel consumption, conversion of motor vehicles to alternative types of energy, and implementation of forestry projects.
The preliminary investments required to achieve the 2030 climate targets are $50-100 million.