February 22, 2022
Newmont ended 2021 with an ambitious pledge: a 32 percent reduction in its Scope 1 and 2 carbon emissions by 2030, and 30 percent reduction in Scope 3 emissions by 2030. The company has closed the industry’s first sustainability-linked bond in relation to the commitment, raising proceeds of $992 million. The move is a testament to Newmont’s environmental, social and governance (ESG) performance. In addition, the bond contains a commitment to increasing the representation of women in its senior leadership.
“The successful execution of our sustainability-linked note demonstrates bondholder confidence in our ability to maintain financial strength and deliver long-term value to all of our stakeholders,” said Newmont president and CEO Tom Palmer. “This offering further aligns our financial and ESG performance, linking our commitments to climate change and gender parity. Our long history of taking a leading approach to ESG practices has positioned Newmont as the gold sector’s recognized sustainability leader and we continue to challenge ourselves and the industry through our commitment to sustainable and responsible mining.”