Codelco has released its 2025 Climate Change Report, marking the company’s first comprehensive review of its climate action strategy. The report details the company’s progress, challenges, and future plans in reducing emissions and increasing resilience to climate change.
“This document is not only a declaration of principles, it is also a concrete demonstration of our commitment to transparency, responsibility, and leadership in climate action, as it reflects our conviction that responsible mining is inseparable from our corporate purpose and the sustainable future of Chile and the world. For us at Codelco, it marks the beginning of a new era in corporate management, in which climate change ceases to be an external challenge and becomes a robust cornerstone of our business strategy,” said Codelco CEO Rubén Alvarado.
The report follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and aligns with Codelco’s Corporate Sustainability Policy. It outlines a plan through 2030 that aims to build internal capacity, develop management tools, and ensure that climate considerations are integrated throughout the organization.
By 2024, Codelco had achieved a 27% reduction in Scope 1 and 2 greenhouse gas emissions compared to 2019 levels. The company aims for carbon neutrality by 2050 and has set targets to reduce Scope 3 emission intensity by 25% by 2030. Codelco also plans to electrify all personnel transportation vehicles by 2040.
Initiatives contributing to these goals include quantifying the company’s carbon footprint through Chile’s official Huella Chile program and deploying over 250 electric buses for staff transport—the largest such fleet in Chilean mining. Codelco has also secured contracts for a fully renewable energy supply by 2030 and is testing new technologies to decarbonize extraction trucks and underground operations.
Efforts to cut Scope 3 emissions include projects with suppliers such as Enaex at Radomiro Tomic, where new explosives have reduced the carbon footprint by 40% compared to traditional products. Additionally, using circular economy practices with Magotteaux for grinding ball production at El Teniente has resulted in an annual reduction of CO2 emissions by 40,000 tons.
To address physical risks from climate change—such as droughts, floods, and heat waves—Codelco has integrated specific measures into its Comprehensive Risk Management and Control System (SIGRC). A multidisciplinary panel was created to assess emerging climate risks comprehensively.
The company is collaborating with organizations like the Sustainable Minerals Institute (SMI) at the University of Queensland to develop frameworks for modeling future scenarios related to physical climate risks and support adaptation strategies.
In water management, Codelco set a goal to reduce freshwater consumption per unit at sulfide plants in water-stressed areas by 60% by 2030 compared to 2019. By 2035, it aims for freshwater use in highly stressed basins to be less than 10%. Projects supporting these goals include desalination plants supplying industrial water starting in 2026 and initiatives to recirculate mine water and improve efficiency.
The company’s innovation strategy now relies on open collaboration with mining sector stakeholders, technology providers, and academic institutions. Through its Open Codelco Conecta platform, more than 450 proposals have been received and about 20 are being implemented. Codelco is also building partnerships with universities worldwide and industry partners such as AMSA, BHP, Toyota, Mitsui, Komatsu, and CAT.
