OceanaGold Corporation WAI-985-000-REP-LC-0056_Rev0 Page 24 of 36 2 STATEMENT OF POSITION 2.1 Overview Climate change is a complex global challenge which impacts the environment, communities and the global economy. The large-scale and long-term nature of the problem makes it uniquely challenging, especially in the context of economic decision making. Understanding the risks and opportunities associated with climate change including market impacts, policy and legislative change and physical climate change impacts, is critical to sustaining ongoing business success. 2.2 Recognition Statements OceanaGold recognises: • Mining contributes to global greenhouse gas (GHG) emissions through, for example: Generating greenhouse gas from direct combustion of fossil fuels; Consumption of electrical energy generated from fossil fuels; and Clearing of vegetation. • Mining can contribute to reducing GHG emissions through: Developing and supporting climate change policy; Reducing direct fossil fuel energy consumption and the purchase of electricity generated from fossil fuels; Offsetting emissions with reforestation and other permanent carbon storage technologies; and Developing and adopting technologies to use energy more efficiently, increase the efficiency of our gold mining processes and decarbonise our energy supply chains. • Delivery of net zero carbon emissions production will rely on step changes, from new and emerging technologies to decarbonise our electricity supplies and mobile equipment use. 2.3 Commitments OceanaGold supports the Paris Agreement’s goal of limiting the increase in global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the increase to 1.5°C. To achieve this, OceanaGold will: • Set a goal to achieve net zero GHG emissions from our Operations by 2050. • Establish milestone intensity targets (GHG emissions per ounce of gold produced) by the end of 2022 to support delivery of the 2050 goal; • Link employee performance incentives to the delivery of our climate change commitments; • Develop and implement an Energy and Greenhouse Gas Emissions Management Plan at all current Operations by the end of 2022 to describe and deliver short- and medium-term actions that reduce GHG emissions and improve production efficiency;
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