Vulcan Materials Company released its 2023 TCFD (IFRS) Report on October 11, 2024, detailing its approach to climate-related risks and opportunities. The report aligns with the International Sustainability Standards Board (ISSB) International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures recommendations and the TCFD framework. It provides an overview of the company's governance and oversight of climate-related issues, along with identified material risks and opportunities.
The report outlines Vulcan's strategy to identify, assess, and manage climate risks, including both transition and physical risks over short, medium, and long terms. Key actions include monitoring legal and regulatory changes, adapting permitting processes, and exploring low-carbon materials. The company is also strengthening its greenhouse gas (GHG) data collection for Scopes 1, 2, and 3 emissions.
Specific metrics from the report highlight the company's environmental performance and initiatives. Vulcan reported gross global Scope 1 emissions of 921,276 MTCO2e for 2023, with 0% of its operations covered under emissions-limiting regulations. The company consumed 18,174,225 GJ of energy, with 18% from grid electricity and 13% from renewable sources, demonstrating its commitment to sustainable practices.
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