Kalamazoo Resources becomes first gold-lithium exploration company in Australia certified as carbon neutral
Kalamazoo Resources has now fully offset its predicted 2022 emissions as part of the company’s commitment to carbon neutrality.
Pilbara-focused junior Kalamazoo Resources (ASX: KZR) has become the first gold-lithium exploration company in Australia to be certified carbon neutral for its business operations under the Federal Government’s Climate Active program.
The program represents a collective effort between government and businesses to measure, reduce and offset carbon emissions and lessen the nation’s negative impact on the environment.
Carbon neutral certification is awarded to businesses that have credibly reached net zero emissions.
Kalamazoo joins more than 350 Australian companies working under the Climate Active initiative including Australia Post, Commonwealth Bank (ASX: CBA), Cooper Energy (ASX: COE), Energy Australia, Lendlease (ASX: LLC), Qantas Airways (ASX: QAN), and Telstra Corporation (ASX: TLS).
Positive action
Chairman and chief executive officer Luke Reinehr said adopting a carbon neutral position was a positive action and a “smart business decision”.
“We are focused on minimising the impact of our exploration activities in Victoria and Western Australia stakeholders increasingly expect resources companies to make a stronger and more public commitment towards licence-to-operate issues,” he said.
“The continual reduction and offsetting of our emissions is a natural extension to building a sustainable business that incorporates leading ESG (environmental, social and governance) principles.”
Carbon neutral process
The move to carbon neutral requires a business to calculate the greenhouse gas emissions generated by its activities, such as fuel or electricity usage and travel.
It must then work to reduce these emissions to as low as practically possible, by changing the way in which the business operates or by investing in new technology to help achieve reductions.
Any remaining emissions can be balanced out by purchasing carbon offset units, which are generated from activities that prevent, reduce or remove emissions from being released into the atmosphere.
When the offsets purchased equate to the emissions produced, a business is deemed to be carbon neutral.
Active steps
Mr Reinehr said Kalamazoo’s management team was taking active steps to meet the objectives of the voluntary initiative.
“We have committed to offsetting the balance of our audited carbon-generating activity, which is primarily emissions from our exploration work such as diesel used by drilling rigs or power generation for our exploration camps,” he said.
“We are also participating in the Western Farm Trees reforestation program, which involves permanent plantings in the wheatbelt.”
He said the program was recognised by the Australian Government as delivering verified carbon credits which will reduce the equivalent level of greenhouse gases in the atmosphere.