22 Oct Codelco replaces “green copper” project and sets the goal of tracing all its production
Codelco, the largest copper producer in the world, announced in 2017 an ambitious plan to sell “green copper”, which would ensure a better price compared to the conventional one, and in turn, would meet higher environmental standards.
At the time, the news was widely applauded and the state company aspired to be “pioneer and leader” in the area. However, the project could not be sustained over time after Codelco noted that could not guarantee a green certification when delivering its products to the market, which would not guarantee better prices.
As reported by Pulso, given this scenario, Codelco abandoned the “green copper” plan, an announcement that takes place a few weeks before Chile being the host of the United Nations Environment Summit COP 25. But this decision has been accompanied by a new broader plan that could pave the way for more significant sustainability standards.
The new plan considers tracing the total production of Codelco – which reaches 1.7 million tons per year -, within a maximum period of two years. And to achieve this, the company designed a methodology that includes 75 parameters that measure variables such as water resources, use of clean energy, and gender equity, among others.
One of the biggest problems that Codelco has faced in recent times is the aging of its mines, to which is added a complex international context, where the price of the red metal has fluctuated downward due to the trade war between China and the United States.