Teck Broadcasts Expanded Web-Zero Local weather Technique

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VANCOUVER, British Columbia, Feb. 25, 2022 (GLOBE NEWSWIRE) — Teck Assets Restricted (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) at present introduced an growth to its local weather motion technique, together with a brand new short-term aim to realize net-zero Scope 2 (bought electrical energy) greenhouse fuel (GHG) emissions by 2025 and an ambition to realize net-zero Scope 3 (worth chain) emissions by 2050, constructing on the present dedication to realize net-zero emissions throughout operations by 2050.

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“Teck is dedicated to lowering emissions throughout our operations and all through the worth chain of our merchandise. This expanded local weather technique builds on the progress we have now made to date to scale back our GHG footprint and to help international motion on local weather change,” stated Don Lindsay, President and CEO. “We are going to work intently with our prospects and suppliers to help their very own emissions reductions and obtain our net-zero Scope 3 ambition, whereas persevering with to offer the metals and minerals important to the world’s transition to a low-carbon financial system.”

“Teck is already one of many world’s lowest carbon-intensity producers of copper, zinc and steelmaking coal and we’re dedicated to additional lowering the carbon footprint of our actions to help a cleaner future,” added Lindsay.

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The vast majority of Teck’s enterprise, together with all of our steelmaking coal operations, have been coated by carbon pricing since 2008 and Teck has been a robust advocate for broad-based carbon pricing.

Below the expanded technique, Teck has set extra local weather objectives and can take additional actions to scale back emissions throughout all actions, together with operations and the downstream worth chain:

Operational (Scope 1 and a couple of) emissions objectives, which embrace GHG emissions from power sources owned and operated by Teck and emissions associated to the era of bought electrical energy utilized by Teck:

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Worth chain (Scope 3) emissions objectives, which embrace GHG emissions from sources owned or managed by different entities downstream of our price chain together with the transportation and use of our merchandise, of which 90% relate to using steelmaking coal by our steelmaking coal prospects.

Teck doesn’t have direct management over steelmaking manufacturing processes and related Scope 3 GHG emissions. As such, we’ll work to companion and speed up decarbonization pathways by supporting the applying of applied sciences resembling carbon seize, utilization, and storage (CCUS) essential to realize our prospects’ net-zero Scope 1 and a couple of commitments and consequently our net-zero Scope 3 ambition. Greater than 50% of our steelmaking coal gross sales are made to prospects who’ve made public commitments to be net-zero by 2050 or sooner, and we count on this pattern to extend over time.

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Now we have already begun taking concrete steps in direction of attaining Scope 3 reductions related to transportation. In November 2021 we introduced a partnership with Oldendorff Carriers to make use of power environment friendly bulk carriers for shipments of our steelmaking coal, contributing to our Scope 3 objectives. This partnership is estimated to scale back as much as 45,000 tonnes of CO2 yearly, the equal of eradicating practically 10,000 passenger automobiles from the highway.

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Local weather Motion and Progress
Teck has greater than 10 years’ expertise setting and attaining greenhouse fuel (GHG) discount targets and is dedicated to lowering our operational GHGs in keeping with limiting international warming to 1.5°C.  To help our Board of Administrators and senior administration in attaining its Scope 1, 2 and three objectives, Teck has assembled a devoted decarbonization group reporting collectively to the President & CEO and Chief Working Officer, targeted on working with the operations to ship on its pathway to web zero by 2050.

To be taught extra about Teck’s method to local weather motion, go to the Local weather Change part of teck.com.

Ahead Trying Statements
This information launch incorporates sure forward-looking info and forward-looking statements as outlined in relevant securities legal guidelines (collectively known as forward-looking statements). These statements relate to future occasions or our future efficiency. All statements aside from statements of historic reality are forward-looking statements. The usage of any of the phrases “will”, “estimate”, “count on”, “ambition” and related expressions is meant to establish forward-looking statements. These statements contain identified and unknown dangers, uncertainties and different components that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. These statements communicate solely as of the date of this information launch.

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These forward-looking statements embrace, however will not be restricted to, statements referring to our dedication to scale back greenhouse fuel emissions, to realize web zero greenhouse fuel emissions or to scale back the carbon depth of our operations and the actions we intend to take to realize these commitments and the anticipated impression or impact of these actions.

The forward-looking statements on this report are primarily based on various estimates, projections, beliefs and assumptions the administration group believed to be cheap as of the date of this report, although inherently unsure and troublesome to foretell, together with however not restricted to expectations and assumptions regarding: the event, efficiency and price of know-how wanted to advance our objectives; our capacity to draw and retain expert workers; the timing of the receipt of permits and different regulatory and governmental approvals; environmental compliance prices typically; and assumptions relating to the event of our enterprise typically and basic financial circumstances. We warning you that the foregoing listing of essential components and assumptions shouldn’t be exhaustive. Different occasions or circumstances might trigger our precise outcomes to vary materially from these estimated or projected and expressed in, or implied by, our forward-looking statements.

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Inherent in forward-looking statements are dangers and uncertainties past our capacity to foretell or management. Additional info regarding dangers, assumptions and uncertainties related to these forward-looking statements and our enterprise might be present in our most up-to-date Annual Info Kind filed beneath our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) beneath cowl of Kind 40-F, in addition to subsequent filings that will also be discovered beneath our profile. We assume no obligation to replace forward-looking statements besides as required beneath securities legal guidelines.

About Teck
As considered one of Canada’s main mining corporations, Teck is dedicated to accountable mining and mineral improvement with main enterprise items targeted on copper, zinc, and steelmaking coal, in addition to investments in power property. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Inventory Change beneath the symbols TECK.A and TECK.B and the New York Inventory Change beneath the image TECK. Study extra about Teck at www.teck.com or comply with @TeckResources.

Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations & Strategic Evaluation
604.699.4621
fraser.phillips@teck.com

Teck Media Contact:
Chris Stannell
Public Relations Supervisor
604.699.4368
chris.stannell@teck.com