2024 Group Sustainability Report

Coronado Global Resources releases its 2024 Sustainability Report, highlighting progress in emissions reduction and alignment with Australian Sustainability Reporting Standards.

Summary

• Coronado Global Resources has released its 2024 Sustainability Report, detailing the company's environmental and social performance.
• The report highlights a 23% reduction in Scope 1 and Scope 2 operational GHG emissions compared to the 2019 baseline year.
• Coronado's wholly owned Australian entity will be required to lodge a Sustainability Report for the year ended 31 December 2025, containing climate-related disclosures prepared in accordance with a specified sustainability framework established under the Australian Sustainability Reporting Standards (ASRS).
• The company commissioned an independent materiality assessment in late 2024 to understand stakeholder requirements for sustainability information.
• Global demand for export met coal is expected to rise to 482 Mt by 2050, with India's export met coal demand forecast to surge by 181% by that year.
• The Curragh complex contributed 9.7 MMt of saleable production for the year ended December 31, 2024.
• Buchanan and Logan contributed a total of 5.7 MMt of saleable production for the year ended December 31, 2024.
• On January 14, 2025, the Company successfully completed the sale of its idled Greenbrier property which formed part of the U.S. Operations.
• The company is developing a group-wide decarbonisation roadmap to prioritize emissions-reduction technologies and opportunities.
• A Power Purchase Agreement (PPA) is in place, linking 50% of Curragh's forecasted electricity supply to a windfarm, set to commence in 2026.
• Coronado's Scope 1 and 2 absolute Group operational GHG emissions were 2.39 mtCO2e in 2024.
• The company is participating in the Caterpillar Pathways to Sustainability program.
• The Mammoth Underground mine also commenced at the Curragh complex at the end of 2024.
• Coronado developed a plan and applied to enter into a five year monitoring period for its Curragh complex under the Safeguard Mechanism, which was approved in early 2025.

Sentiment

Score: 7

Explanation: The report presents a balanced view, highlighting both achievements in emissions reduction and challenges in decarbonizing the steel sector. The company is taking steps to address climate-related risks and opportunities, but faces potential headwinds from market shifts and regulatory changes.

Positives

• Coronado has achieved a 23% reduction in Scope 1 and Scope 2 operational GHG emissions compared to the 2019 baseline year.
• The company is actively engaged in initiatives to lower emissions in both the U.S. and Australia.
• Coronado has a PPA in place to link 50% of Curragh's electricity supply to a windfarm, set to commence in 2026.
• The company is participating in the Caterpillar Pathways to Sustainability program to help with energy transition.
• The Mammoth Underground mine also commenced at the Curragh complex at the end of 2024.
• Coronado developed a plan and applied to enter into a five year monitoring period for its Curragh complex under the Safeguard Mechanism, which was approved in early 2025.

Negatives

• The report acknowledges that fully transitioning away from met coal and decarbonising the steel sector remains challenging due to cost and infrastructure issues.
• The company is considering reviewing its emissions reduction target due to changes in operations since 2019, including the introduction of underground operations at Curragh.

Risks

• Extreme heat events could impact the integrity of fixed infrastructure and cause damage to power supplies.
• Rainfall events could result in flooding, damaging infrastructure and disrupting supply chains.
• Changes in market sentiment and a shift towards low-emission energy alternatives could negatively impact Coronado's reputation and access to finance.
• Increased regulation and compliance obligations could lead to reduced investment and increased operating costs.
• Advancements in low carbon technologies for the energy and steel sectors may lead to lower demand for coal.

Future Outlook

Coronado expects met coal to remain a cornerstone of global steel production and is positioning to meet rising demand. The company is focused on asset optimization, capital management, strategic growth, culture, and safety to maximize long-term shareholder value.

Management Comments

• Coronado remains fully committed to our sustainability principles.
• Our strategy is to maximise and optimise how we use our assets, deliver mine development projects, access new and growing markets, and evaluate expansion and growth opportunities.

Industry Context

The report acknowledges the importance of metallurgical coal in steel production and the growing demand, particularly in India and Southeast Asia. It also addresses the challenges of decarbonizing the steel sector and the potential impact of climate change on mining operations.

Comparison to Industry Standards

• The report aligns with the Australian Sustainability Reporting Standards (ASRS).
• Coronado is participating in the Caterpillar Pathways to Sustainability program, indicating an effort to adopt industry best practices.

Stakeholder Impact

• Shareholders: The company aims to maximize long-term shareholder value through sustainable practices.
• Employees: The company is fostering a culture of teamwork, inclusivity, and accountability, with a focus on safety.
• Customers: Coronado is a reliable supplier of metallurgical coal to the global steel industry.
• Communities: The company aims to be a valued and active member of the local communities in which it operates.
• Suppliers: The company operates fairly and equitably with suppliers.

Next Steps

• Continue development of the group-wide decarbonisation roadmap.
• Implement emissions reduction initiatives at the Curragh complex under the Safeguard Mechanism.
• Monitor and track compliance with regulatory requirements.
• Continue to work with industry bodies and explore funding opportunities.

Key Dates

Keywords

sustainability, metallurgical coal, emissions reduction, climate change, GHG emissions, Coronado Global Resources, met coal