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Codelco obtains $532m in climate financing

24th July 2024

By: Reuters

  

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SANTIAGO - Chilean State miner Codelco, one of the world's largest copper producers, said on Tuesday it has obtained $532-million in climate financing authorised by french bank Credit Agricole CIB.

The funds will be used to finance its decarbonisation plan, it said, under which it aims to decarbonise 100% of its energy matrix by 2030.

Codelco launched the plan in 2018 when it signed a decarbonised supply contract with energy company Engie ENGIE.PAfor its Chuquicamata site, the company added.

Codelco, which accounts for about 9% of Chile's energy consumption, said the funds will go towards achieving its sustainability targets, which includes renewing electricity supply contracts with renewable energy sources.

Edited by Reuters

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