Climate Policy Engagement Analysis
Climate Lobbying Overview: First Quantum Minerals (First Quantum) has stated that it does not engage on climate change policies. Despite this, the company has expressed some positive positions on the energy transition, however these are limited to top-line statements.
Top-line Messaging on Climate Policy: First Quantum’s top-line communications on climate policy are limited, albeit positive. The company recognized the need to respond to climate change in its Legacy report, published in 2022. The company also acknowledged the link between climate change, land-use change, and the land use sector in the same report. However, First Quantum has not explicitly disclosed its position on the Paris Agreement or the need for government regulation to respond to climate change.
Engagement with Climate-Related Regulations: First Quantum has disclosed that it does not engage on climate change policies. In its 2023 ESG report, published May 2024, First Quantum stated that it remains committed to “not engage in lobbying activities concerning climate change policies.”
Positioning on Energy Transition: The company’s positions on the energy transition are broadly limited to top-line, supportive statements from 2022-2024. For example, in its 2023 ESG report, published May 2024, the company recognized the role of critical minerals in energy transition technologies, and appeared to support the electrification of transport and a transition to renewable energy. Additionally, in its 2022 ESG report, published May 2023, current-CEO Tristan Pascall supported the transition to renewable energy and electric vehicles. However, in a February 2022 earnings call, then COO Tristan Pascall appeared to suggest that coal power is desirable during periods of low energy availability by renewable energy in Panama, “at least in the interim until longer-term solutions are in place”.
Industry Association Governance: First Quantum has not disclosed a list of its industry association memberships in either its corporate reporting or CDP responses, nor has it published a review of its industry associations. The company is however a member of Mining Association of Canada, which has engaged with negative positions on some Canadian climate policy.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q4 2024.