Teck Resources Limited

InfluenceMap Score
C-
Performance Band
65%
Organisation Score
39%
Relationship Score
Sector:
Metals & Mining
Head​quarters:
Vancouver, Canada
Official Web Site:
Wikipedia:

Climate Lobbying Overview: Teck Resources Limited (Teck) appears to be engaging on climate policy with mixed positions in 2021-2022. The company appears supportive of ambitious action on climate change in its top-line messaging, but has mixed engagement on climate regulations in Canada and still appears to support a sustained role for fossil fuels in the energy mix. Teck is also a member of industry associations actively and negatively engaging on climate policy in the US, including US Chamber of Commerce and National Mining Association.

Top-line Messaging on Climate Policy: The company’s top-line messaging on climate change is broadly positive. On its corporate website, accessed in August 2022, Teck appeared to support the need to limit the global temperature increase to 1.5°C in line with IPCC guidance. The company also supported the 1.5°C goal in its 2021 Sustainability Report, published in March 2022. In its Industry Association Review, published in April 2022, Teck also stated its support for the Paris Agreement and achieving net-zero greenhouse gas emissions by 2050. In its 2021 Sustainability Review, published March 2022, Teck appeared supportive of carbon pricing, but qualified this support by stating that it should “maintain the global competitiveness of trade-exposed industries to prevent carbon leakage”. Teck’s position on other forms of regulation is unclear.

Engagement with Climate-Related Regulations: Teck appears to have mixed engagement with climate-related regulations in Canada, and its transparent engagement on specific regulations in 2022 is limited. In its 2021 CDP response, the company appeared to support some Canadian climate regulations, including a Clean Fuel Standard, Canada's federal climate plan, and Bill C-12 which formalized Canada's net-zero by 2050 goal. However, the company has engaged negatively on a carbon tax in Canada. In its 2021 CDP response, Teck caveated its support for the British Columbia carbon tax by arguing that carbon pricing policies should include mechanisms to protect the competitiveness of emissions-intensive, trade-exposed (EITE) sectors and reduce carbon leakage risks, and also provide compensation for companies which perform best against an emissions benchmark.

Positioning on Energy Transition: Teck appears broadly unsupportive of a shift away from fossil fuels, despite the company expressing positive top-line positions on the energy transition. The company has expressed top-line support for the energy transition in its corporate reporting, for example supporting the transition to a low-carbon economy and the decarbonization of the steel sector in its 2021 Sustainability Report, published in March 2022. However, CEO Donald R. Lindsay has expressed his support towards a continued role for fossil fuels to facilitate the transition of the energy mix on Teck’s corporate website, accessed in August 2022.

In its July 2021 Climate Change Outlook Report, the company also does not appear to support the near-term implementation of green hydrogen into the energy mix, stating that “the technological hurdles associated with producing low-cost hydrogen make near-term adoption highly unlikely”. In the same report, CEO Don R. Lindsay appears to have expressed support for the electrification of transport within the mining industry, however the extent and pace of this transition is ambiguous.

Industry Association Governance: Teck Resources Limited has disclosed a list of industry associations on its company website, as of August 2022, and also published an Industry Association Review in April 2022. The review disclosed the top-line positions of its industry associations on climate policy, and the company’s involvement within the associations. The review found the National Mining Association to be “Not Aligned” with the Paris Agreement. It also found the US Chamber of Commerce to be “Partially Aligned”. While Teck disclosed actions it would take to address these cases of misalignment, the company remains a member of both associations and they continued to engage negatively on US climate policy. The company is also a member of the Mining Association of Canada, which engages on climate change with mixed positions.

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 Q3 2022.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
51%
 
51%
 
51%
 
51%
 
29%
 
29%
 
12%
 
12%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.