Capricorn Metals Ltd has reported its FY26 greenhouse gas emissions and outlined plans to enhance its climate-related governance and data management. The company’s principal mandatory climate-related target arises through its obligations under the Australian Safeguard Mechanism, with a default prescribed baseline of 100,000 t CO₂-e for the Karlawinda Gold Project (KGP) facility. In FY26, actual gross Scope 1 emissions for the KGP facility were 128,373 t CO₂-e, exceeding the applicable baseline by 28,373 t CO₂-e. Capricorn expects to purchase and surrender Australian Carbon Credit Units (ACCUs) to meet its compliance obligations.
Material actions and disclosures
Capricorn currently manages climate-related risks and opportunities through a combination of operational controls, governance processes, and strategic planning activities. The company’s existing actions include supplier monitoring, procurement planning, fuel contracts, emissions monitoring, and compliance with regulatory requirements. Capricorn also monitors heat management plans, hydration, fatigue management, and work scheduling adjustments during prolonged heat events.
Capricorn measures and reports Scope 1 and Scope 2 greenhouse gas emissions and monitors key operational and regulatory indicators relevant to its climate-related risk profile. The company’s Scope 1 and Scope 2 emissions have been measured using the applicable National Greenhouse and Energy Reporting (NGER) measurement requirements, and emissions calculations use operational activity data, including fuel consumption and purchased electricity.
Forward commitments
Capricorn has not established a formal climate transition plan at the reporting date. Instead, the company’s current focus is on strengthening governance, improving climate-related data, enhancing emissions reporting, and developing a more comprehensive understanding of climate-related financial risks and opportunities. Capricorn expects to complete its Scope 3 inventory to support disclosure from FY27.
Capricorn will continue to review its climate-related disclosures to ensure they remain consistent with applicable reporting standards and stakeholder expectations. The company expects its climate-related disclosures to continue evolving as reporting capability, operational data, and regulatory requirements mature.
Capricorn’s approach to managing climate-related risks and opportunities is embedded within its broader governance and enterprise risk management framework, with climate remaining a standing agenda item for Committee meetings.
Capricorn’s FY26 ESG Report identified the development of a Scope 3 greenhouse gas emissions inventory as a priority for FY26, including the commencement of baseline calculations. While the company has initiated work to support this commitment, Scope 3 emissions have not been disclosed in this reporting period, consistent with the transition relief provisions under AASB S2.