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Karora Resources signs agreement to achieve a 20 per cent reduction in GHG emissions by 2030

TORONTO — Karora Resources Inc. has signed a long-term Power Purchase Agreement (PPA), a first step in achieving its initial target to reduce Scope 1 & 2 greenhouse gas (GHG) emissions by 20 per cent by 2030, compared to a 2024 forecasted business-as-usual baseline.

The agreement forms an integral part of Karora’s Environmental, Social and Governance (ESG) strategy which is outlined in Karora’s latest ESG report (2022).

“The release of Karora’s second ESG report was delayed slightly while we finalized a new Power Purchase Agreement. The report is highlighted by this long-term PPA for our Higginsville operations, including required supporting power distribution infrastructure,” said Paul Andre Huet, chairman and CEO. “This is an exciting step for us as the PPA will replace current on-site diesel power generation of 7MW as the primary power source for Higginsville. Once the new PPA is fully implemented in 2025, we expect to realize a significant reduction of 11-13% in Scope 1 & 2 carbon emissions by 2030. The anticipated reduction in carbon emissions represents approximately 40% of our initial targeted 20% Scope 1 and 2 emissions reduction by 2030, placing our goals well within reach.”