The activities of mining and metals companies use energy-intensive processes and therefore generate greenhouse gas emissions. To measure how they are adapting to the new global environment that demands a lower carbon footprint, the analyst firm BloombergNEF conducted an assessment of the transition of the business models of the 53 largest companies in this sector in the world.

The assessment measured the risks faced by each company due to their current emissions profile and how they are preparing their businesses for deep decarbonization, considering, for example, the adoption of renewable energy as a source of supply and the incorporation of climate change into management decision-making processes.

The list of the 10 companies with the highest scores is dominated by European firms. There are three exceptions, and one is Chilean: Codelco. The state-owned mining company ranks third on the list. The other non-European firms are India's Tata Steel and Australia's BHP.

The evaluation takes a maximum score of 10 and breaks down the contribution of each factor to the final result. Codelco is in third place, with a score of 6.64.