Mining companies have paid scant attention to the Paris climate accord and need to consider more aggressive action to cut greenhouse gas emissions, according to research from global consultants McKinsey & Co.

The report warned of a backlash from investors and society if the mining industry did not take strong action to tackle global warming, including cutting emissions generated during the extraction process and those produced by customers who consume their products, otherwise known as ''Scope 3 emissions''.

“Action on climate change is growing in the mining industry, as companies review commodity portfolios, set targets and engage stakeholders,” McKinsey said. “Yet these actions are too modest to reach the 1.5 to 2 degrees scenario and may not be keeping up with society’s expectations.”

The report warned of a backlash from investors and society if the mining industry did not take strong action to tackle global warming. AP

The biggest mining groups such as BHP, Anglo American and Rio Tinto all signed the Paris Pledge for Action, a commitment to work to support efforts to meet and exceed the ambition of governments to keep the world on a trajectory that limits the global warming temperature rise to less than 2 degrees.

But the McKinsey research found mining groups have only just begun to set targets between a zero and 30 per cent reduction in greenhouse gas emissions by 2030, falling well short of the level required under the Paris accord, according to the report, Climate Risk and decarbonisation: What every mining CEO needs to know.