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Soaring coal and metal prices powered Swiss mining and trading firm Glencore to a net income of $5 billion in 2021, a notable recovery from its $1.9 billion loss in 2020. Yet the firm's lucrative returns from polluting industries raise questions about how it will reach its goal of net-zero emissions by 2050. Glencore is contributing to the green-energy transition in other ways—for example, by selling metals and key battery components to manufacturers of EVs and solar panels. But legal troubles have dogged Glencore: In February 2021, it announced plans to pay $1.5 billion in 2022 to settle longstanding multinational bribery probes, and it entered guilty pleas on those matters in the U.S., the U.K., and Brazil in May 2022.
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