Sustaining a global portfolio of long-life assets.
Serving as a catalyst for local economic development through transparent and respectful stakeholder engagement and respecting human rights, and as responsible stewards of the environment – is not only a core value and the right thing to do, it also delivers value throughout the mine lifecycle for our business, shareholders and other stakeholders.
Our Sustainability Strategy. How sustainability fits into the mine lifecycle.
Sustainability risks are business risks, and our strategy focuses on integrating key sustainability considerations – human rights, water, energy and climate change, to name a few – into business decisions. Our sustainability strategy aligns with the three platforms of our business strategy:
Reporting – Transparently reporting on our performance helps us build trust with stakeholders by holding ourselves accountable for results and acknowledging areas for improvement.
Targets – Clear targets challenge us, drive improvement and allow stakeholders to assess our performance in the areas that matter most.
Metrics & Indicators – Metrics and indicators track our performance.
Systems – Efficient and effective management systems improve cross-functional collaboration and drive a consistent approach to risk management across the business.
Strategy, Standards, Procedures – Strategies ensure proactive management of long-term risks, while standards and procedures apply a consistent approach and detail the minimum requirements for fulfilling our commitments. Sites are periodically audited against compliance with standards, and if deficiencies are found, corrective action plans are put in place.
Our global policies – including our Sustainability and Stakeholder Engagement Policy – codify our commitments to stakeholders.
Framework – Implementation of our sustainability strategy requires a framework that connects our foundational policy to supporting strategies, standards and systems as well as carefully selected indicators and metrics.
Three strategic imperatives drive the programs necessary to deliver our sustainability strategy:
Performance – We strive to deliver meaningful, measurable and sustainable environmental, social and governance (ESG) performance over the long term, which also appeals to long-term value investors who believe that ESG performance is reflective of leadership, risk management capacity and responsible business practice.
Social acceptance and reputation – The support of host communities and other key stakeholders is crucial to our success. To help advance the UN Sustainable Development Goals (SDGs), we continued to integrate into key areas of our business those SDGs where we can make the most impact.
Risk management – Identifying and managing our risks and capitalizing on opportunities that deliver shared value to all our stakeholders are essential to achieving our goals. Our Unified Management System (UMS) is a critical tool for managing our risks, and in we completed implementation of the standards and operating procedures that support the overall management and governance of the system.
Understanding the issues that matter most to our stakeholders and our business helps us focus on key risks and opportunities, which in turn improves our reporting and performance.
We evaluate a number of factors to determine the social and environmental priorities discussed in this report. These include the issues that address our values, policies and overall strategy and the most significant impacts, threats and opportunities to our business. We also consider regulatory and voluntary commitments that address current and future challenges for our industry and society as a whole.
Our priorities also reflect our salient human rights issues, which were determined by examining how our business activities can impact human rights throughout the business and life of the mine.
Finally, ongoing and regular feedback from internal and external stakeholders is crucial to understanding the issues that are most important to the business and our stakeholders.