SUSTAINING A GLOBAL PORTFOLIO OF LONG-LIFE ASSETS
Sustainability
Serving as a catalyst for local economic development through transparent and respectful stakeholder engagement, respecting human rights, and being responsible environmental stewards is not only a core value and the right thing to do, but it also generates value for our company, shareholders, and other stakeholders throughout the mine lifecycle.
How Sustainability Fits into the Mine Lifecycle - Our Sustainability Strategy
Sustainability risks are business risks, and our strategy focuses on incorporating major sustainability factors into business decisions, such as human rights, water, energy, and climate change, to mention a few. Our sustainability approach is aligned with our business strategy's three pillars:
Sustainability Framework
Reporting – By holding ourselves accountable for results and acknowledging areas for growth, transparently reporting on our performance helps us develop trust with stakeholders.
Targets – Clear goals motivate us to be greater, and they allow stakeholders to evaluate our performance in the areas that matter the most.
Metrics & Indicators – Metrics and indicators track our performance.
Systems – Effective management systems increase cross-functional collaboration and drive a consistent risk management approach across the business.
Strategy, Standards, Procedures – Standards and procedures apply a uniform approach and outline the minimal requirements for achieving our promises, while strategies provide proactive control of long-term risks. Sites are audited on a regular basis for conformity with standards, and if any flaws are discovered, corrective action plans are implemented.
Our Global Policies – Company responsibilities to stakeholders are codified in our policies, such as our Sustainability and Stakeholder Engagement Policy.
Framework – Our sustainability strategy must be implemented inside a framework that links our basic policy to supporting strategies, standards, and systems, as well as carefully chosen indicators and measurements.
Strategic Imperatives
Three strategic imperatives drive the programs necessary to deliver our sustainability strategy:
Performance – We aim to provide meaningful, measurable, and long-term environmental, social, and governance (ESG) performance, which appeals to long-term value investors who feel that ESG performance reflects leadership, risk management capacity, and responsible business practice.
Acceptance and reputation – Our success depends on the support of host communities and other essential stakeholders. We continue to put into practice the Sustainable Development Goals (SDGs) through which we have the most impact on critical areas of our business in order to achieve our goals.
Risk management – Identifying and managing our risks, as well as capitalizing on opportunities that provide shared benefit to all of our stakeholders, is critical to our success. Our Unified Management System (UMS) is a crucial instrument for controlling our risks, helping us put in place the standards and operational procedures that support the system's general management and governance.
Our Priorities
Understanding the issues that are most important to our stakeholders and our company allows us to concentrate on the most important risks and opportunities, which enhances our reporting and performance.
To assess the social and environmental priorities, we consider a variety of criteria. These include issues relating to our principles, policies, and general strategy, as well as the most significant business consequences, challenges, and opportunities. We also take into account regulatory and voluntary commitments that address current and future difficulties facing our sector and society.
Our goals also represent the mine's most important human rights issues, which were identified by looking at how our business operations potentially affect human rights over the course of the mine's operation and life.
Finally, continuous and regular feedback from internal and external stakeholders is critical for understanding the issues that matter most to the company and its stakeholders.