Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has an integrated
approach to sustainability to address each of the Environmental,
Social and Governance (ESG) components concurrently, says group
sustainability executive Grant Beringer in the company’s 2021
Sustainability Report published today.
“The challenges of fighting poverty, climate
change and biodiversity loss are deeply connected and we have no
option but to tackle them together, through a holistic and
integrated approach to sustainability management, if we are to make
a lasting, positive impact on any of them,” he says.
“While excellent management of environmental
aspects is critical for sustainable delivery, this only focuses on
one side of the issue. That is why this report has a strong focus
on the ‘silent S’ in ESG, demonstrating that responsible mining is
an enormous lever for delivering social upliftment and
development.”
Barrick achieved a ‘B’ grade for a third
consecutive year in its industry-first Sustainability Scorecard and
recorded significant improvements across most of its key metrics.
Highlights for the year include the certification of all
operational sites to the ISO 45001 and ISO 14001 standards and the
procurement of goods and services worth $1.67 billion from local
suppliers close to Barrick’s operations. In total, $5.5 billion was
spent on host country suppliers, equating to 81% of Barrick’s
global procurement spend. Further details of Barrick’s economic
value contribution, including taxes paid, is included in its
standalone Tax Contribution Report for 2021. Host country nationals
now comprise 96% of its workforce and the group maintained its
downward trend in the Total Recordable Injury Frequency Rate1.
Additionally, approximately $850 million has
been spent or budgeted for renewable energy and greenhouse gas
(GHG) emission reduction projects, all of which meet the company’s
required 15% internal rate of return. The report also contains an
updated GHG Reduction Roadmap, outlining the projects that decrease
emissions against Barrick’s 2018 baseline by at least 30% by 2030
while maintaining a steady production profile, as well as its
course to be Net-Zero by 2050. It also details Barrick’s first-ever
disclosure of its Scope 3 emissions and Scope 3 roadmap to engaging
and assisting its suppliers with their GHG emissions reductions.
Barrick’s water efficiency rate, a measure of the amount of water
it reuses and recycles, was 82% for 2021.
Meanwhile, its new Biodiversity Standard,
focused on driving positive biodiversity outcomes in critically
important areas, has resulted in a significant increase in key
species populations in the Garamba National Park in the Democratic
Republic of Congo near its Kibali Mine. Barrick, through its
partnership with African Parks and the Congolese Institute for the
Conservation of Nature (ICCN), is also the sole sponsor to
reintroduce white rhino to the park in 2022.
“Conserving biodiversity is fundamental to
planetary survival, essential to tackling climate change and has an
important role to play in the war on poverty. We strive not only to
preserve and maintain biodiversity within our permits but to
partner with NGOs and other organizations, to protect and restore
critical biodiversity in some of the world’s most ecologically
sensitive places,” says Beringer.
The latest report is now aligned to the
Sustainability Accounting Standards Board’s (SASB) reporting
requirements for metals and mining and continues to conform to the
Global Reporting Initiative’s ‘GRI Standards: Core option’ as well
as the Task Force on Climate-related Financial Disclosures (TCFD)
framework.
Enquiries:Investor and Media
RelationsKathy du Plessis+44 20 7557 7738Email:
barrick@dpapr.com
Website: www.barrick.com
Endnote 1Total reportable
incident frequency rate (‘TRIFR’) is a ratio calculated as follows:
number of reportable injuries x 1,000,000 hours divided by the
total number of hours worked. Reportable injuries include
fatalities, lost time injuries, restricted duty injuries, and
medically treated injuries.
Cautionary Statement on Forward-Looking
Information Certain information contained or incorporated
by reference in this press release, including any information as to
our strategy, projects, plans or future financial or operating
performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “committed, “vision”,
“target”, “aim”, “roadmap”, “outline”, “plans”, “strive”,
“improvement”, “objective”, “will”, “can” and similar expressions
identify forward-looking statements. In particular, this press
release contains forward-looking statements including, without
limitation, with respect to: Barrick’s sustainability strategy and
vision; Barrick climate strategy and approach to managing climate
risks; Barrick’s greenhouse gas emission reduction targets and
ultimate aim to achieve net zero emissions by 2050, including by
implementing the projects set out in its 2021 Sustainability Report
and engaging with suppliers to reduce Barrick’s Scope 3 emissions;
the estimated capital expenditures required to meet Barrick’s
greenhouse gas emissions reduction targets; Barrick’s
environmental, health and safety, corporate social responsibility
and human rights programs, policies and performance; Barrick’s new
Biodiversity Standard and associated initiatives; and Barrick’s
Sustainability Scorecard and 2021 sustainability performance.
Forward-looking statements are necessarily based
upon a number of estimates and assumptions including material
estimates and assumptions related to the factors set forth below
that, while considered reasonable by the Company as at the date of
this press release in light of management’s experience and
perception of current conditions and expected developments, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements and undue reliance
should not be placed on such statements and information. Such
factors include, but are not limited to: failure to comply with
environmental and health and safety laws and regulations;
non-renewal of key licences by governmental authorities; changes in
national and local government legislation, taxation, controls or
regulations and/or changes in the administration of laws, policies
and practices; expropriation or nationalization of property and
political or economic developments in Canada, the United States and
other jurisdictions in which the Company or its affiliates do or
may carry on business in the future; timing of receipt of, or
failure to comply with, necessary permits and approvals; lack of
certainty with respect to foreign legal systems, corruption and
other factors that are inconsistent with the rule of law; risks
associated with illegal and artisanal mining; risks associated with
new diseases, epidemics and pandemics, including the effects and
potential effects of the global Covid-19 pandemic; damage to the
Company’s reputation due to the actual or perceived occurrence of
any number of events, including negative publicity with respect to
the Company’s handling of environmental matters or dealings with
community groups, whether true or not; risk of loss due to acts of
war, terrorism, sabotage and civil disturbances; litigation and
administrative proceedings; contests over title to properties,
particularly title to undeveloped properties, or over access to
water, power and other required infrastructure; risks associated
with working with partners in jointly controlled assets; employee
relations including loss of key employees; and increased costs and
physical risks, including extreme weather events and resource
shortages, related to climate change. Barrick also cautions that
its 2022 guidance may be impacted by the unprecedented business and
social disruption caused by the spread of Covid-19. In addition,
there are risks and hazards associated with the business of mineral
exploration, development and mining, including environmental
hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins, flooding and gold bullion, copper cathode or
gold or copper concentrate losses (and the risk of inadequate
insurance, or inability to obtain insurance, to cover these
risks).
Many of these uncertainties and contingencies can
affect our actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, us. Readers are cautioned that
forward-looking statements are not guarantees of future
performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements and the
risks that may affect Barrick’s ability to achieve the expectations
set forth in the forward-looking statements contained in this press
release.
We disclaim any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Barrick Gold (TSX:ABX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Barrick Gold (TSX:ABX)
Historical Stock Chart
From Apr 2023 to Apr 2024