Sector: Mining Archives - SustainCase - Sustainability Magazine https://sustaincase.com/category/mining/ Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Wed, 06 Nov 2024 06:58:48 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 Case study: How APC creates economic value for its stakeholders https://sustaincase.com/case-study-how-apc-creates-economic-value-for-its-stakeholders/ Wed, 06 Nov 2024 06:57:59 +0000 https://sustaincase.com/?p=19887 Established in 1956, Arab Potash Company (APC) is the eighth largest potash producer worldwide by volume of production, and the sole producer of potash in the Arab World. This case study is based on the 2022 Sustainability Report by APC, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. Abstract  In 2022, the economic value distributed by APC […]

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]]> Established in 1956, Arab Potash Company (APC) is the eighth largest potash producer worldwide by volume of production, and the sole producer of potash in the Arab World. Creating value for its shareholders, customers, employees and all its other stakeholders, is a top priority for APC.  Tweet This!

This case study is based on the 2022 Sustainability Report by APC, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

In 2022, the economic value distributed by APC reached JOD 818,306 thousand. In order to create economic value for its stakeholders APC took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for governments
  • create economic value for communities

What are the material issues the company has identified?  

In its 2022 Sustainability Report APC identified a range of material issues, such as occupational health and safety, energy, emissions, water and effluent, diversity and equal opportunity. Among these, creating economic value for its stakeholders stands out as a key material issue for APC.

Stakeholder engagement in accordance with the GRI Standards   

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups APC engages with:

To identify and prioritise material topics APC engaged with its stakeholders through the following channels:

Stakeholder Group                Method of engagement
Customers

 

 ·      Customer satisfaction surveys

·      Customer service department feedback discussions

·      Website and social media

·      Sustainability Report
Suppliers

 

 ·      Supplier evaluation process

·      Digital procurement system
Shareholders ·      Investor relations

·      Board of Directors meetings

·      General assemblies

·      Annual Reports / Sustainability Report

·      Website and social media
Employees

 

 ·      Training needs assessment

·      Code of Business Ethics

·      Training and Coaching

·      Performance reviews

·      Whistle-blower and complaints policies

·      Intranet information portal
Local community

 

 ·      Social Responsibility Association

·      Vocational Training Institute

·      Scholarships and internship

·      Donations

·      Website and social media
Regulating parties

 

 ·      Direct contacts

·      Meetings

·      Annual Report

·      Website and social media

What actions were taken by APC to create economic value for its stakeholders?

In its 2022 Sustainability Report APC reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, APC paid JOD 65,461 thousand for employee remuneration.
  • Creating economic value for providers of capital
  • In 2022, APC paid JOD 105,310 thousand to providers of capital.
  • Creating economic value for governments
  • In 2022, APC paid JOD 370,210 thousand to governments.
  • Creating economic value for communities
  • In 2022, APC spent JOD 7,274 thousand in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by APC, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.arabpotash.com/ebv4.0/root_storage/en/eb_list_page/2022_sustainability_report.pdf

Note to APC: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How APC creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Samarco creates economic value for its stakeholders https://sustaincase.com/case-study-how-samarco-creates-economic-value-for-its-stakeholders/ Wed, 30 Oct 2024 06:58:06 +0000 https://sustaincase.com/?p=19847 Samarco Mineração S.A. is a privately held Brazilian company with more than four decades of history and operations focused on the extraction and processing of iron ore and the production of pellets for the global steel industry. in a safe, efficient and innovative manner, today and in the future. This case study is based on the 2021 Sustainability Report by Samarco, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts […]

The post Case study: How Samarco creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Samarco Mineração S.A. is a privately held Brazilian company with more than four decades of history and operations focused on the extraction and processing of iron ore and the production of pellets for the global steel industry. Samarco seeks to optimise the transformation of mineral resources into value for its stakeholders and society  Tweet This! in a safe, efficient and innovative manner, today and in the future.

This case study is based on the 2021 Sustainability Report by Samarco, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

The purpose of carrying out mining differently, with a vision of shared value, is at the heart of Samarco’s business model. In order to create economic value for its stakeholders Samarco took action to:

  • create economic value for employees
  • create economic value for capital providers
  • create economic value for the government
  • create economic value for communities

What are the material issues the company has identified?

In its 2021 Sustainability Report Samarco identified a range of material issues, such as ethics, governance and transparency, community engagement and participation, safe, sustainable and responsible production. Among these, creating economic value for its stakeholders stands out as a key material issue for Samarco.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Samarco engages with: 

Stakeholder Group
Shareholders
Customers
Employees
Executives
Suppliers
Contractors
Research institutions
Government
Community

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Samarco engaged with its stakeholders through online panels, interviews and questionnaire rounds.

What actions were taken by Samarco to create economic value for its stakeholders?

In its 2021 Sustainability Report Samarco reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2021, Samarco paid BRL 259,704.00 for employee salaries and benefits.
  • Creating economic value for capital providers
  • In 2021, Samarco paid BRL 9,526.00 to capital providers.
  • Creating economic value for the government
  • In 2021, Samarco paid BRL 452,225.22 to the government.
  • Creating economic value for communities
  • In 2021, Samarco spent BRL 2,721.69 in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Samarco, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.samarco.com/wp-content/uploads/2022/08/Samarco_-Sustainability-Report-2021.pdf

Note to Samarco: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Samarco creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How IGO creates economic value for its stakeholders https://sustaincase.com/case-study-how-igo-creates-economic-value-for-its-stakeholders/ Wed, 02 Oct 2024 05:59:24 +0000 https://sustaincase.com/?p=19701 IGO Limited is an ASX 100 listed Company focused on creating a better planet for future generations by discovering, developing and delivering products critical to clean energy. This case study is based on the 2022 Sustainability Report by IGO, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. Abstract  As IGO seeks to deliver returns to its shareholders, […]

The post Case study: How IGO creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> IGO Limited is an ASX 100 listed Company focused on creating a better planet for future generations by discovering, developing and delivering products critical to clean energy. IGO is a purpose-led organisation with strong, embedded values and a culture of caring for its people and its stakeholders, generating sustainable value for all.  Tweet This!

This case study is based on the 2022 Sustainability Report by IGO, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

As IGO seeks to deliver returns to its shareholders, it also considers the value creation it can offer to its diverse range of stakeholders, including employees, suppliers and others. In order to create economic value for its stakeholders IGO took action to:

  • create economic value for employees
  • create economic value for the government
  • create economic value for suppliers
  • create economic value for Aboriginal owned or managed businesses
  • create economic value for communities
  • create economic value for Ngadju people

What are the material issues the company has identified?

In its 2022 Sustainability Report IGO identified a range of material issues, such as safety, health & wellbeing of its people, climate change & decarbonisation, governance & risk management, ethics, integrity & behaviours. Among these, creating economic value for its stakeholders stands out as a key material issue for IGO.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups IGO engages with:

Stakeholder Group
Employees
Traditional Owners and neighbouring communities
Suppliers and contractors
Customers
Governments and regulators
Shareholders, investors and analysts
Joint venture partners
Non-government organisations
Special interest groups
Civil society
Learning and research partners
Peers and industry associations
Media

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics IGO engaged with its stakeholders through surveys, interviews and reviews of publicly available materials.

What actions were taken by IGO to create economic value for its stakeholders?

In its 2022 Sustainability Report IGO reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In FY22, IGO paid $ 75.8 million for employee salaries and wages.
  • Creating economic value for the government
  • In FY22, IGO paid $ 215.9 million in tax, state royalties and other government payments.
  • Creating economic value for suppliers
  • In FY22, IGO paid $ 287.4 million to suppliers.
  • Creating economic value for Aboriginal owned or managed businesses
  • In FY22, IGO spent $ 8.0 million on Aboriginal owned or managed businesses.
  • Creating economic value for communities
  • In FY22, IGO spent $ 0.7 million in corporate giving investment.
  • Creating economic value for Ngadju people
  • In FY22, IGO paid $ 6.5 million to Ngadju people.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by IGO, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.igo.com.au/site/pdf/bb31abd5-2374-460e-ada3-96f2cad3abaa/2022-Sustainability-Report.pdf

Note to IGO: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How IGO creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Lundin Mining creates economic value for its stakeholders https://sustaincase.com/case-study-how-lundin-mining-creates-economic-value-for-its-stakeholders/ Wed, 25 Sep 2024 06:05:24 +0000 https://sustaincase.com/?p=19662 Lundin Mining is a diversified Canadian base metals mining company with headquarters in Toronto, Canada, and operations in Brazil, Chile, Portugal, Sweden and the United States of America. , while maintaining balance sheet strength and flexibility to act on compelling growth opportunities. This case study is based on the 2022 Sustainability Report by Lundin Mining, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, […]

The post Case study: How Lundin Mining creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Lundin Mining is a diversified Canadian base metals mining company with headquarters in Toronto, Canada, and operations in Brazil, Chile, Portugal, Sweden and the United States of America. Lundin Mining seeks to deliver shared value for all its stakeholders through effective partnerships and innovation  Tweet This!, while maintaining balance sheet strength and flexibility to act on compelling growth opportunities.

This case study is based on the 2022 Sustainability Report by Lundin Mining, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

In 2022, the total economic value distributed by Lundin Mining reached $ 2,203,478 thousand. In order to create economic value for its stakeholders Lundin Mining took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for governments
  • create economic value for communities

What are the material issues the company has identified?  

In its 2022 Sustainability Report Lundin Mining identified a range of material issues, such as tailings and waste management, GHG emissions, community relations and development, workplace health and safety, water use and efficiency. Among these, creating economic value for its stakeholders stands out as a key material issue for Lundin Mining.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Lundin Mining engages with:

Stakeholder Group                Method of engagement
Local Communities ·      Occasional virtual webinars, trainings and forums

·      Scheduled virtual/ in-person meetings

·      Guided site tours and visits to Community Offices

·      Door-to-door visits

·      Community perceptions surveys – SLO Index

·      Newsletters and social media

·      Annual sustainability summary brochures
Indigenous Peoples

 

 ·      Regular engagement with local indigenous community members regarding identified concerns and opportunities for collaboration
Government

 

 ·      Regular meetings or consultations

·      Implementation of agreements

·       Partnerships
Employees and Contractors

 

 ·      Site-specific Joint Health & Safety Committee (JHSC)

·      Training

·      Safety Culture Perception and Sustainability Surveys

·      Social media

·      Regular newsletter, internal communications and e-mail updates

·      Employee Engagement Surveys
Labour Unions

 

 ·      Collective bargaining (where applicable)

·      One-on-one and group meetings
Non-Governmental Organisations ·      Community collaboration programmes

·      Meetings throughout the year, as needed
Industry Associations/ Regional Business Associations ·      Ongoing membership in industry associations

·      Participation in industry forums, conferences and committees
Suppliers ·      Meetings with local contractors and suppliers

·      Meetings with other contractors and suppliers
Customers ·      Regular contact

·      Environmental, social and governance-related information requests and surveys

·      Engagement on Scope 3 emissions and climate-related initiatives
Local Tax Authorities (Chile) ·      Engagement to identify impacts, risks and needs specific to the community and to align potential opportunities with Lundin Mining’s funding priorities
Investors/ Shareholders ·      Investor/ Industry events and presentations

·      Annual General Meeting of shareholders, Quarterly and Annual Corporate Filings

·      Meetings and email correspondence with analysts, investors and lenders

·      Third-party ESG rating databases (Bloomberg, S&P, etc.)

·      Quarterly analyst conference calls

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Lundin Mining engaged with its stakeholders through interviews.

What actions were taken by Lundin Mining to create economic value for its stakeholders?

In its 2022 Sustainability Report Lundin Mining reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, Lundin Mining paid $ 342,285 thousand for employee benefits.
  • Creating economic value for providers of capital
  • In 2022, Lundin Mining paid $ 287,078 thousand to providers of capital.
  • Creating economic value for governments
  • In 2022, Lundin Mining paid $ 184,039 thousand to governments.
  • Creating economic value for communities
  • In 2022, Lundin Mining spent $ 4,694 thousand in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Lundin Mining, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://lundinmining.com/site/assets/files/9177/2022_sustainability_report_lundin_mining_aoda.pdf

Note to Lundin Mining: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Lundin Mining creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Kinross creates economic value for its stakeholders https://sustaincase.com/case-study-how-kinross-creates-economic-value-for-its-stakeholders/ Fri, 28 Jun 2024 06:02:03 +0000 https://sustaincase.com/?p=19270 Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. This case study is based on the 2022 Sustainability and ESG Report by Kinross, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. Abstract In 2022, Kinross contributed $2.9 billion through payments to governments, procurement, wages […]

The post Case study: How Kinross creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Kinross is focused on delivering sustainable value, based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength.  Tweet This!

This case study is based on the 2022 Sustainability and ESG Report by Kinross, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract

In 2022, Kinross contributed $2.9 billion through payments to governments, procurement, wages and benefits and community investments in its operating jurisdictions. In order to create economic value for its stakeholders Kinross took action to:

  • create economic value for employees
  • create economic value for shareholders
  • create economic value for suppliers
  • create economic value for governments
  • create economic value for communities

What are the material issues the company has identified? 

In its 2022 Sustainability and ESG Report Kinross identified a range of material issues, such as ethics and transparency, health and safety, climate change and energy, diversity, equity and inclusion. Among these, creating economic value for its stakeholders stands out as a key material issue for Kinross.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Kinross engages with:

To identify and prioritise material topics Kinross engaged with its stakeholders through the following channels:

Stakeholder Group                Method of engagement
Employees

 

 ·      Monthly H&S calls with all sites to share learnings

·      Employee surveys (targeted, site- and regionally-specific)

·      Webinars

·      Direct meetings

·      Biannual CEO “Town Halls” and special topics

·      Kinross World online employee publication (five languages)

·      Email announcements

·      Videos
Investors, shareholders, rating agencies, lenders, and analysts

 

 

 ·      Direct meetings (in-person and virtual)

·      Investor Conferences

·      Investor calls

·      Annual Meeting

·      News releases

·      Website

·      Social media
Host communities

 

 ·      Planned stakeholder engagements with local community organisations and local authorities

·      Broad community engagement

·      Local community investments, partnerships and sponsorships

·      Grievance resolution mechanism

·      Early consultation for planned projects
Media

 

 ·      Provision of timely information through news releases, website and social media channels

·      Interviews

·      Communications via phone and email

·      Regulatory filings and other corporate publications
Governments and regulators

 

 ·      Regulatory submissions

·      Submitting information requests

·      Public consultations

·      Ongoing meetings and individual communications and correspondence

·      Participation in events, roundtables, and other forums

·      Collaboration on joint campaigns, programmes

·      Dispute resolution and dialogue tables

·      Site tours

·      Information requests
Insurers ·      Direct meetings (in-person and virtual)
Refiners

 

 ·      To assist with the Responsible Sourcing Program, provision of updates to Know Your Client (KYC) forms to refiners and access for refiners to perform due diligence site visits
Suppliers and contractors

 

 ·      Key supplier performance reviews

·      Technology discussions with original equipment manufacturers

·      Forecasts, inventories, supply capabilities, allocations and constraints

·      Consultation and supplier participation in strategic cost savings programmes

·      RFPs and new business opportunities

·      Risks and mitigation plans
NGOs, multinational organisations, think tanks and civil society

 

 ·      Workshops

·      Surveys

·      Joint projects

·      Working groups

What actions were taken by Kinross to create economic value for its stakeholders?

In its 2022 Sustainability and ESG Report Kinross reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, Kinross paid $681.9 million for in-country employee wages.
  • Creating economic value for shareholders
  • In 2022, Kinross paid $455 million to shareholders.
  • Creating economic value for suppliers
  • In 2022, Kinross paid $2,165.6 million to in-country suppliers and $480.1 million to out-of-country suppliers.
  • Creating economic value for governments
  • In 2022, Kinross paid $344.6 million to governments.
  • Creating economic value for communities
  • In 2022, Kinross spent $8.9 million in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Kinross, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://s2.q4cdn.com/496390694/files/doc_downloads/2023/ESG/updated/Kinross-2022-Sustainability-and-ESG-Report.pdf

Note to Kinross: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Kinross creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Newmont creates economic value for its stakeholders https://sustaincase.com/case-study-how-newmont-creates-economic-value-for-its-stakeholders/ Wed, 26 Jun 2024 06:09:05 +0000 https://sustaincase.com/?p=19255 Newmont is the world’s leading gold company and a producer of copper, silver, lead and zinc. Recognised for its commitment to environmental, social and governance (ESG) practices, Newmont is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. This case study is based on the 2022 Sustainability Report by Newmont, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and […]

The post Case study: How Newmont creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Newmont is the world’s leading gold company and a producer of copper, silver, lead and zinc. Recognised for its commitment to environmental, social and governance (ESG) practices, Newmont is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise.

This case study is based on the 2022 Sustainability Report by Newmont, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract

In 2022, the economic value distributed by Newmont reached $11,072.14 million.  Tweet This! In order to create economic value for its stakeholders Newmont took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for governments
  • create economic value for communities

What are the material issues the company has identified?

In its 2022 Sustainability Report Newmont identified a range of material issues, such as business integrity and compliance, climate change, health, safety and security, human rights, water stewardship. Among these, creating economic value for its stakeholders stands out as a key material issue for Newmont.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Newmont engages with:

Stakeholder Group                Method of engagement (Inform)
Business partners (e.g., joint ventures, strategic business partners)

 

 ·      Terms of agreements

·      Annual and quarterly reports

·      Regulatory filings

·      Regular meetings and communications via telephone, email, website and mailings
Employees

 

 ·      Employee assistance programmes (e.g., guidance resources)

·      Collective bargaining/contracts

·      Leadership coaching

·      Training and development programmes

·      Integrity Helpline

·      Conversations between managers and employees

·      Performance feedback

·      Engagement surveys

·      Town hall meetings with the CEO and other leaders

·      Manager learning series training

·      Online training

·      Newsletters

·      Employee-led business resource groups

·      Employee communications channels
Government and regulatory bodies

 

 ·      Regulatory filings

·      Responses to requests for information

·      Participation in events and forums

·      Collaboration on government/industry campaigns and programmes

·      Public advisory processes

·      Dispute mediation and dialogue tables

·      Tours of operations and site visits

·      Meetings and personal communications
Host communities

 

 ·      Participation in social and environmental assessments

·      Socioeconomic programmes

·      Foundations and funds

·      Complaints and grievance mechanisms

·      Forums

·      Conferences

·      Site visits

·      Surveys

·      Community development committees and boards

·      Participatory monitoring

·      Meetings and personal communications
Media

 

 ·      Press releases

·      Interviews

·      Regulatory filings

·      Presentations

·      Publications

·      Site visits

·      Editorial board meetings

·      Communications via phone and email

·      Company website and social media channels
Non-governmental organisations (NGOs), multinational organisations and civil society

 

 ·      Social/community/other assessments

·      Participation in multi-stakeholder initiatives and global working groups for developing disclosure standards

·      Strategic partnerships

·      Forums

·      Conferences

·      Participation in thought-leadership panels and advisory councils

·      Questionnaires

·      Meetings and personal communications
Peers and industry associations

 

 ·      Active participation as members and on boards or other leadership assignments

·      Conferences

·      Engagement through business bodies and industry-wide initiatives

·      Meetings and personal communication
Shareholders, investors and analysts

 

 ·      Annual and quarterly reports

·      Regulatory filings

·      Investor conferences

·      Annual general meeting

·      Investor roadshows

·      Credit rating agency engagement

·      Tours of operations and site visits

·      Analyst days

·      Regular meetings and communications via telephone, email, website and mailings
Suppliers/ contractors

 

 ·      Contract negotiations

·      Supplier Risk Management programme

·      Participation in contractor safety programmes and continuous improvement initiatives

·      Social responsibility partnerships

·      Meetings and personal communications

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Newmont engaged with its stakeholders through interviews.

What actions were taken by Newmont to create economic value for its stakeholders?

In its 2022 Sustainability Report Newmont reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, Newmont paid $1,500.75 million for employee wages and benefits.
  • Creating economic value for providers of capital
  • In 2022, Newmont paid $2,032.19 million to providers of capital.
  • Creating economic value for governments
  • In 2022, Newmont paid $1,531.69 million to governments.
  • Creating economic value for communities
  • In 2022, Newmont spent $67.65 million in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Newmont, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://s24.q4cdn.com/382246808/files/doc_downloads/2022/sustainability/newmont-2022-Annual-Sustainability-Report.pdf

Note to Newmont: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Newmont creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Centamin creates economic value for its stakeholders https://sustaincase.com/case-study-how-centamin-creates-economic-value-for-its-stakeholders/ Fri, 21 Jun 2024 06:03:12 +0000 https://sustaincase.com/?p=19240 Centamin is an established gold producer, committed to developing resources in a way that protects and empowers people, respects human rights, fosters socio-economic development and safeguards the environment. Centamin contributes to the wealth and prosperity of the countries, regions and communities where it operates by generating long-term, sustainable socio-economic value. This case study is based on the 2022 Sustainability Report by Centamin, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important […]

The post Case study: How Centamin creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Centamin is an established gold producer, committed to developing resources in a way that protects and empowers people, respects human rights, fosters socio-economic development and safeguards the environment. Centamin contributes to the wealth and prosperity of the countries, regions and communities where it operates by generating long-term, sustainable socio-economic value.

This case study is based on the 2022 Sustainability Report by Centamin, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract

In 2022, Centamin’s direct economic contributions totalled US$848 million.  Tweet This! In order to create economic value for its stakeholders Centamin took action to:

  • create economic value for employees
  • create economic value for capital providers
  • create economic value for the government
  • create economic value for communities

What are the material issues the company has identified?

In its 2022 Sustainability Report Centamin identified a range of material issues, such as workforce health and safety, emissions, anti-corruption, market presence, environmental compliance. Among these, creating economic value for its stakeholders stands out as a key material issue for Centamin.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Centamin engages with:

Stakeholder Group                Method of engagement (Inform)
Employees ·      Daily pre-shift and toolbox meetings

·      Routine management review meetings

·      Quarterly risk and HSES reviews

·      Performance appraisals

·      Training and skill development

·      Grievance mechanism and whistleblowing platform

·      Bulletins, intranet and notice boards

·      Social and cultural events
Government ·      Formal and informal engagement with government agencies and regulators

·      Routine site visits and regulatory inspections

·      Budgets and operational reports

·      Audits and assurance

·      Payments to government – profit share, royalties, licence fees and taxes
Communities ·      Formal and informal engagement with community leaders

·      Community investment and development planning

·      Community perceptions survey

·      Community grievance mechanism

·      Social and cultural events
Shareholders ·      Regulatory announcements and press releases on material performance, including quarterly operational and sustainability reporting and biannual financial reporting

·      Regular market presentations, investor conferences and open market dialogue

·      AGM and one-on-one meetings

·      Annual and regulatory reports

·      Engagement with proxy advisory groups and shareholder stewardship teams
Suppliers, contractors &refiner ·      Open dialogue and regular meetings with onsite management teams

·      Routine contract review and compliance checks

·      Supply chain due diligence

·      Training, site inspections and felt leadership

·      Tendering and procurement procedures
Environment ·      Environmental baseline studies and impact assessment

·      Environmental impact mitigation, monitoring and assurance

·      Partnerships with community-based organisations and research institutes

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Centamin engaged with its stakeholders through a survey.

What actions were taken by Centamin to create economic value for its stakeholders?

In its 2022 Sustainability Report Centamin reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, Centamin paid US$66 million in employee wages and benefits.
  • Creating economic value for capital providers
  • In 2022, Centamin paid US$45,7 million to capital providers.
  • Creating economic value for the government
  • In 2022, Centamin paid US$62 million in profit share, royalties, taxes and other payments to government.
  • Creating economic value for communities
  • In 2022, Centamin spent US$0.60 million in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Centamin, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.centamin.com/media/2969/cey_sr22_sustainabilityreport_final_250423.pdf

Note to Centamin: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Centamin creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Newcrest creates economic value for its stakeholders https://sustaincase.com/case-study-how-newcrest-creates-economic-value-for-its-stakeholders/ Wed, 19 Jun 2024 06:05:44 +0000 https://sustaincase.com/?p=19228 Newcrest is the largest gold producer listed on the Australian Securities Exchange and one of the world’s largest gold mining companies. Newcrest seeks to include affected stakeholders in decisions and understand their viewpoint with an engagement approach tailored to each stakeholder group, creating sustainable value for all. This case study is based on the 2022 Sustainability Report by Newcrest, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy […]

The post Case study: How Newcrest creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Newcrest is the largest gold producer listed on the Australian Securities Exchange and one of the world’s largest gold mining companies. Newcrest seeks to include affected stakeholders in decisions and understand their viewpoint with an engagement approach tailored to each stakeholder group, creating sustainable value for all.

This case study is based on the 2022 Sustainability Report by Newcrest, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract

Generating, through its operations, long-term value for employees, communities and all its stakeholders, is a top priority for Newcrest.  Tweet This! In order to create economic value for its stakeholders Newcrest took action to:

  • create economic value for employees
  • create economic value for governments
  • create economic value for communities

What are the material issues the company has identified?

In its 2022 Sustainability Report Newcrest identified a range of material issues, such as climate change, human rights, transparent and ethical business, diversity and inclusion. Among these, creating economic value for its stakeholders stands out as a key material issue for Newcrest.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Newcrest engages with: 

Stakeholder Group                Method of engagement (Inform)
Employees and contractors ·      Employee briefings

·      Intranet

·      Email

·      Newsletters

·      Social events

·      Notice boards

·      Departmental site and toolbox meetings

·      Performance reviews

·      Town hall meetings

·      Organisational Health survey
Local Communities ·      Community Relations team visits

·      Resident and community meetings

·      Site visits/tours

·      Communication and feedback forums

·      Dedicated communication contacts

·      Environmental and social impacts complaints and grievance mechanisms

·      Sponsorships and partnerships

·      Collaborative agreements

·      Media engagement on local initiatives

·      Community newsletters

·      Factsheets

·      Websites & social media
Shareholders ·      Annual Reports

·      Annual General Meeting

·      Half-yearly financial reporting

·      Quarterly production and exploration reports

·      Website and email

·      Investor briefings

·      Investor days

·      Meetings

·      Conference calls

·      Market announcements

·      Conferences and social media
Government and regulators ·      Department meetings

·      Regular briefings by telephone and email

·      Website and social media publications
Suppliers ·      Collaborative guidelines

·      Out-to-market approaches

·      Meetings

·      Contractual agreements and questionnaires
Customers ·      Market tenders

·      Meetings

·      Reports

·      Conference engagement

·      Site visits
Industry ·      Industry forums

·      Conference engagement

·      Working groups and committees

·      Email

·      Internet portals

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Newcrest engaged with its stakeholders through interviews.

What actions were taken by Newcrest to create economic value for its stakeholders?

In its 2022 Sustainability Report Newcrest reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In FY22, Newcrest paid $530 million for employee benefits.
  • Creating economic value for governments
  • In FY22, Newcrest paid $406 million in income taxes and other payments to governments.
  • Creating economic value for communities
  • In FY22, Newcrest spent $50 million in community expenditures.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Newcrest, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.newcrest.com/sites/default/files/2022-11/221107_Newcrest%202022%20Sustainability%20Report_0.pdf

Note to Newcrest: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Newcrest creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Pan American Silver creates economic value for its stakeholders https://sustaincase.com/case-study-how-pan-american-silver-creates-economic-value-for-its-stakeholders/ Fri, 14 Jun 2024 06:01:32 +0000 https://sustaincase.com/?p=19209 Pan American Silver is a leading producer of precious metals in the Americas, operating silver and gold mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. Pan American Silver’s core business activities generate economic value for all its stakeholders at the international, national, regional and community levels, both directly and indirectly. This case study is based on the 2022 Sustainability Report by Pan American Silver, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying […]

The post Case study: How Pan American Silver creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Pan American Silver is a leading producer of precious metals in the Americas, operating silver and gold mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. Pan American Silver’s core business activities generate economic value for all its stakeholders at the international, national, regional and community levels, both directly and indirectly.

This case study is based on the 2022 Sustainability Report by Pan American Silver, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract

In 2022, the economic value distributed by Pan American Silver reached $1,658 million.  Tweet This! In order to create economic value for its stakeholders Pan American Silver took action to:

  • create economic value for employees
  • create economic value for suppliers
  • create economic value for governments
  • create economic value for providers of capital
  • create economic value for communities

What are the material issues the company has identified?  

In its 2022 Sustainability Report Pan American Silver identified a range of material issues, such as business ethics, health and safety, biodiversity, inclusion and diversity, water stewardship. Among these, creating economic value for its stakeholders stands out as a key material issue for Pan American Silver.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Pan American Silver engages with:

Stakeholder Group                Method of engagement
Employees

 

 ·      Meetings and lineouts

·      Face-to-face interactions

·      Email, chats, and internal communications

·      Social media links

·      Lunch and learn sessions

·      Conferences

·      Training

·      Negotiations with Worker Unions

·      Internal memorandums and communications

·      Grievance mechanisms

·      Engagement surveys

·      Website
Contractors

 

 ·      Meetings and lineouts

·      Face-to-face interactions

·      Email and internal communications

·      Lunch and learn sessions

·      Conferences

·      Training

·      Negotiations with Worker Unions

·      Internal memorandums and communications

·      Grievance mechanisms

·      Engagement surveys
Investors

 

 ·      Annual ESG Call

·      Quarterly calls

·      Quarterly and annual reporting

·      Roadshows

·      Conferences

·      Meetings, phone calls and emails

·      Engagement surveys

·      Website

·      Annual shareholder meeting
Community members and Indigenous groups

 

 

 ·      Community offices

·      Face-to-face meetings

·      Response mechanisms

·      Community roundtables

·      Engagement surveys

·      Site visits

·      Newsletters

·      Radio and other media

·      Grievance mechanisms

·      Consultations

·      Website and annual sustainability report
Religious groups

 

 ·      Community offices or churches

·      Face-to-face meetings

·      Response mechanisms

·      Community roundtables

·      Engagement surveys

·      Grievance mechanisms

·      Website and annual sustainability report
Government

 

 ·      Community partnership meetings

·      Face-to-face meetings

·      Conferences

·      Public meetings

·      Newsletters

·      Consultations

·      Negotiations with Worker Unions

·      Audits and inspections

·      Engagement surveys

·      Website and annual sustainability report
NGOs

 

 ·      Public meetings

·      Response Mechanism

·      Conferences

·      Partnership discussions

·      Engagement surveys

·      Website
Human Rights Observers

 

 ·      Meetings

·      Face-to-face interactions

·      Engagement surveys

·      Website

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Pan American Silver engaged with its stakeholders through a survey among 2,264 stakeholders.

What actions were taken by Pan American Silver to create economic value for its stakeholders?

In its 2022 Sustainability Report Pan American Silver reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, Pan American Silver paid $312 million for employee wages.
  • Creating economic value for suppliers
  • In 2022, Pan American Silver paid $440 million for local and regional procurement and $513 million for national procurement.
  • Creating economic value for governments
  • In 2022, Pan American Silver paid $195 million to governments.
  • Creating economic value for providers of capital
  • In 2022, Pan American Silver paid $101 million to providers of capital.
  • Creating economic value for communities
  • In 2022, Pan American Silver spent $15 million in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Pan American Silver, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.panamericansilver.com/wp-content/uploads/2023/05/PAS-Sustainability-Report-2022.pdf

Note to Pan American Silver: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Pan American Silver creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Vale creates economic value for its stakeholders https://sustaincase.com/case-study-how-vale-creates-economic-value-for-its-stakeholders/ Fri, 17 Nov 2023 06:59:12 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15546 Originally established on June 1, 1942 as the state-owned Companhia Vale do Rio Doce, Vale became a private company ranking among the largest miners in the world, with operations in approximately 30 countries. This case study is based on the 2021 Sustainability Report by Vale, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.  Vale is committed […]

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]]> Originally established on June 1, 1942 as the state-owned Companhia Vale do Rio Doce, Vale became a private company ranking among the largest miners in the world, with operations in approximately 30 countries. Minimising its environmental impacts and bringing optimum value to all its stakeholders is a top priority for Vale.  Tweet This!

This case study is based on the 2021 Sustainability Report by Vale, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. 

Vale is committed to listen, learn and work closely with its stakeholders, generating sustainable value for all. In order to create economic value for its stakeholders Vale took action to:

  • create economic value for employees
  • create economic value for the government
  • create economic value for communities

What are the material issues the company has identified?

In its 2021 Sustainability Report Vale identified a range of material issues, such as business ethics, occupational health and safety, water and effluents, diversity and equal opportunity. Among these, creating economic value for its stakeholders stands out as a key material issue for Vale.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Vale engages with:

Stakeholder Group
Employees, Company Leaders, Contractors
Community, Formal Leader, Informal Leader
Government and Private Companies, Local Government, Central Government, TNI/Polri, Investors, Customer, Suppliers and Partners, Public

Sector
Observers, Media, Academicians, NGOs, Other Entities
Local Communities

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Vale engaged with its stakeholders through surveys.

What actions were taken by Vale to create economic value for its stakeholders?

In its 2021 Sustainability Report Vale reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2021, Vale paid US$ 84,881 thousand for employee salaries and allowances.
  • Creating economic value for the government
  • In 2021, Vale paid US$ 142,966 thousand to the government.
  • Creating economic value for communities
  • In 2021, Vale spent US$ 4,892 thousand in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

This case study is based on published information by Vale, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

http://www.vale.com/indonesia/EN/aboutvale/sustainability/Pdfs/2021-Sustainability-Report-PT-Vale-Indonesia-Tbk-EN.pdf

Note to Vale: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Vale creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

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