DPM Archives - SustainCase - Sustainability Magazine 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... Mon, 06 Mar 2023 14:32:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How DPM creates economic value for its stakeholders https://sustaincase.com/case-study-how-dpm-creates-economic-value-for-its-stakeholders/ Fri, 16 Dec 2022 07:10:16 +0000 https://ccprowebs.com/new-sustaincase.com/?p=14550 DPM is a Canadian-based international mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. Unlocking resources and generating value to thrive and grow together highlights, for DPM, the imperative to transform the resources that it responsibly extracts from the earth into both a financial return for its investors and sustainable livelihoods for those in the communities in which it operates.  This case study is based on the 2020 Sustainability Report by DPM, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ […]

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

]]> DPM is a Canadian-based international mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. Unlocking resources and generating value to thrive and grow together highlights, for DPM, the imperative to transform the resources that it responsibly extracts from the earth into both a financial return for its investors and sustainable livelihoods for those in the communities in which it operates. 

This case study is based on the 2020 Sustainability Report by DPM, 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 a responsible mining company, DPM seeks to generate a net positive impact from its operations  Tweet This!, achieving a complex balance between how value is generated, distributed and retained through the allocation of capital expenditures, employee wages and benefits, payments to government, community investments and payments to the providers of its capital. In order to create economic value for its stakeholders DPM took action to:

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

What are the material issues the company has identified?  

In its 2020 Sustainability Report DPM identified a range of material issues, such as community health and safety, transparency and reporting, contribution to local development, water management. Among these, creating economic value for its stakeholders stands out as a key material issue for DPM.

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 DPM engages with:

Stakeholder Group
Employees
Investment Community
Governments
Local Communities
Civil Society

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics DPM engaged with its stakeholders through phone and/or personal interviews with national and local stakeholders in Bulgaria (70 complete responses) and Namibia (17 complete responses). Every stakeholder group was well represented by the survey.

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

In its 2020 Sustainability Report DPM reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • DPM seeks to create an environment for its employees to willingly give their best and reach their potential, while taking care of their health, safety and wellbeing. In 2020, DPM paid $93,920 for employee wages and benefits.
  • Creating economic value for the government
  • In 2020, DPM paid $44,530 to the government, including income, mining and other taxes, royalties, license fees, concession fees and land use payments.
  • Creating economic value for providers of capital
  • In 2020, DPM paid $13,933 to providers of capital, including interest paid on long-term debt outstanding.
  • Supporting communities
  • In 2020, DPM spent $4,571 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 DPM, 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://s27.q4cdn.com/486073686/files/doc_downloads/2021/11/03/Sustainability-Report-2020-ANNEXES_Preview.pdf

Note to DPM: 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 DPM creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How DPM promotes employee engagement https://sustaincase.com/case-study-how-dpm-promotes-employee-engagement/ Mon, 13 Apr 2020 09:15:03 +0000 https://ccprowebs.com/new-sustaincase.com/?p=10939 DPM is a Canadian-based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. throughout the year, through departmental meetings, notice boards, grievance procedures, town halls, social media and other employee events. This case study is based on the 2018 Sustainability Report by DPM published on the Global Reporting Initiative Sustainability Disclosure Database 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, […]

The post Case study: How DPM promotes employee engagement appeared first on SustainCase - Sustainability Magazine.

]]> DPM is a Canadian-based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. Employees are one of DPM’s most important stakeholder groups and, accordingly, DPM seeks to engage them regularly and in various ways  Tweet This! throughout the year, through departmental meetings, notice boards, grievance procedures, town halls, social media and other employee events.

This case study is based on the 2018 Sustainability Report by DPM published on the Global Reporting Initiative Sustainability Disclosure Database 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 2018, DPM carried out an employee survey to better understand this key stakeholder group on a variety of topics such as leadership, communication, work environment, and career management. The global participation rate was 61%. In order to promote employee engagement DPM took action to:

  • provide grievance channels
  • promote a culture of open dialogue
  • carry out supplier assessments for social practices

What are the material issues the company has identified?

In its 2018 Sustainability Report DPM identified a range of material issues, such as economic performance, environmental compliance, anti-corruption, local communities, effluents and waste. Among these, promoting employee engagement stands out as a key material issue for DPM.

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 DPM engages with:

Stakeholder Group                Method of engagement
Employees

 

 ·      Annual and periodic salary and performance reviews

·      Training and development opportunities

·      Monthly newsletters and bulletin boards

·      Department group meetings

·      Employee grievance procedures

·      Employee engagement survey

·      Local trade unions with collective bargaining agreements

·      Biennial GRI Sustainability Report

·      Annual Sustainability Data Supplement

·      Corporate website (in English and Bulgarian)

·      Quarterly town hall meetings

·      Corporate announcements and updates

·      Speak Up and Ethics hotline
Investment community ·      Site tours

·      External audits when required

·      Lender-driven action plans

·      Annual Sustainability Report

·      Annual Sustainability Data Supplement

·      Corporate website (in English and Bulgarian)

·      Regulatory filings

·      Quarterly conference calls

·      Attendance at conferences and investor presentations

·      Regular face-to-face meetings
Governments ·      Regular meetings at local and national levels

·      EIA and permitting compliance procedures

·      Extensive local community investment and engagement activities

·      Annual Sustainability Report

·      Annual Sustainability Data Supplement

·      Corporate website (in English and Bulgarian)

·      Senior corporate management engagement at all levels of government

·      Country visits by DPM board of directors
Local communities ·      Fully staffed Community Information Centres

·      Dedicated community relations staff

·      Stakeholder engagement plans

·      Site visits/open doors days

·      Public hearings/ “Town Hall Meetings” to discuss issues

·      Extensive local community investment

·      Local procurement policies

·      External stakeholder grievance procedures

·      Annual Sustainability Report

·      Annual Sustainability Data Supplement

·      Corporate website (in English and Bulgarian)

·      Corporate member of the Devonshire Initiative

·      Visits by senior corporate management and meetings with local community leaders
Civil society ·      Meetings and hosting of site visits

·      Public hearings

·      Annual Sustainability Report

·      Annual Sustainability Data Supplement

·      Corporate website (in English and Bulgarian)

·      Involvement of senior management in select meetings

·      Social media

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics DPM updated its Materiality Assessment focusing on specific topics previously seen as not material, and polled a wide range of internal and external stakeholders, including investors, lenders, corporate and site-based personnel and its Board of Directors.

What actions were taken by DPM to promote employee engagement?

In its 2018 Sustainability Report DPM reports that it took the following actions for promoting employee engagement:

  • Providing grievance channels
  • All DPM employees can communicate their grievances related to labour practices and/ or human rights through DPM’S corporate-wide Speak Up & Reporting Policy, which provides a confidential and anonymous method for reporting. Reports can be made using one of three channels:
    • Report directly to a manager, supervisor or the Human Resources Department;
    • Report through the EthicsPoint hot-line, which is operated by an independent service provider; or
    • Report directly to the Chair of the Audit Committee of the DPM Board of Directors.
  • Contact information for all of the above are available on the DPM website.
  • Promoting a culture of open dialogue
  • DPM has good relations with its employees and trade unions and did not experience any strikes or work stoppages during 2018. However, DPM is constantly looking to improve its processes and procedures regarding human resources, labour practices and appropriate work policies. This is achieved by a culture of open dialogue in general, as well as ongoing dialogue between DPM’s corporate site and human resources teams specifically to address issues that need to be resolved or procedures and processes that need to be improved. Currently, an average of 39% of all employees are covered by trade unions across the company.
  • Carrying out supplier assessments for social practices
  • DPM’s locally managed procurement procedures take into account the cost and quality of goods and services sought, and the labour practice policies of its suppliers. DPM vets all new suppliers through its Third Party Due Diligence (3PDD) process and based on risk, an additional due diligence screening through a global risk intelligence network is completed. DPM recently completed screening on all its current suppliers, and stipulates in its contracts that suppliers must comply with local human rights and labour laws and regulations at a minimum. Human resources policies are incorporated into DPM’s Code of Business and Ethics, site-specific collective labour agreements, and the local labour standards and laws in the countries where DPM

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

The GRI Standards addressed in this case are:

1) Disclosure 407-1 Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk

2) Disclosure 414-1 New suppliers that were screened using social criteria

 

Disclosure 407-1 Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk corresponds to:

  • Sustainable Development Goal (SDG) 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
  • Business theme: Freedom of association and collective bargaining

Disclosure 414-1 New suppliers that were screened using social criteria corresponds to:

  • Sustainable Development Goal (SDG) 5: Achieve gender equality and empower all women and girls
  • Business theme: Workplace violence and harassment
  • Sustainable Development Goal (SDG) 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
  • Business theme: Labor practices in the supply chain
  • Sustainable Development Goal (SDG) 16: Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
  • Business theme: Workplace violence and harassment 

 

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.

FBRH GRI Standards Certified & ISEP recognised Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI Standards Certified & ISEP recognised course you will be taking the first step in gaining the many benefits of sustainability reporting.

 

 

References:

1) This case study is based on published information by DPM, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to DPM: 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 DPM promotes employee engagement appeared first on SustainCase - Sustainability Magazine.

]]>