Great Panther 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... Wed, 18 Oct 2023 05:53:37 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How Great Panther creates economic value for its stakeholders https://sustaincase.com/case-study-how-great-panther-creates-economic-value-for-its-stakeholders/ Wed, 18 Oct 2023 05:53:37 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15462 Great Panther Mining Limited is a growing gold and silver mining producer focused on the Americas, owning a diversified portfolio of assets in Brazil, Mexico and Peru. Great Panther seeks to earn and maintain its social acceptance (also known as social license to operate), which in turn supports the creation of sustained value for all of its stakeholders. This case study is based on the 2020 Sustainability Report by Great Panther, 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 […]

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]]> Great Panther Mining Limited is a growing gold and silver mining producer focused on the Americas, owning a diversified portfolio of assets in Brazil, Mexico and Peru. Great Panther seeks to earn and maintain its social acceptance (also known as social license to operate), which in turn supports the creation of sustained value for all of its stakeholders.

This case study is based on the 2020 Sustainability Report by Great Panther, 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. 

In 2020, Great Panther generated $260.8 million in economic value, of which it distributed $205.6 million to its various stakeholders.  Tweet This! In order to create economic value for its stakeholders Great Panther took action to:

  • create economic value for employees
  • create economic value for shareholders
  • 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 2020 Sustainability Report Great Panther identified a range of material issues, such as health and safety, environmental stewardship, community relations, tailings management. Among these, creating economic value for its stakeholders stands out as a key material issue for Great Panther.

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 Great Panther engages with:

Stakeholder Group
Employees and contractors
Local communities
Governments
NGOs
Shareholders and investors
Union
Educational institutions

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Great Panther engaged with its stakeholders through face-to-face and phone interviews at each mine location and its headquarters, as well as an online questionnaire, engaging 801 individuals and organisations from 11 stakeholder groups inside and outside Great Panther’s business, spanning four countries.

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

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

  • Creating economic value for employees
  • In 2020, Great Panther paid $19.6 million in employee salaries and benefits.
  • Creating economic value for shareholders
  • In 2020, Great Panther delivered record mine operating earnings of $84 million ($0.24 per share).
  • Creating economic value for providers of capital
  • In 2020, Great Panther paid $1.9 million to providers of capital.
  • Creating economic value for governments
  • In 2020, Great Panther paid $13 million in taxes to governments.
  • Creating economic value for communities
  • In 2020, Great Panther spent $740,545 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 Great Panther, 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.greatpanther.com/_resources/sustainability/GPR-Eng-Sustainability-Report-2020.pdf?v=0.203

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

]]> Case study: How Great Panther protects biodiversity https://sustaincase.com/case-study-how-great-panther-protects-biodiversity/ Fri, 22 Oct 2021 06:08:23 +0000 https://ccprowebs.com/new-sustaincase.com/?p=12997 Headquartered in Vancouver, Canada, Great Panther is a gold and silver mining company focused on evaluating, acquiring, developing, and producing precious metals from its mining properties in the Americas. , regulatory agencies, and access to land. This case study is based on the 2019 Sustainability Report by Great Panther 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 […]

The post Case study: How Great Panther protects biodiversity appeared first on SustainCase - Sustainability Magazine.

]]> Headquartered in Vancouver, Canada, Great Panther is a gold and silver mining company focused on evaluating, acquiring, developing, and producing precious metals from its mining properties in the Americas. Adopting responsible practices with respect to biodiversity management is increasingly important to Great Panther’s stakeholders and plays a key role in its relationships with local communities  Tweet This!, regulatory agencies, and access to land.

This case study is based on the 2019 Sustainability Report by Great Panther 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

Great Panther’s impacts on natural environments affect areas around its mines. Accordingly, Great Panther is serious about its responsibility to avoid, minimise and comprehensively monitor those impacts. In order to protect biodiversity Great Panther took action to:

  • conduct environmental baseline studies
  • implement biodiversity conservation programmes
  • provide biodiversity training

What are the material issues the company has identified?

In its 2019 Sustainability Report Great Panther identified a range of material issues, such as health and safety of employees and contractors, job creation, relationship with communities, business ethics. Among these, protecting biodiversity stands out as a key material issue for Great Panther.

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 Great Panther engages with:

Stakeholder Group
Employees and contractors
Suppliers
Shareholders and investors
Local communities
Governments
Industry associations
NGOs
Educational institutions
Customers
Analysts

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Great Panther surveyed over 520 people from nearly a dozen stakeholder groups inside and outside its business, spanning four countries. There were face-to-face and phone interviews at each mine location and company headquarters, as well as an online questionnaire.

What actions were taken by Great Panther to protect biodiversity?

In its 2019 Sustainability Report Great Panther reports that it took the following actions for protecting biodiversity:

  • Conducting environmental baseline studies
  • Each of its mine sites is unique, so Great Panther starts with a detailed environmental baseline study to acquire the data needed to recognise and manage changes. This includes identifying the types of ecosystems present and species of flora and fauna and the ecological processes they support. The study allows Great Panther to get to know each mine’s surroundings through the expertise of a multi-disciplinary team of experts. Once they have assessed the area’s specific needs, Great Panther tailors a plan to avoid, minimise, and manage impacts on flora, fauna and their habitat according to local environmental legislation. The study findings also provide timely input into site plans to reduce potentially adverse environmental impacts during the development, operational and closure phases of Great Panther’s mines.
  • Implementing biodiversity conservation programmes
  • Preventing impacts to ecosystems and habitat is more responsible and more cost-efficient than remediating them. To that end, based on its environmental baseline studies, Great Panther creates biodiversity conservation plans to maintain or enhance specific conditions and prevent damage, specific for each site. These include guidelines to avoid water pollution, emission control protocols (air, soil and water) and minimise habitat loss. Great Panther’s biodiversity conservation programmes also include soil erosion prevention and spills prevention technology.
  • Providing biodiversity training
  • When Great Panther identifies a new area of work, it prioritises the conservation of flora and fauna. Great Panther’s biodiversity programmes are guided by local environmental legislation and may include impact mitigation plans, land-use change studies and its associated reports. As employees and contractors begin to work at a new site and each year, they receive biodiversity training that emphasises care, respect and the importance of following Great Panther’s conservation guidelines at and around the site. Additionally, Great Panther is exploring the potential of new technologies to revolutionise biodiversity in mining. This includes using night-vision cameras to identify animals in the forest around Tucano, as well as deploying drones in Mexico and Brazil to monitor the recovery of vegetation. Great Panther also uses a Global Positioning System (GPS) to locate and protect seed-bearing plants and endangered species, in addition to forestry inventory software.

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

The GRI Standards addressed in this case are:

1) Disclosure 304-1 Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas

2) Disclosure 304-2 Significant impacts of activities, products, and services on biodiversity

3) Disclosure 304-3 Habitats protected or restored

4) Disclosure 304-4 IUCN Red List species and national conservation list species with habitats in areas affected by operations

 

Disclosure 304-1 Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas corresponds to:

Disclosure 304-2 Significant impacts of activities, products, and services on biodiversity corresponds to:

Disclosure 304-3 Habitats protected or restored corresponds to:

Disclosure 304-4 IUCN Red List species and national conservation list species with habitats in areas affected by operations 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:

1) This case study is based on published information by Great Panther, 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 Great Panther: 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 Great Panther protects biodiversity appeared first on SustainCase - Sustainability Magazine.

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