What are the material issues the company has identified? 

In its 2021 Integrated Annual Report Polymetal identified a range of material issues, such as health and safety, climate change, waste and pollutants, biodiversity and lands. Among these, creating economic value for its stakeholders stands out as a key material issue for Polymetal.

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 Polymetal engages with:  

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

Stakeholder Group	Method of engagement
Employees	·      Employee satisfaction survey ·      Worker councils and their representatives ·      Internal Hotline, website, intranet and feedback mechanism ·      Meetings and face-to-face communication with management ·      Performance reviews ·      Employee questions to the Group CEO and Board with internally published responses
Communities	·      Grievance mechanisms (telephone, email, etc.) ·      Opinion polls and questionnaires ·      Public hearings ·      In person and online meetings with company representatives, including annual results meetings and site visits ·      Press conferences and Q&As ·      Working groups ·      Corporate disclosure: website, sustainability reports, media
Government/ local authorities	·      Working groups and meetings ·      Direct correspondence ·      Industry conferences
Suppliers, contractors and customers	·      Direct correspondence ·      Contractual relationships ·      Meetings and training ·      Industry conferences
Capital providers	·      Constructive dialogue at the General Meetings ·      Integrated Annual Report ·      Timely information disclosures via corporate website and accredited news agency websites ·      Conferences and Investor days ·      ESG meetings ·      Presentations and conference calls for institutional and individual investors ·      Site visits ·      Direct communication

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

In its 2021 Integrated Annual Report Polymetal reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2021, Polymetal paid $500m for employee wages and salaries.

• Creating economic value for capital providers
• In 2021, Polymetal paid $689m to capital providers.

• Creating economic value for suppliers and contractors
• In 2021, Polymetal paid $555m to suppliers and contractors.

• Creating economic value for the government
• In 2021, Polymetal paid $389m in taxes.

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:

• Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
• Targets: 8.1, 8.2
• Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
• Targets: 9.1, 9.4, 9.5

 

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 Polymetal, 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.polymetalinternational.com/en/investors-and-media/corporate-disclosures/annual-reports/#year-reports

Note to Polymetal: 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.

What are the material issues the company has identified? 

In its 2020 Sustainability Report Polymetal identified a range of material issues, such as climate change, health and safety, waste and pollutants, biodiversity and lands. Among these, promoting sustainability across its supply chain stands out as a key material issue for Polymetal.

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 Polymetal engages with:  

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

Stakeholder Group	Method of engagement
Employees	·      Employee satisfaction survey ·      Worker councils and their representatives ·      Internal hotline, website, intranet and feedback mechanism ·      Meetings and face-to-face communication with management ·      Performance reviews ·      Employee questions to the Group CEO and Board with internally published responses
Communities	·      Grievance mechanisms (telephone, email, etc.) ·      Opinion polls and questionnaires ·      Public hearings ·      In person and online meetings with company representatives, including annual results meetings and site visits ·      Press conferences and Q&As ·      Working groups ·      Corporate disclosure: website, sustainability reports, media, etc.
Government/ local authorities	·      Working groups and meetings ·      Direct correspondence ·      Industry conferences
Suppliers, contractors and customers	·      Direct correspondence ·      Contractual relationships ·      Meetings and trainings ·      Industry conferences
Capital providers	·      Constructive dialogue at the General Meetings ·      Annual and Sustainability Reports ·      Timely information disclosures via corporate website and accredited news agency websites ·      Conferences and Investor days ·      ESG meetings ·      Presentations and conference calls ·      Site visits ·      Direct communication

What actions were taken by Polymetal to promote sustainability across its supply chain?

In its 2020 Sustainability Report Polymetal reports that it took the following actions for promoting sustainability across its supply chain:

• Monitoring suppliers
• An e-procurement system helps Polymetal to enforce its Procurement Policy by applying standards consistently across a large number of contractors. Additional monitoring was introduced at the start of the Covid-19 pandemic to ensure supply continuity. In addition to assessing new suppliers selected via tender, Polymetal regularly assesses current suppliers, regardless of how long it has worked with them. In 2020, Polymetal screened 9,296 new and existing suppliers for compliance with its business ethics policies, 463 of whom were deemed non-compliant and removed from the procurement process. Polymetal is starting to engage more with its suppliers on climate issues and in 2020, started to capture data on GHG emissions for its reporting on product carbon footprint. Polymetal also introduced anti-bribery and human rights clauses in contracts, not only with suppliers, but also with its downstream supply partners.

• Applying environmental criteria to contractors
• Polymetal’s Supplier Code of Conduct extends to environmental expectations, with a focus on service providers working at its sites. Polymetal’s contracts stipulate penalties for noncompliance, especially around packaging, noise, pollution and emergency preparedness. Once a supplier is contracted with Polymetal, it conducts periodic formal assessments and audits for environmental compliance and best practice. In addition, cyanide suppliers and carriers must be certified under the International Cyanide Management Code. All contractors are inducted to Polymetal’s Environmental Management System and are required to demonstrate responsible practices and continual improvement. In 2020, Polymetal audited 88 contractors, with no violations resulting in a significant financial impact on the business.

• Combatting corruption
• As one of its top supply chain risks, Polymetal commits to a strict zero-tolerance approach to bribery, fraud and corruption and has established protective safeguards to support this. Polymetal’s internal audit department monitors the implementation of anti-corruption policies at all sites. A dedicated confidential hotline (email or phone – toll-free in Russia and Kazakhstan with the phone messages being recorded) allows anyone to anonymously report suspicions of corruption, bribery, fraud, human rights violations, harassment, insults, threats, moral and psychological abuse, alcohol or drug intoxication, disclosure or misuse of confidential information and other violations of applicable laws and regulations. Reported concerns are processed by the morning of the following business day. All messages are thoroughly investigated on a confidential basis and without bias. Best efforts are used to uphold anonymity if requested by a whistleblower. In 2020, Polymetal received 25 concerns, three of which were validated after a full investigation; the remainder were found to be either lacking evidence or unrelated to business ethics. Concerns included corruption and corporate conduct. Polymetal raises awareness of bribery and corruption risks and in 2020, delivered 245 seminars for high-risk groups, attended by 7,515 people. Polymetal identified eight instances of corruption over the past year – none of these had any impact on its financial position or operations, and none involved public or government officials.

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

The GRI Standards addressed in this case are:

1) Disclosure 308-1 New suppliers that were screened using environmental criteria

2) Disclosure 308-2 Negative environmental impacts in the supply chain and actions taken

 

Disclosure 308-1 New suppliers that were screened using environmental criteria does not correspond to any SDG.

Disclosure 308-2 Negative environmental impacts in the supply chain and actions taken does not correspond to any SDG.

 

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 Polymetal, 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.polymetalinternational.com/upload/iblock/b02/Polymetal_Sustainability_Report_2020.pdf

Note to Polymetal: 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.

What are the material issues the company has identified?

In its 2016 Sustainability Report Polymetal identified a range of material issues, such as

economic performance, occupational health and safety, procurement practices, anti-corruption, diversity and equal opportunity. Among these, managing waste responsibly stands out as a key material issue for Polymetal.

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 organization should identify its stakeholders, and explain how it has responded to their reasonable expectations.”

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 Polymetal engages with:   

Stakeholder Group	Method of engagement
Investors and shareholders	·      AGM/GM ·      Annual and Sustainability Reports ·      Investor conferences and one-to-one meetings ·      Presentations/conference calls ·      Site visits ·      Direct correspondence
Employees	·      Employee opinion polls and questionnaires ·      Workers’ councils ·      Internal hotline, website, suggestion boxes and grievance mechanisms ·      Meetings and face-to-face communication with management ·      Performance reviews ·      Annual direct line with the Group CEO
Suppliers and contractors	·      Direct correspondence ·      Contractual relationships ·      Meetings and trainings ·      Compliance audits with Polymetal’s requirements with focus on safety
Government and industry authorities	·      Working groups ·      Meetings ·      Direct correspondence ·      Industry conferences
Communities and NGOs	·      Opinion polls and questionnaires ·      Public and face-to-face meetings ·      Communication with Company managers ·      Press conferences ·      Working groups (for NGOs) ·      Grievance mechanisms ·      Email and telephone helplines

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics, Polymetal engaged with its stakeholders through a questionnaire and personal meetings.

What actions were taken by Polymetal to manage waste responsibly?

In its 2016 Sustainability Report Polymetal reports that it took the following actions for managing waste responsibly:

• Reducing harmful materials and waste
• In order to minimise its impact, Polymetal drives efficiency in material use. For example, Polymetal identifies the most harmful materials in its operational processes – such as explosives, drilling parts and mill balls for grinding – and tries to reduce the volumes of these materials, without impacting quality. Polymetal’s audit teams conduct regular internal checks and assess Polymetal’s compliance with national and regional standards, and government agencies carry out regular environmental performance spot-checks at Polymetal’s facilities.

• Recycling waste
• Wherever possible, Polymetal re-uses the waste generated within its operations and has developed systems and procedures that enable it to maximise the amounts recycled, and minimise waste to landfill. Polymetal also finds uses for its waste outside of the company. For example, at Amursk POX Polymetal signed a contract in 2016 with a waste recycling company to provide them with 300 kg of packaging (PE, PP, wood) for incineration and energy production. Where Polymetal can’t recycle or re-use materials, it disposes of them at its own waste facilities or outsources waste disposal to external companies.

• Responsibly handling cyanide
• Polymetal’s production methods involve several harmful consumables among which the largest is cyanide, which generates hazardous waste during the recovery of gold from the ore Polymetal processes. Polymetal is rigorous in its handling, management and monitoring of cyanide, due to its hazardous potential. Polymetal’s approach involves identifying all related hazards, strictly controlling all cyanide levels in its tailings, and monitoring air, soil, surface and ground waters. Polymetal also provides environmental monitoring results to public authorities, and implements environmental protection measures which include the design, construction and monitoring of tailings dams, and the monitoring of water sources and quality, riverbed changes and associated drainage. Additionally, in 2016 Polymetal became signatory to the International Cyanide Management Code, followed by the certification of Amursk POX. To make sure there is no waste, Polymetal always uses 100% of the volumes of cyanide it purchases, and also takes a cautious approach to the transportation of hazardous materials. In 2016, Polymetal did not transport, import or export any waste deemed hazardous under the terms of the Basel Convention 2, Annex I, II, III and VIII.

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

The GRI Standards addressed in this case are:

1) Disclosure 301-2 Recycled input materials used

2) Disclosure 306-2 Waste by type and disposal method

3) Disclosure 306-4 Transport of hazardous waste

 

Disclosure 301-2 Recycled input materials used 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: Materials efficiency
• Sustainable Development Goal (SDG) 12: Ensure sustainable consumption and production patterns
• Business theme: Materials efficiency/recycling

Disclosure 306-2 Waste by type and disposal method corresponds to:

• Sustainable Development Goal (SDG) 3: Ensure healthy lives and promote wellbeing for all at all ages
• Business theme: Spills
• Sustainable Development Goal (SDG) 6: Ensure availability and sustainable management of water and sanitation for all
• Business theme: Waste, Water-related ecosystems and biodiversity
• Sustainable Development Goal (SDG) 12: Ensure sustainable consumption and production patterns
• Business theme: Waste

Disclosure 306-4 Transport of hazardous waste corresponds to:

• Sustainable Development Goal (SDG) 3: Ensure healthy lives and promote wellbeing for all at all ages
• Business theme: Spills
• Sustainable Development Goal (SDG) 12: Ensure sustainable consumption and production patterns
• Business theme: Waste

 

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 Polymetal, 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) http://www.fbrh.co.uk/en/global-reporting-initiative-gri-g4-guidelines-download-page

3) https://g4.globalreporting.org/Pages/default.aspx

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

Note to Polymetal: 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.

What are the material issues the company has identified?

In its 2015 Sustainability Report Polymetal identified a range of material issues, such as economic performance, procurement practices, training and education, local communities, diversity and equal opportunity. Among these, promoting occupational health and safety stands out as a key material issue for Polymetal.

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 organization should identify its stakeholders, and explain how it has responded to their reasonable expectations.”

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 Polymetal engages with:   

Stakeholder Group	Method of engagement
Investors and shareholders	·         AGM/GM ·         Annual and Sustainability Reports ·         Investor conferences and one-to-one meetings ·         Presentations/conference calls ·         Site visits ·         Direct correspondence
Employees	·         Employee opinion polls and questionnaires ·         Workers’ councils ·         Internal hotline, website, suggestion boxes and grievance mechanisms ·         Meetings and face-to-face communication with management ·         Performance reviews ·         Annual direct line with the Group CEO
Suppliers and contractors	·         Direct correspondence ·         Contractual relationships ·         Meetings ·         Compliance with Polymetal’s requirements (for example, health and safety)
Government and industry authorities	·         Working groups ·         Meetings ·         Direct correspondence ·         Industry conferences
Communities and NGOs	·         Opinion polls and questionnaires ·         Public and face-to-face meetings ·         Communication with Company managers ·         Press conferences ·         Working groups (for NGOs) ·         Grievance mechanisms ·         Email and telephone helplines

How stakeholder engagement was made to identify material issues

To identify and prioritize material issues Polymetal engaged stakeholders through a questionnaire, asking them to identify and rank, according to importance, all such issues.

What actions were taken by Polymetal to promote occupational health and safety?

In its 2015 Sustainability Report Polymetal reports that it took the following actions for promoting occupational health and safety:

• Implementing new safety initiatives
• [tweetthis]To enhance occupational health and safety Polymetal developed several new safety initiatives[/tweetthis], including the following:
  • strengthening transport speed control and safety monitoring
  • changing the incentive system in cases where it led to unsafe conduct
  • reviewing the company’s training programmes, focused on key risks
  • visualising risks, consequences and employee conduct in certain situations
  • improving the quality of safety checks and increasing checks by independent external auditors
  • expanding and upgrading the company’s geotechnical capabilities

• Promoting emergency preparedness
• To promote emergency preparedness Polymetal:
  • constantly strengthens its Occupational Health and Safety Management System (OHSMS), which is implemented across all operations
  • makes sure its operations are fully licensed for relevant safety activities
  • conducts safety audits across all buildings, constructions and technical facilities where hazardous activities take place
  • signs obligatory liability insurance agreements to indemnify harm caused by possible accidents in hazardous production facilities

• Providing health and safety training for employees
• In 2015, the following safety courses were offered to Polymetal’s employees:
  • introductory safety courses (1,974 employees)
  • specialised training in internal environmental audit and environmental safety training (1,764 employees)
  • work safety and industrial safety courses, also related to hazardous production risks (1,741 employees)
  • other training and development courses (2,608 employees)

• Preventing occupational diseases
• Every year, all Polymetal employees undergo at least one medical check to assess their health and well-being. In addition, a team of in-house medical professionals continuously monitors employee health and responds to any relevant issues.

Which GRI indicators/Standards have been addressed?

The GRI indicator addressed in this case is: G4-LA6: Type of injury and rates of injury, occupational diseases, lost days, and absenteeism, and total number of work-related fatalities, by region and by gender and the updated GRI Standard is: Disclosure 403-2 Types of injury and rates of injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities

 

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 Polymetal, 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) http://www.fbrh.co.uk/en/global-reporting-initiative-gri-g4-guidelines-download-page

3) https://g4.globalreporting.org/Pages/default.aspx

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

Note to Polymetal: 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.