Kinross releases 2022 Sustainability and ESG Report
09 Maggio 2023 - 11:00PM
Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the
“Company”) is pleased to announce the publication of its 2022
Sustainability and ESG Report (the “Report”), providing a
comprehensive summary of the Company’s progress over the past year
in furthering its Environmental, Social and Governance (ESG)
strategy.
“Sustainability is a critical component of our business and
every facet of our operations at Kinross,” said J. Paul Rollinson,
President and CEO. “Building on the solid sustainability foundation
we’ve established over three decades, we have updated our ESG
strategy, focusing on three pillars: Workforce and Community,
Natural Capital, and Climate and Energy. We see each pillar as a
key focus area for us, with short and long term performance targets
embedded into our business. Our updated ESG strategy and sharpened
focus will enhance the management of our social and environmental
performance in a transparent, collaborative, and responsible
manner, generating long term value for our stakeholders.”
Kinross’ Sustainability and ESG Report, now in
its 15th year, provides a comprehensive update to the Company’s
stakeholders on the progress made in 2022, and what the Company
aims to achieve in 2023 and beyond. Kinross’ 2022 Sustainability
and ESG Report, available at
https://www.kinross.com/2022-Sustainability-and-ESG-Report/,
details the Company’s approach to responsible mining that underpins
its operational success. The foundation of Kinross’ ESG governance
structure is its core values, commitment to key international
frameworks and standards, and Safety and Sustainability Policy,
which grounds the Company’s First Priorities and its commitment to
environmental stewardship, social responsibility and
governance.
In 2022, Kinross strengthened its oversight of
the ESG function with the establishment of an ESG Executive
Committee, which has taken a leadership role in ESG risk
management, enhanced transparency and reporting, as well as
identifying ESG opportunities within the business. Additionally,
Kinross enhanced its ESG metric in the executive short-term
incentive compensation plan by increasing its weighting from 20% to
25% with the addition of a new ESG initiative metric. This metric
focused on updating the Company’s ESG strategy and diversity action
plan and, in 2023, will focus on the Tasiast solar plant, climate
studies, Kinross’ diversity strategy, and supply chain governance.
The Company believes this is a logical progression as it identifies
performance goals for its key ESG initiatives.
Kinross further enhanced its ESG governance by
obtaining external assurance on our conformance with the
Responsible Gold Mining Principles (RGMP) established by the World
Gold Council. The Company also obtained external assurance on
selected ESG metrics. We continued to strengthen our ESG Governance
with the establishment of a human rights taskforce, which is
developing an action plan for 2023 and beyond.
The Company’s 2022 ESG highlights and
achievements contained in the Report include the
following:
Workforce and Community
- Maintained low injury frequency
rates that were in line with three-year averages and continued to
make improvements across all leading indicators of safety
performance.
- Continued to roll-out Safety
Excellence Program, currently being implemented at Paracatu and La
Coipa following the successful execution of the program at Tasiast
in 2022. The Safety Excellence program focuses on empowering our
people and advancing our performance across all leading indicators
of safety.
- Generated US$2.9 billion in
economic benefits to host countries through taxes, wages,
procurement, and community support. Since 2010, US$44 billion has
been contributed to the economies of Kinross’ host countries.
- Sustained high levels of local
employment with 99% of our workforce and 87% of management from
within host countries.
- Advanced Diversity, Equity, and
Inclusion targets, achieving 13.3% female participation in Kinross’
workforce, the highest level in five years.
- Continued to build open and honest
relationships with Indigenous Peoples in the areas we operate to
understand common interests and how we can work together for mutual
benefit.
Natural Capital
- Maintained record of zero
reportable incidents at our tailings sites for the 30th consecutive
year, with independent reviews conducted at 100% of our sites in
the past three years.
- Enhanced our tailings governance
through increasing our tailings review program from one independent
reviewer to a panel, with three independent reviewers for Paracatu
and two each for the other sites.
- Water intensity declined by 8% from
2021 to 2022, driven by more tonnes processed vs. 2021 and a large
decline in net water storage at Paracatu.
- Completed our 8th year of
partnership with Trout Unlimited, with whom we have implemented
river conservation projects in Alaska, Nevada and Washington
State.
- Continued our efforts to protect
land for conservation, with 13,620 hectares protected at end of
year, most of which at Paracatu.
Climate and Energy
- Introduced first Climate Change
Strategy, which outlines a comprehensive greenhouse gas reduction
plan on our path to net-zero by 2050, setting an
interim target to achieve a 30% reduction of Scope 1 and Scope
2 greenhouse gas emissions intensity (on a per gold equivalent
ounce basis) over the 2021 baseline by 2030.
- Lowered GHG intensity rates in 2022
and the Company is on track towards 2030 target.
- Implemented 11 energy efficiency
projects across global operations, offsetting approximately 1% of
Kinross’ GHG emissions, resulting in US$7.5 million of savings to
the Company.
- Increased percentage of renewable
energy to 22% of our total energy consumed in 2022 compared with
18% in 2021, with 63% of electricity consumed from renewable
sources. At Paracatu and La Coipa, electricity from renewable
sources is 98% and 100% respectively.
Recognition
- Achieved highest S&P ESG Global
rating in 2022, ranking in the 97th percentile, the highest ever
placement for Kinross, improved Sustainalytics risk rating score
with a significant 10-point improvement, and maintained ‘A’
position with MSCI for the third-consecutive year.
- In the Globe and Mail’s annual
ranking for corporate governance among Canadian companies, scored
93 out of 100, making Kinross the top ranked mining company.
- Received the Alaska Miners
Association’s ‘Environmental Stewardship Award’ for best management
practices in environmental protection or restoration initiatives
for the Company’s partnership with Trout Unlimited to create the
Alaska Abandoned Mine Initiative.
- Received the Leadership in
Concurrent Mine Reclamation Award at Bald Mountain for Excellence
in Mine Reclamation from the Nevada Division of Minerals,
Department of Wildlife, Division of Environmental Protection,
Bureau of Land Management, and the U.S. Forest Services.
About Kinross Gold Corporation
Kinross is a Canadian-based global senior gold
mining company with operations and projects in the United States,
Brazil, Mauritania, Chile and Canada. Our focus on delivering value
is based on our core principles of responsible mining, operational
excellence, disciplined growth and balance sheet strength. Kinross
maintains listings on the Toronto Stock Exchange (symbol:K) and the
New York Stock Exchange (symbol:KGC).
Media Contact Victoria BarringtonSenior
Director, Corporate Communicationsphone:
416-369-6469victoria.barrington@kinross.com
Investor Relations ContactChris
LichtenheldtVice-President, Investor Relationsphone:
416-365-2761chris.lichtenheldt@kinross.com
ESG ContactDominic ChannerVice-President,
Community Relations & ESGphone:
416-892-8771dominic.channer@kinross.com
Source: Kinross Gold Corporation
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