Kinross releases 2021 Sustainability Report
May 10 2022 - 5:25PM
Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the
“Company”) is pleased to announce the publication of its 2021
Sustainability Report (the “Report”), providing a fulsome and
transparent summary of the Company’s progress over the past year in
furthering its Environmental, Social and Governance (ESG) strategy.
“Sustainability and mining responsibly are at
the core of Kinross’ culture and we believe that to be successful
in this area you need a strong on-the-ground approach along with a
clear strategy and strong governance,” said J. Paul Rollinson,
President and CEO. “Over the past year, we continued to perform
well in major external ESG rankings and ratings and have made
significant progress advancing our ESG goals. Kinross is committed
to ensuring ESG continues to be at the core of our business and
recognizes that we need to focus our efforts on material ESG topics
which are key to both our Company and our stakeholders.”
Kinross’ 2021 Sustainability Report, available
at www.kinross.com/2021-Sustainability-Report,
details the Company’s approach to responsible mining, which is
inseparable from its operational success. The foundation of
Kinross’ ESG governance structure is its values and Safety and
Sustainability Policy, which enshrines the Company’s First
Priorities and its commitment to environmental stewardship, social
responsibility and governance.
In 2021, Kinross enhanced its ESG oversight by
updating the charter of the Board Corporate Responsibility and
Technical Committee and established an ESG Executive Committee that
reports to the Company’s Senior Leadership Team and to the Board on
a quarterly basis. Further, in 2022 Kinross’ Senior Leadership
Team’s short-term incentive compensation plan was enhanced to
reflect two additional objectives linked to ESG strategy and
diversity, and the weighting has increased to 25% from 20%.
Kinross obtained independent limited assurance
of selected ESG performance metrics and, following its normal
practice, have reported in alignment with the Global Reporting
Initiative (GRI) and Sustainability Accounting Standards Board
(SASB) frameworks. The Company is working on its 2021 Task Force on
Climate-Related Financial Disclosures (TCFD) Climate Report, which
is scheduled for publication in Q2 2022. Kinross remains on track
regarding conformance with the Responsible Gold Mining Principles
and expects to complete external assurance in 2022.
Highlights from the Report, which is structured
in line with Kinross’ Safety and Sustainability Policy,
include:
Act Ethically and
Transparently
- Completed the assessment of
approximately 98% of Tier 1 suppliers at operating sites since the
launch of an updated supply chain due diligence process
- Maintained top-tier
governance record and was the highest ranked gold mining
company in the Globe and Mail’s annual governance review.
- Reported zero substantiated cases
of corruption or bribery.
Do No Harm
- Overall safety
performance remained in line with three-year averages, but was
overshadowed by a fatal accident at the Chirano mine in Ghana and a
serious mill fire at Tasiast. As a result of these incidents and
other near-incidents, the Company has undertaken numerous steps to
improve safety culture, with a strong focus on people and their
individual and collective responsibility.
- Recorded over 96,000 stakeholder
interactions, which represents approximately 17% of the local area
populations around our sites, with positive feedback 17 times
greater than negative.
- Efficient use of water with 80% of
water recycled at operating mine sites.
- Maintained record of zero
tailings breaches for the 29th consecutive year.
- Announced the target of a 30%
reduction in intensity of Scope 1 and Scope 2 greenhouse gas (GHG)
emissions by 2030, over the 2021 baseline, and to have net-zero GHG
emissions by 2050.
- Together with Trout Unlimited,
established the Alaska Abandoned Mine Restoration Initiative and
started its first project at Resurrection Creek, an area affected
by historical placer mining.
- Reclaimed more than 100 hectares of
land during 2021 and in Paracatu, saw the return of endemic fauna
in reclaimed areas.
Make a Positive
Contribution
- Generated $3.5 billion in
economic benefits (Kinross’ “benefit footprint”)
to host countries through taxes, wages, procurement and community
support. Since 2010, the Company has contributed more than $40
billion to the economies of host countries.
- Advanced inclusion and
diversity targets including instituting a Global Inclusion
and Diversity Leadership Council, maintaining 33% female
representation of Board members, and started a “Women in Mining:
Peer Networking Program” connecting women across the Company.
- Achieved record high levels of
local employment with 99% of total workforce and
92% of managers from within host countries.
- Supported community
programs that reached approximately 1,000,000
beneficiaries.
- Sourced 84% of goods and services
in country, working with approximately 6,000 suppliers
globally.
The Company continued to mitigate the impacts of
COVID-19 on its operations, prioritizing the health and safety of
its employees. Access to vaccinations was facilitated for both
employees and host communities, and a broad-based testing strategy
for sites was implemented in line with regional and government
guidelines.
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, Canada, Russia and Ghana. 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 Louie DiazVice-President,
Corporate Communicationsphone:
416-369-6469louie.diaz@kinross.com
Investor Relations ContactChris Lichtenheldt
Vice-President,
Investor
Relations phone:
416-365-2761 chris.lichtenheldt@kinross.com
ESG ContactMichal Kowalczyk
Vice-President,
ESG Strategy phone:
647-788-4150
michal.kowalczyk@kinross.com
Source: Kinross Gold Corporation
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