Barrick 2012 Responsibility Report Now Available
Barrick 2012 Responsibility Report Now Available
TORONTO, June 18, 2013 /3BL Media/ — Barrick Gold Corporation has published its 2012 Responsibility Report, “Responsible Mining.” Each year, this report provides an in-depth overview of Barrick’s corporate responsibility performance across a number of areas that are important to sustaining Barrick’s license to operate.
“This report looks back on our progress over the past year and at what lies ahead for Barrick,” says Peter Sinclair, Vice President, Corporate Social Responsibility. “It reflects emerging corporate responsibility trends, summarizing how we are managing our social and environmental impacts to deliver benefits to our host communities. In a year marked by significant change, we recognize that our commitment to responsible mining practices is even more critical to the long-term success of our business.”
Several changes have been made to this year’s report, and chief among these is a greater focus on issues that are of material importance to both Barrick and its stakeholders. The result is a shorter and more focused report, summarizing Barrick’s performance in managing 12 specific issues, including energy use, climate change, water management, community engagement and security, human rights, supply chain management and employee safety.
Highlights from the 2012 Report include:
- Implemented grievance mechanisms and social obligations registers across all operating sites, as part of efforts to drive a more disciplined and professional approach to community engagement and ensure communities have a tool to voice their concerns.
- Significant economic contribution to the 11 countries and numerous communities where Barrick operates. In 2012, this contribution totalled $13.7 billion, including $9.1 billion for local and regional goods and services, $2.2 billion in taxes and royalties, and $2.4 billion in wages and benefits.
- $6.4 billion of the company’s total economic contribution went to developing and emerging countries in 2012, providing positive economic opportunities to these countries and host communities.
- Invested $54.4 million in community development initiatives and programs to improve health, education, infrastructure and quality of life. This figure included $5.3 million on scholarships/bursaries for more than 2,500 students.
- Over the past five years, Barrick has contributed nearly $20 million for scholarships, helping more than 15,500 students around the world improve their access to education at the primary, secondary, and tertiary levels.
- Continuing progress on implementing the global human rights compliance program, consistent with the company’s emphasis on respecting human rights in all locations. Advances in 2012 include human rights-related training of more than 10,000 employees, strengthened due diligence in hiring practices and human rights assessments at key sites and projects.
SAFETY AND ENVIRONMENT
- Continued success in workplace safety: A downward trend in the total reportable injury frequency rate, for the 12th straight year, representing an 83 percent improvement in safety performance since 2001.
- Implementation of 30 new energy efficiency projects, including a solar power pilot project at our Veladero mine in Argentina. Barrick now has over 140 energy efficiency projects in place across its operations.
- 19.4 percent of Barrick’s electrical power, both self-generated and purchased, was sourced from renewables in 2012. In 2013, Barrick is continuing its efforts to use more renewable energy and improve energy efficiency.
- Innovation in water management, including water recycling and zero discharge programs and the use of non-potable water sources. For example, 36 percent of water used in 2012 was derived from saline or brackish sources and 70 percent of the company’s operations are zero discharge sites with all water recycled and reused.
RESPONSIBLE SUPPLY CHAIN
- Enhanced supply chain management, including a refreshed Supplier Code of Ethics and adoption of Trace International’s TRAC system to improve respect for human rights and transparency across our supply chain.
- For the fifth consecutive year, Barrick was named to the Dow Jones Sustainability World Index. Barrick was also ranked among the top companies in the world by the NASDAQ Global Sustainability Index. In Canada, Barrick was named a Carbon Disclosure Leader and, more recently, Corporate Knights Magazine included Barrick in its Global 100 listing of the world’s most sustainable companies. In early June, Barrick was ranked fourth in a listing of Canada’s Top 50 Corporate Citizens by Corporate Knights.
- Barrick reports according to the Global Reporting Initiative’s (GRI) Sustainable Reporting Guidelines, using GRI-3 at application Level A+. Since 2008, Barrick’s annual Responsibility Report has been externally assured. The report includes a referenced index for the UN Global Compact and the International Council on Mining and Metals Sustainable Development Principles.
About Barrick Gold Corporation
Barrick is the gold industry leader. Based in Toronto, the company operates mines and advanced exploration and development projects on four continents. Shares are traded on the Toronto and New York stock exchanges under the symbol ABX.