TIDMGLEN
RNS Number : 1026A
Glencore PLC
22 May 2023
Glencore plc
Baar, Switzerland
22 May 2023
Glencore publishes 2022 Sustainability Report
Today, Glencore plc ("Glencore") published its 2022
Sustainability Report, which is available on its website .
Our 2022 Sustainability Report incorporates our ESG
(environment, social and governance) data book, which aligns with
the Global Reporting Index's reporting requirements, and maps to
the International Council on Mining & Metals (ICMM) Mining
Principles, the United Nation's Global Compact's principles and the
reporting requirements of the Sustainability Accounting Standards
Board's Metals and Mining Sustainability Accounting Standard.
As in previous years, this year's Sustainability Report focuses
on those areas identified as material to Glencore, its assets and
both its internal and external stakeholders. In addition to
providing an overview of the approach, performance and activities
during the year for each material topic, we include case studies on
the work undertaken by our commodity departments to drive improved
performance in our operations.
Kalidas Madhavpeddi, Chairman, notes "I am proud of the actions
we are taking to progress our sustainability-related material
topics.
"Climate continues to be an important topic for our stakeholders
and one on which I look forward to continued engagement. Following
the 2022 AGM, at which shareholders voted on the progress against
our three-yearly Climate Action Transition Plan, we undertook an
active engagement programme to understand better their views on our
climate strategy.
"We have reflected carefully on the feedback received and will
continue to engage with shareholders and other stakeholders, as
well as monitor external market developments. Insights from this
engagement have been and will continue to be factored into our
internal deliberations."
Gary Nagle, Chief Executive Officer, said "We recognise our
ongoing responsibility to not only deliver financial performance
but also make a positive contribution to society and create lasting
benefits for stakeholders in a manner that is responsible,
transparent and respects the rights of all.
"The successful implementation of our relaunched SafeWork
framework in mid-2021 has been a key focus for our industrial
assets and commodity departments. During 2022, we continued the
SafeWork 2.0 implementation plan, with good progress being made
Group-wide.
"We believe that the current rate of developing mining projects
worldwide is unlikely to meet the demand that the transition will
create. We believe that we are well placed to participate in
bridging this gap in supply through the flexibility that exists in
our business to respond to global needs.
In response to the growing demand for commodities, we are
directing the majority of our capital expenditure, in large part
funded through the earnings of our energy business, to fund the
development of our transition metals portfolio.
We continue to responsibly manage down our energy production
portfolio over time in line with our 2026 and 2035 emissions
reduction targets and our 2050 net zero ambition.
"We recognise that our socio-economic contribution goes beyond
local employment and procurement and the payment of taxes and
royalties. We identify opportunities to partner with and contribute
to the communities living near to our industrial assets. During
2022, we spent $90 million on community development programmes.
This was a 33% increase on 2021, as community activities resumed
following the easing of Covid-related restrictions, the inclusion
of the Cerrejón coal industrial asset in Colombia, and a
contribution to support humanitarian relief for the people of
Ukraine.
"The strength of our diversified business model with its focus
on metals and energy, has proved itself adept in a range of market
conditions, giving us a solid foundation to successfully navigate
shorter-term challenges that may arise, as well as meet the
resource needs of the future."
Ends.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 60 commodities that advance everyday life. Through a
network of assets, customers and suppliers that spans the globe, we
produce, process, recycle, source, market and distribute the
commodities that support decarbonisation while meeting the energy
needs of today.
With around 140,000 employees and contractors and a strong
footprint in over 35 countries in both established and emerging
regions for natural resources, our marketing and industrial
activities are supported by a global network of more than 40
offices.
Glencore's customers are industrial consumers, such as those in
the automotive, steel, power generation, battery manufacturing and
oil sectors. We also provide financing, logistics and other
services to producers and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative.
We recognise our responsibility to contribute to the global
effort to achieve the goals of the Paris Agreement by decarbonising
our own operational footprint. We believe that we should take a
holistic approach and have considered our commitment through the
lens of our global industrial emissions. Against a 2019 baseline,
we are committed to reducing our Scope 1, 2 and 3 industrial
emissions by 15% by the end of 2026, 50% by the end of 2035 and we
have an ambition to achieve net zero industrial emissions by the
end of 2050. For more detail see our 2022 Climate Report on the
publication page of our website at glencore.com/publications.
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Disclaimer
The companies in which Glencore plc directly and indirectly has
an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for
convenience only where references are made to Glencore plc and its
subsidiaries in general. These collective expressions are used for
ease of reference only and do not imply any other relationship
between the companies. Likewise, the words "we", "us" and "our" are
also used to refer collectively to members of the Group or to those
who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or
companies.
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