Glencore plc Releases 2022 Sustainability Report, Demonstrating Commitment to ESG Initiatives

Glencore plc Releases 2022 Sustainability Report, Demonstrating Commitment to ESG Initiatives

(IN BRIEF) Glencore plc has released its 2022 Sustainability Report, which is now available on its website. The report encompasses the company’s environmental, social, and governance (ESG) initiatives and aligns with global reporting standards and principles. It focuses on material topics relevant to Glencore, its assets, and stakeholders. The report also includes case studies highlighting the efforts of Glencore’s commodity departments to enhance operational performance. Glencore aims to promote transparency and accountability while driving sustainability in the mining industry. The full report can be accessed on Glencore’s website, and further inquiries can be directed to their media relations team.

(PRESS RELEASE) BAAR, 22-May-2023 — /EuropaWire/ — Glencore (LON: GLEN), a Swiss multinational commodity trading and mining company, is pleased to announce the publication of its highly anticipated 2022 Sustainability Report, now available on our website.

The 2022 Sustainability Report is a comprehensive compilation of our environmental, social, and governance (ESG) initiatives. It incorporates our ESG data book, which adheres to the reporting requirements of the Global Reporting Index and aligns with the principles set forth by the International Council on Mining & Metals (ICMM), the United Nation’s Global Compact, and the Sustainability Accounting Standards Board’s Metals and Mining Sustainability Accounting Standard.

Continuing our commitment to transparency and accountability, this year’s report highlights the key areas deemed material to Glencore, its assets, and its diverse internal and external stakeholders. In addition to presenting an overview of our approach, performance, and activities related to each material topic, we have included compelling case studies showcasing the exemplary work undertaken by our commodity departments to drive continuous improvement across our operations.

At Glencore, sustainability is at the core of our business strategy. Through this report, we aim to provide a comprehensive account of our sustainability efforts, ensuring that we remain accountable to our stakeholders while driving positive change within the mining industry.

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.”

Glencore 2022 Sustainability Report

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

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.

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.

SOURCE: Glencore