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Kinross Gold's 2022 Sustainability and ESG Report: Achievements, Goals, and Commitment to Responsible Mining


Kinross Gold's 2022 Sustainability and ESG Report: Achievements, Goals, and Commitment to Responsible Mining
Introducing Kinross Gold's 2022 Sustainability and ESG Report: A Testament to Our Commitment to a Better Future
We are thrilled to unveil the Kinross Gold 2022 Sustainability and ESG Report, a comprehensive account of our remarkable progress in advancing our Environment, Social, and Governance (ESG) strategy over the past year. This milestone report not only reflects our unwavering dedication to responsible mining but also outlines our ambitious ESG goals for 2023 and beyond.
For 15 years running, our Sustainability and ESG Report has been the cornerstone of our operational success, showcasing our responsible mining approach. At the heart of this achievement lies our ESG governance structure, firmly rooted in our core values, unwavering adherence to international frameworks and standards, and our Safety and Sustainability Policy. These pillars are the driving force behind our First Priorities and our commitment to environmental stewardship, social responsibility, and governance.
Within its pages, you'll find a wealth of key highlights and accomplishments that demonstrate our unwavering dedication to making a positive impact:
Empowering Host Countries: We are proud to have generated an astounding US$2.9 billion in economic benefits for our host countries through taxes, wages, procurement, and community support. Since 2010, we have contributed an impressive US$44 billion to their economies.
Local Employment Excellence: Our commitment to local communities remains steadfast, with 99% of our workforce and 87% of our management positions filled by talented individuals from within our host countries.
Championing Diversity, Equity, and Inclusion: We have made significant strides in achieving our diversity goals, boasting a 13.3% female participation rate in our workforce – the highest level achieved in five years.
Unparalleled Safety Records: With an unwavering focus on safety, we are thrilled to report zero reportable incidents at our tailings sites for the 30th consecutive year. In the past three years, we have diligently conducted independent reviews at 100% of our sites to ensure the utmost safety measures.
Sustainable Water Management: Our relentless efforts in water conservation have yielded an 8% decline in water intensity from 2021 to 2022. This remarkable achievement is driven by increased tonnes processed and a significant reduction in net water storage at our Paracatu site.
Pioneering Climate Action: In line with our commitment to combat climate change, we have introduced our first-ever Climate Change Strategy. This comprehensive plan outlines our pathway to achieve net-zero emissions by 2050, with an interim target of reducing Scope 1 and Scope 2 greenhouse gas emissions intensity by 30% (based on a per gold equivalent ounce basis) by 2030.
A Strong ESG Footprint: We take immense pride in earning the highest S&P ESG Global rating in 2022, ranking in the 97th percentile. This represents our highest placement ever and demonstrates our commitment to sustainability. Additionally, our Sustainalytics risk rating score has improved by a significant 10 points, while our 'A' position with MSCI has been maintained for the third consecutive year.
Exemplary Corporate Governance: Recognized as the leading mining company in The Globe and Mail's annual ranking for corporate governance among Canadian companies, we achieved an impressive score of 93 out of 100.
The Kinross Gold 2022 Sustainability and ESG Report is not just a testament to our accomplishments but also a roadmap for a future where responsible mining and sustainability go hand in hand. Join us on this remarkable journey towards a brighter, more sustainable world.
“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.”