Karora’s ESG Position Statement
At Karora, Environmental, Social, and Governance (ESG) factors are directly linked with our core strategic objectives. The way that we manage ESG factors has a direct link to the success of our business. ESG factors can have significant impacts on our operations, our employees, contractors, suppliers, local communities, and ultimately, the long-term value of our company. While they are inextricably linked, the Company’s Vision, Mission, and Values direct and enforce the Company’s approach and commitment to ESG.
Our ESG Commitment
We support the objectives of the Paris Agreement and the Glasgow Climate Pact and recognize the critical role of the global mining sector in providing the metals necessary for the transition to low carbon energy. The management of ESG factors is in strong alignment with our overall commitment to safe and responsible mining, to strong governance, and to enhancing the role of the minerals and metals sector to global sustainable development.
We believe that transparency and accountability to our investors, stakeholders and communities are critically important. We are committed to adhering to market-leading, investor-preferred ESG disclosure approaches. To this end, we are adopting leading ESG reporting frameworks, such as the Sustainability Accounting Standards Board (SASB) Standards and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), for our annual ESG and climate change reporting.
Governance and Oversight of ESG Factors
Karora’s Board of Directors oversees the company’s ESG program and all related sustainability matters. During its quarterly meetings, the Board reviews the status of Karora’s various ESG initiatives, considers related recommendations, and provides input as to the overall direction of the program.
The Board is supported in its responsibility for oversight of Karora’s ESG program by the Senior Vice President (“SVP”), Technical Services and Sustainability. The SVP, Technical Services, and Sustainability has the highest level of management accountability for ESG and is responsible for identifying, assessing, and managing Karora’s ESG risks and opportunities, including those related to climate change. The SVP, Technical Services, and Sustainability reports to the Board on ESG and sustainability issues on a quarterly basis and work closely with Karora’s CEO on ESG-related matters. As a topic of high priority for Karora, the CEO is actively involved in the development and implementation of Karora’s ESG strategy.
Our ESG Approach
The following pillars align to the strategic ESG factors that were identified as having the potential to impact the future of the company and that are of most importance to our stakeholders, as determined by a formal ESG Materiality Assessment. To support these foundational pillars, we expect all employees, officers, directors, and to the extent feasible, consultants, contractors, and representatives of Karora, to be committed to our objective to be an ESG leader by upholding the following commitments:
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