Type to search

Wheaton Precious Metals Publishes Third Annual Sustainability Report Highlighting Continued ESG Leadership

Wheaton Precious Metals Publishes Third Annual Sustainability Report Highlighting Continued ESG Leadership

Wheaton is pleased to announce the publication of its 2021 Sustainability Report, a comprehensive review of Wheaton’s environmental, social and governance (“ESG”) performance metrics. An electronic version of the report is available here.

“At Wheaton, we have a strong belief in being an agent of change which means leading with our values and working to commit to the highest standards in all facets of ESG,” said Randy Smallwood, Wheaton’s President and Chief Executive Officer. “The 2021 Sustainability Report highlights Wheaton’s enhanced commitments to ensuring our people, our partnerships and our communities thrive as our business continues to evolve and grow. While we are proud of the progress and efforts we have made in the past year, we recognize that there is always more to be done.”

“Our latest report details Wheaton’s formal ESG strategy developed this past year that includes several new initiatives, particularly a commitment to achieve net zero carbon emissions by 2050, alongside other long-standing, established goals,” said Patrick Drouin, Wheaton’s Senior Vice President, Sustainability and Investor Relations. “Our commitment to promoting responsible mining practices starts with us, which is why beginning with our 2021 Sustainability Report, we are increasing our disclosures and reporting around our Scope 3 financed emissions. 2021 was an inflection point for many including for us at Wheaton, and we hope that our deliberate approach to ESG continues to serve as a catalyst throughout our industry.”

See related article: TopBuild Publishes 2021 ESG Report

Highlights outlined in the report include the following:

  • Establishment of a formal ESG strategy with targets and commitments across several material ESG topics
  • Set formal commitment to achieve net zero carbon emissions by 20501. This includes the establishment of targets across both Scope 2 and Scope 3 attributable emissions to support a 1.5° C trajectory.
  • Conducted climate scenario analysis of both a business-as-usual and net zero scenario to identify physical and transitional climate risks and opportunities.
  • Inaugural reporting of our Scope 3 financed emissions associated with our mining partners, including disclosing the detailed methodology developed to calculate these emissions.
  • Made an initial $4M commitment to support our mining partners’ efforts to move to renewable energy sources and reduce emissions at the mines in which we have an interest (becoming the first metals streaming company to do so).
  • Distributed over $6.2 million in 2021 in support of over 100 charitable causes and initiatives around the world.
  • Surpassed the $32 million mark in contributions to local charities and mining communities since inception of the Community Investment Program in 2009.
  • As announced at our recent Annual General Meeting, Wheaton now has 30% female Board members, achieving our 2024 target two years early.

Wheaton is rated #1 for Precious Metals (out of 123 companies) and ESG Global 50 Top Rated Company by Sustainalytics. Wheaton is also “AA” rated by MSCI ESG Ratings, rated “Prime” by ISS ESG and included in the Euronext Vigeo World 120 Indices.

Information and data in Wheaton’s 2021 Sustainability Report was informed by the Sustainability Accounting Standards Board (SASB), Global Reporting Initiative (GRI) and Task Force on Climate-Related Financial Disclosures (TCFD).

Source: Wheaton Precious Metals™ Corp.


Related Articles

Leave a Comment

Your email address will not be published. Required fields are marked *