OUR 2022 SUSTAINABILITY REPORT
In late May we released our annual Sustainability Report. This document details Oceanagold’s sustainability performance for 2022. In this Update we explain what a Sustainability Report is, why we produce one each year, and why they are important to the wa
WHAT DO WE MEAN BY ‘SUSTAINABILITY’?
The most often used definition of sustainability comes from the United Nations World Commission on Environment and Development: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
So, sustainable practices support ecological, human, and economic health and vitality. Sustainability also presumes that resources are finite and should be used conservatively and wisely with a view to long-term priorities and consequences of the ways in which resources are used.
WHY IS SUSTAINABILITY IMPORTANT?
Oceanagold’s activities touch people’s lives – our staff, contractors, suppliers and people in the communities in which we operate – and we take our responsibilities to them and the environment seriously. This is demonstrated in the way we support our people at work, in the partnerships we foster and the community objectives we support, in the environmental practices and initiatives we invest in, and in our commitment to integrity, high standards of governance and transparency.
Sustainability remains central to our strategy and Company performance goals. It matters to our investors who rely on sustainability performance in their investment decisions, to our employees who want to work for a purpose-driven organisation, and to all stakeholders who expect us to manage the impacts associated with our operations.
This means striving to protect the environment and to create opportunities to generate long-term value, consistent with our Purpose of mining gold for a better future. This focus helps define our strategic and day-to-day thinking. This not only helps us to create a better future for all of our stakeholders, but also makes good business sense.
WHY PRODUCE A SUSTAINABILITY REPORT?
Sustainability reporting is the disclosure of environmental, social and governance roles. These are often referred to as ‘ESG’. Our Sustainability Report describes what our ESG goals are, as well as detailing what our action plans are to reach each of the targets and whether we have achieved these during the reporting period. For example, in the 2022 report we have detailed our conformance with Responsible Gold Mining Principles (RGMPS) with assurance completed by Bureau Veritas. We also report on how we continue to develop a Responsible Supply Chain Framework development, including updates of policies, codes and practices.
Oceanagold’s Sustainability Report has been prepared with reference to the Global Reporting Initiative (GRI) Standards and the GRI G4 Mining and Metals Sector Disclosures. GRI provides the world’s most widely used sustainability reporting standards. This external verification process and the use of a recognised reporting framework provides robust verifiable data which tracks our performance and provides for transparency and dialogue between Oceanagold and our many stakeholders.