Why ESG rules at Barrick Gold

PORGERA gold mine owner Barrick this week released its annual Sustainability Report for 2021 and this is an edited version of MD Mark Bristow’s opening remarks.
Why ESG rules at Barrick Gold Why ESG rules at Barrick Gold Why ESG rules at Barrick Gold Why ESG rules at Barrick Gold Why ESG rules at Barrick Gold

Macroinvertebrate and water quality assessment undertaken in preparation for the restart of Porgera gold mine

Staff Reporter

Over the last five years, environmental, social, governance (ESG) and sustainability performance have moved from the margins to mainstream thinking for investors and stakeholders.
For Barrick, this is nothing new. From board diversity to biodiversity, climate risk to community relations, a commitment to managing sustainability effectively and responsibly has long been entrenched in our DNA, and we approach it with the same diligence we apply to understanding our orebodies and our accounts. 
We measure our performance against our own internal Sustainability Scorecard. The scorecard, a first for the industry, benchmarks us against industry best practice, our peers, and our own past performance. In 2021, despite improvements across several metrics overall, we received a B grade. 
There is still room to improve, particularly when it comes to safety, where we again fell short of our own standards, having experienced two tragic fatalities.
Beyond raising the performance level within our operations, we also work for improvement at the industry level.
We are active members of the International Council on Mining and Metals (ICMM) and World Gold Council (WGC), where we focus on pushing community resilience up the climate agenda and driving the convergence of industry standards.
In a year when headlines were dominated by Covid-19 and the COP26 climate change meetings in Glasgow, we showed leadership and demonstrable progress in areas such as poverty alleviation and environmental stewardship.
We generated and distributed more than $10 billion in economic value throughout our host countries. We provided direct employment to more than 20,000 people and spent nearly $5.5 billion sourcing goods and services from incountry suppliers. We also invested more than $26 million in community development projects.
The full 156-page report may be found at this address: https://bit.ly/3rT2fsJ