Barrick is committed to protecting human rights at its operations around the world. In late 2010, Barrick became the first Canadian mining company to join the Voluntary Principles on Security and Human Rights, a set of guidelines by which companies in the extractive sector can maintain the safety and security of their operations while ensuring respect for human rights.
“Barrick’s admission by government, NGO and corporate participants reinforces our strong commitment to implement and advance these important human rights principles. We welcome this opportunity to be part of a constructive dialogue on industry challenges and the future of security and human rights in the extractive sector,” said Aaron Regent, Barrick’s president and CEO.
The company is currently advancing the implementation of the Voluntary Principles, engaging with NGOs, extractive sector companies and government members, while working closely with local communities. Th is is particularly important in the complex environments in which Barrick operates and faces ongoing challenges – and where the company is further strengthening its compliance with these human rights principles.
The implementation and consolidation of the Voluntary Principles and audit protocol are a high priority for Barrick in 2011. Moving forward, this will assist in improving performance in the security and human rights area.
New initiatives to strengthen corporate governance
The company is also undertaking two new corporate social responsibility (CSR) initiatives to further strengthen Barrick’s global performance. To enhance expertise in CSR at the most senior level of the company, Barrick will be establishing an external CSR Advisory Board that will provide advice and guidance on challenging social and environmental issues and encourage further innovation and leadership. Th e company intends to establish the advisory board in 2011, comprised of external experts and representatives of key stakeholder groups.
Barrick will also appoint an independent director to its Board of Directors to support the company’s commitment to corporate social responsibility. A search is underway to fill this position in 2011.