Barrick was recently honored for its corporate social responsibility performance, receiving separate awards for poverty reduction initiatives in Chile and community development practices in the Dominican Republic. The company was also recognized for its climate change disclosure practices in Canada and for its overall leadership in corporate, economic, environmental and social performance.
Barrick was named to the Dow Jones Sustainability World Index for the fourth consecutive year and the North American DJSI for the fifth straight year.
The renewed listing on both indices is especially noteworthy given that the threshold for qualifying is higher each year. In 2011 the DJSI made substantial changes to their assessment criteria, including new measures for assessing human rights impacts, climate change strategy and water-related risks, increased transparency on payments to governments and key performance indicators that show how companies benefit host communities.
“We have made corporate social responsibility a tangible business priority, and, I’m pleased and honored that our efforts continue to be recognized by this influential index,” says Aaron Regent, Barrick’s President and CEO. “Although Barrick has been ranked as a leader today, we know we must continually improve our performance. We have a responsibility to respect all people, protect the environment and contribute to the progress and prosperity of our host communities around the world.”
The DJSI World Index independently evaluates 2,500 companies in the areas of corporate, economic, environmental and social performance to identify the top 10 percent of performers.
For the second consecutive year, Barrick was named as a carbon disclosure leader in Canada, ranking among the top five companies in an annual survey conducted by the Carbon Disclosure Project. Barrick was selected from among 200 major Canadian companies as the most prepared, involved and transparent in its approach to climate change information disclosure practices and strategies. The Carbon Disclosure Project is the only global climate reporting system that asks companies to disclose Greenhouse Gas (GHG) emissions and climate change strategies. The survey is available for use by a wide audience including institutional investors, corporations, policy makers, public sector organizations, government bodies, academics and the public.
“At Barrick, it is a business imperative to manage the long-term, energy-related risks associated with climate change,” said Bill Williams, Barrick’s Vice President for Environment. “We are committed to public disclosure and are very pleased to be ranked as one of the top five leading companies in Canada by the Carbon Disclosure Project this year. We will continue to report on the progress we are making, as we pursue opportunities to reduce energy consumption, minimize greenhouse gas emissions and adopt renewable energy projects at our operations.”
Through energy conservation and efficiency programs, Barrick’s global GHG emissions were reduced by 206,200 metric tons over business as usual in 2010. The company continues to explore innovative technologies and implement alternative energy projects in Chile, Argentina, the U.S., Tanzania and other locations.
In Chile, Barrick received an award from the Chilean Ministry of Planning and Cooperation for its efforts to reduce poverty in the country’s Antofagasta and Atacama regions. “We are very proud to receive this award and it commits us to continuing this type of work,” said Barrick Vice President of Corporate Affairs Rod Jiménez. “We believe that by working together with communities, we can add value and contribute to a better society.”
Since 2009, Barrick has been working with the Solidarity and Social Investment Fund to implement projects to help people living in extreme poverty near its Chilean mine sites. The programs provide assistance to micro-entrepreneurs and small businesses. In 2010, 89 entrepreneurs and 35 small businesses received support from Barrick. As well, since 2008, Barrick has been part of the Atacama Commitment, a unique alliance with Chilean NGOs and government partners that includes a range of programs and projects aimed at improving economic and social conditions in communities in the Atacama region, home to Barrick’s Cerro Casale and Pascua-Lama projects.
“This award is aimed at recognizing companies with specific programs and initiatives to overcome poverty,” said Joaquín Lavín, Chile’s Minister of Planning and Cooperation. “It is focused on identifying and rewarding everyone who is collaborating on poverty reduction initiatives and invites others to join this challenge.”
Finally, in the Dominican Republic, Barrick’s Pueblo Viejo operation was recognized by the American Chamber of Commerce of the Dominican Republic with an award for its community development practices. The award recognizes Barrick for its innovative work in helping develop a wide array of CSR initiatives in collaboration with residents and governments in communities surrounding the Pueblo Viejo project. Pueblo Viejo was one of six companies vying for the award. “We are thrilled and gratified to be receiving this award, which recognizes our extensive work with communities to help them determine the sustainable development initiatives that they want to implement, and ensure they have the capacity to see those initiatives through to completion,” said Faby Manzano, CSR Manager, Pueblo Viejo Dominicana Corporation.