Being a positive influence on our mining partners
Progress in 2023
- 100% of our producing/ near-term producing operating partners responded to our sustainability requests
- Continue to explore opportunities of partnering with operators on community engagement initiatives
- Completed Vale Foodbank donation
- Developed a methodology for calculating financed
emissions
2024 priorities
- Commit to support at least one new operating partner community or charitable initiative
- Increase disclosure of financed emissions from our operating partners across the portfolio
- Commit to assess the decarbonisation efforts and net zero alignment of our operating partners (including progress of transition plans to achieve net zero targets)
Operator sustainability metrics
In 2023, we have sought to continue to disclose more meaningful sustainability metrics. We have achieved this through engagement with operating partners as demonstrated by increased participation in our sustainability metrics survey. We focus on the following key metrics of our portfolio operations:
- water management;
- energy;
- climate;
- waste management;
- health and safety; and
- diversity.
During the course of this year, we have used the climate metrics provided by our operators to develop our methodology to calculate our operating partners’ financed emissions for their Scope 1 and 2 emissions. Please refer to the Annual Report for further information on this.
All of our detailed operator sustainability metrics for 2019-2022 can be found in the Sustainability section of the Group website.
Using our ESG risk due diligence and monitoring tools, we continue to maintain close dialogue with our operating partners to proactively monitor the performance of our portfolio assets and ensure early identification of, and engagement on, any risks and opportunities. Our ongoing engagement includes regular discussions between our operating partners and our technical, legal and investment teams, which also allow for the opportunity to understand their sustainability practices and transition plans and any ESG risks to be mitigated.
In addition to monitoring and disclosing our operating partners’ ESG performance, we encourage operators’ adherence to ESG best practice by: (i) monitoring external media reports and other publicly available information on the assets; (ii) engaging in regular dialogue with operating partners (including conducting periodic site visits); (iii) encouraging our operating partners to adopt policies on relevant ESG issues, acting as a positive agent of change; and (iv) gathering periodic reports from our mining partners on their ESG activities.
Community initiatives with operators
Ecora maintains an ongoing dialogue with its operating partners to identify opportunities to collaborate on charitable initiatives that positively impact the communities within the proximity of the mines and mills in which the Group has invested. The Group is committed to investing in projects that have a long-term impact on communities and which help break the poverty cycle. As such, the Group is exploring projects that focus on the provision of healthcare, education and nutrition.
In partnership with Vale, our operating partner of the Voisey’s Bay mine, Ecora has committed to making monetary donations to the Community Food Sharing Association throughout 2023. Based in Newfoundland and Labrador, Canada, the Community Food Sharing Association manages the collection and distribution of food through 54 food banks to more than 10,700 children, women, and men throughout Newfoundland and Labrador.