Welcome to Goldcorp’s 2016 Sustainability Report, our eleventh Sustainability Report. In 2016, despite a volatile year for the precious metals industry, we strongly reasserted our dedication to our vision of Together, Creating Sustainable Value.
In the face of continued market volatility, we adopted important optimization measures throughout the organization. As we undertook these changes, our commitment to sustainability was not compromised; it was strengthened. We continued improving and implementing our Sustainability Excellence Management System (SEMS) across our operations. We made real progress on water conservation and announced a transformative strategy, called Towards Zero Water, for drastically reducing fresh water use. We flattened organizational hierarchy and empowered our mine management teams across our sites, a move that strengthens the sustainability of our operations and makes local mine management responsible for nearly all key decisions that affect communities, from hiring to expansion plans.
Throughout the extractive industry, sustainability has become an essential component of doing business. Safe, sustainable practices are a requirement, from environmental policies to workplace safety to proactive and inclusive stakeholder engagement. Our commitment to sustainability begins when the first exploration teams take the time and care to consult with communities and establish a spirit of openness, transparency and trust. An excellent example is the work done by Kaminak Gold at the Coffee project, a new development property that we recently acquired in Canada’s Yukon. In the decision to acquire the project, we put serious weight to the relationships that Kaminak had established with government, communities and First Nations groups. They set the groundwork that we can carry forward, in a spirit of community engagement, openness and transparency, all of which are increasingly important to us and key to the way we do business.
I regret to report a fatality in April at the Marlin mine, a tragedy that overshadowed the overall improvement in our safety statistics. We responded with a thorough review and implemented corrective actions across all of our operations. Ensuring Goldcorp is “Safe Enough for Our Families” will continue to be our number one commitment.
We are an active member and contributor to national and international organizations that work to improve sustainability in mining. We apply the International Council on Mining and Metals’ Sustainable Development Framework as well as the principles of the United Nations Global Compact. This year we signed on to the UN’s Voluntary Principles on Security and Human Rights and have started to implement its principles throughout our operations.
While accolades are not our objective, we were pleased to see our external reporting recognized in a number of awards this year, one from the Finance and Sustainability Initiative and two from the Chartered Professional Accountants of Canada. Our commitment to indigenous relations was also acknowledged with a Change Maker award at this year’s Indigenous Works Workplace Inclusion Leadership Awards. We will continue to invest in improving our community relationships and increasing our transparency in reporting.
The most far-reaching announcement of the year was the launch of our Towards Zero Water initiative. This represents a company-wide commitment and a complete re-visioning of how we use water in mining. With today’s technology, 100% recycling and re-use of water is not possible in high-volume mining operations, but we are dedicating considerable scientific resources to the challenge of steadily reducing our water consumption toward that goal. This is a daunting challenge and a strong message to send to our communities and our peers. Improved stewardship of water resources will give us a competitive advantage, socially, practically and economically – and it’s simply the right thing to do.
In closing, I want to express my gratitude to the people of Goldcorp and the Board, as they have stood with us through a year of change. I know I can count on everyone’s talent and dedication as we build a lean, agile Goldcorp that delivers long-term sustainable value to all of our stakeholders. In 2017 and beyond, we will remain committed to health and safety, social and environmental stewardship, and advancing Towards Zero Water. Collectively, we continue to strive to achieve our vision of Together, Creating Sustainable Value.
President and Chief Executive Officer Goldcorp Inc.