Management Approach

Macro-Trends

Some of the macro environmental trends facing the mining industry are water stewardship, climate change risks and opportunities, and the management of mining waste. There is increased competition for resources as the world’s population continues to increase; therefore, the public and governments are expected to increase scrutiny, expectations and regulations of their resources management. Since water is currently a critical input for production, our stewardship of this resource must continue to evolve. Regulations for greenhouse gas emissions (GHG) are becoming more stringent. Dynamic weather patterns and changing ecosystems are influencing society in new ways. Mine waste management is also under heightened public scrutiny as a result of mine sites with legacy environmental impacts and recent years’ major tailings dam failures. As awareness of all these issues grows, and tolerance for negative environmental impacts decreases, the extractives industry will face increasing regulatory and societal pressure to improve its sustainability performance, transparency and innovation.

Why Is This Important to Our Stakeholders?

Stakeholders want assurance that we are avoiding, or managing as well as, mitigating the environmental impacts of our operations. They recognize the importance of the earth and its resources to their own livelihoods and well-being. For many of our stakeholders, water stewardship and mine waste management are top priorities.

Why Is This Important to Us?

We are committed to the efficient use of natural resources, and we understand the importance of these natural resources to our business and to our stakeholders. We also recognize that without proper care of the environment, we cannot operate. A successful mining company must be more than just economically profitable in the short term. Success is based on many factors beyond economic profit, and it must be sustained from exploration through mine closure. Our stewardship of the environment, and our ability to innovate in mining technology are integral to our company’s sustainability.

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Our Strategy

Our strategy is to identify and proactively mitigate and manage our environmental impacts. We have embedded our environmental stewardship strategy in our Sustainability Excellence Management System (SEMS), which provides a standardized, systematized approach to environmental management in key areas, including specific requirements for water and tailings stewardship.

With respect to water stewardship, in addition to our SEMS standard on water stewardship, our H2Zero goal acts as a guiding vision for our water stewardship practices. The H2Zero Water Accounting Framework document developed in 2017 established numeric targets and organizational milestones for the ten-year program. These elements comprise the foundation of our strategic approach to water management.

The data reported in this section of the report restate the values from 2015 and 2016 to exclude the Los Filos asset, which was divested in 2017 to allow for a more consistent year-on-year comparison. Additionally, development projects, mines in closure and non-Goldcorp operated joint ventures are excluded unless otherwise noted.

Organizational Responsibility

At the Board level, the Sustainability Committee oversees our key environmental aspects and activities. Environmental programs are headed by the Vice President, Environment who reports to the Executive Vice President of Corporate Affairs and Sustainability.