Barrick Gold: Most Innovative ESG Mining Solutions Global 2022
Barrick Gold understands that ESG criteria must be measured before they can be properly managed. The Canadian company has mining operations in 18 countries across North and South America, Southeast Asia and the MENA region. It recently expanded carbon calculations to include the scope-three emissions produced throughout its value chain. Barrick is working with tech partners to cut emissions. It’s testing a new assay method that has delivered improved samples as well as savings in energy, emissions and time. Barrick department representatives collaborate in site-specific teams to combat climate change, bringing diverse perspectives together to implement actions. Sustainability performance and incentives for senior and operational leaders are interlinked and accounted for 25 percent of long- and short-term incentive schemes in 2021. Barrick implements measurable conservation actions to increase biodiversity across its sites and promotes circular economies to create value from waste. The company invests in the socio-economic development of its host countries and allocates funding as recommended by its Community Development Committees (CDCs). Elected committees unite the local leaders and community members — including women and youth — that best understand the region’s needs. One Barrick representative also comes to the table. In 2021, Barrick invested over $26.5m through its CDCs in five priority areas: education, health, food, water and local economic development. For the third consecutive year, the CFI.co judging panel has found reason to celebrate the sustainability credentials of the company — and announces Barrick Gold as the 2022 global award winner for Most Innovative ESG Mining Solutions.
