Barrick Gold
Barrick Gold Corporation | LinkedIn
  • Barrick Gold released its 2022 Sustainability report outlining that its strategy is based on integrated and holistic management
  • Barrick generated more than US$10.7 billion in economic value and created 21,000 jobs in 2022
  • On the environmental front, Barrick has set itself a greenhouse gas emissions reduction target that is both demonstrable and achievable
  • The company’s total emissions in 2022 were 6,705kt CO2e
  • Barrick Gold engages in producing and selling gold and copper, and related activities such as exploration and mine development
  • Barrick Gold Corp (TSX:ABX) is down 0.96 per cent, trading at C$25.89 per share at 4:54 pm ET

Barrick Gold released its 2022 Sustainability report outlining that its strategy is based on integrated and holistic management.

The company’s strategy aligns with the objectives of the United Nations’ Sustainable Development Goals (SDGs), that seeks to deliver outcomes that are achievable, demonstrable and align with global priorities, says President and Chief Executive, Mark Bristow.

Bristow says that by using the SDGs as the central framework of its sustainability reporting, Barrick is better able to link an integrated approach to sustainability management. It helps avoid the siloed thinking and mere box-ticking approach that can be a consequence of taking an ESG compliance-driven approach.

Key Highlights:

  • Barrick generated more than US$10.7 billion in economic value and created 21,000 jobs in 2022
  • 96 per cent of its employees and 78 per cent of its senior site managers are host country nationals
  • The company procured US$1.4 billion worth of goods and services from suppliers in the communities closest to its mines
  • In total, Barrick spent over US$6.1 billion on host country suppliers in 2022
  • It also invested more than US$36 million in community development projects from education facilities in Nevada, to business incubators in the Dominican Republic and gender-based violence awareness in Tanzania
  • Barrick’s employees at its Pueblo Viejo mine in the Dominican Republic are now 23 per cent women. It has a target of 50 per cent female representation for all new hires
  • Pueblo Viejo is the first Dominican mining company to have been awarded the highest level of gender equality certification by the country’s Ministry of Women and the United Nations Development Programme

On the environmental front, Barrick has set itself a greenhouse gas emissions reduction target that is both demonstrable and achievable. The company’s total emissions in 2022 were 6,705kt CO2e. This is 6 per cent lower compared to the year before and an 11 per cent reduction against its 2018 baseline.

Barrick Gold engages in producing and selling gold and copper, and related activities such as exploration and mine development. The company sells its gold and copper into the world market.

Barrick Gold Corp. (TSX:ABX) is down 0.96 per cent, trading at C$25.89 per share at 4:54 pm ET.

The materials provided in this article are for information only and should not be treated as investment advice. For full disclaimer information, please click here.

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