As the practice of sustainability management grows and evolves to address new and diverse areas of business operations, so too do sustainability reporting requirements, especially for companies operating in multiple jurisdictions.
Each company must determine how to communicate sustainability performance to their stakeholders in a manner that is open, transparent and effective. This determination also considers not only how to present sustainability performance data, but also what to present.
At Goldcorp, we, along with our fellow International Council on Mining and Metals (ICMM) members, report to the Global Reporting Initiative’s G4 framework. The Global Reporting Initiative’s G4 guidelines place materiality at the centre of sustainability reporting: Companies are expected to report on those topics that are most important to them and their stakeholders.
The analysis of our most material topics is conducted annually and provides the mechanism to identify the sustainability challenges and opportunities that matter most to our business. This analysis is a systematic strategic review of the topics that have a direct or indirect impact on our ability to create, preserve or erode economic, environmental and social value for ourselves and for our stakeholders. This process is extremely valuable to us: it helps us prioritize sustainability reporting topics, informs risk management and planning, and improves our response to our stakeholders’ questions and concerns.
In preparation for our 2015 Sustainability Report, we once again conducted a thorough materiality analysis. This process involved a detailed assessment of relevant information to identify our key priorities. Next, we engaged key stakeholder groups to understand what is important to them, validate the assessment of our most material topics, and we also discussed the ways we are managing our impacts.
The results of this engagement has informed the way we prioritize and report on our business’ sustainability performance.
In line with our commitment to transparency and open communication, we engaged a wide range of stakeholder groups to ensure we captured a diversity of perspectives. Stakeholders that participated included employees, non-governmental organizations, industry associations, investors, community members, First Nations and government officials.
We have summarized the main themes, questions and concerns discussed during this engagement and provided responses to these, which can be viewed here.
As a result of this process, we have identified 14 key material topics. Our sustainability report focuses on these topics, as they refer to the interests, topics and expectations raised by our stakeholders during our materiality analysis, and they also reflect our core opportunities in contributing to sustainable development in the areas where we do business.
To better understand what each one of these topics means for Goldcorp and to gain a perspective of how important each topic is for our stakeholders, please review our materiality matrix below.
Constructive dialogue with stakeholders and communities has provided tremendous value to our practices, policies and procedures and has allowed us to build on the knowledge that we have gained over the last 10 years of sustainability reporting. For this reason, we would like to acknowledge the communities and stakeholders – from Indigenous groups to the academic and non-profit sectors to the investment community – who have engaged with us on sustainability issues over the past few years. This dialogue has been constructive and has had a tremendous influence on us and how we do business.
Moving forward, we will continue to engage with our stakeholders and strive for continuous improvement in our sustainability programs, as well as the transparency of our disclosures in order to maintain the trust that we have established over the years.
We always welcome any questions or feedback about our programs, as well as any comments for improvements in our sustainability reporting. Your inquiries may be directed to SustainabilityReporting@goldcorp.com.