Together, Creating Sustainable Value – this vision guides Goldcorp in everything we do. Developing a full understanding of the economic, environmental and social impacts that matter most to our business, to our stakeholders and to society helps us to set clear goals and priorities in our pursuit of that vision.
One of the ways we develop that understanding is by conducting an annual materiality analysis – a 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 both the company and our stakeholders. The analysis is designed in accordance with the new Global Reporting Initiative (GRI) G4 materiality requirements and the GRI Principles for Defining Report Content
One of the benefits of this process is that it is iterative – each succeeding analysis adds to the knowledge and understanding gained in the previous reporting year. In 2016, we built upon our 2015 materiality analysis by engaging with a wider group that included employees, non-governmental organizations, industry associations, investors, community members, First Nations and government officials.
Expanding our engagement efforts provided us with a more comprehensive understanding of the topics that interest our stakeholders, and allowed us to broaden our focus to include 16 material topics (in 2015, we identified 14), which can be seen below in the 2016 materiality matrix.
Through the materiality analysis, we can establish the categories and topics of highest material priority to Goldcorp. This helps to shape both our sustainability reporting and strategy. With this knowledge, we can pinpoint opportunities for improving our sustainability performance and for mitigating sustainability-related risks – which make an essential contribution to our operational success.
A summary of the main themes, questions and issues raised during the engagement process of our materiality analysis can be found in the Stakeholder Engagement section of our 2016 Sustainability Report.
Setting Our Priorities
In 2016, company-wide sustainability priorities included our Toward Zero Water (H2Zero) initiative, which focusses on reducing fresh water consumption and improving water recycling rates. Access to water and responsible water usage are important to our business and our stakeholders. We believe H2Zero will enable us to not only reduce water consumption, it will lower our operating costs and send a compelling, positive message to communities adjacent to our current and prospective operations.
Diversity has long been a key priority for Goldcorp. In 2016, we launched the second phase of Growing Choices, an enterprise-wide training, development and mentorship initiative for women at Goldcorp, across the organization. We also began work on the third phase of the program, Future Choices. The objective of this initiative is to help women understand and achieve opportunities for professional growth – not only at Goldcorp, but also in the mining industry as a whole.
A commitment to human rights is also a defining priority for Goldcorp. Over the course of 2016, we rolled out a human rights course and certified over 2,900 employees and contractors. We also became signatories to the Voluntary Principles on Security and Human Rights.
Incorporating sustainability into all our activities and planning is key to Goldcorp’s strategy and success in the long term. Our new decentralized approach will support mine managers – and make them accountable – when it comes to running profitable mines, engaging with local communities and advancing Goldcorp’s sustainability initiatives in their areas of operation. We believe this, along with our commitment to dialogue and transparency, will help make Goldcorp a leader in all aspects of our performance.
To learn more, visit our recently published 2016 Sustainability Report at http://csr.goldcorp.com/2016/. We welcome questions and feedback about our programs, along with any suggestions for improving our sustainability reporting. Please direct your inquiries and comments to SustainabilityReporting@goldcorp.com.