Release of the 2023 Sustainability Report:Growing Responsibly |
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It is with great pleasure that Osisko Gold Royalties presents the fourth edition of Growing Responsibly, showcasing our sustainability achievements in 2023. As a leading precious metals-focused royalty and streaming company operating in top-tier mining jurisdictions, we are committed to championing responsible mining practices and fostering positive impacts within the communities where we and our partners operate. This report has been prepared by Osisko’s Senior Executive Team, reviewed by the Environmental and Sustainability Committee and approved by the Board of Directors. The report has not been externally assured by an independent third party.
In 2023, our Senior Executive Team diligently aligned our capital allocation decisions with ESG principles through the formalization of our investment due diligence process and the launch of an industry-leading ESG screening and monitoring tool. This tool enables us to assess the ESG performance of potential and existing assets and mining partners across various criteria. In providing long-term capital, we strive to partner with mining companies.
As responsible fiduciaries, it is our job to manage and mitigate the risks of climate change on our business. We therefore engaged climate risk experts to undertake a focused risk assessment, simulating potential future climate events and identifying potential physical and transition risks to several of our key assets.
We then used this assessment to develop our 2024-2027 Climate Change Strategy comprised of three pillars:
- Manage climate-related financial risks
- Pursue a low-emission future
- Prioritize good governance and transparent disclosure
Each pillar embodies dedicated commitments aimed at driving tangible progress towards our overarching strategy.
As a business operating out of an office environment, our direct impact on the climate is minimal. Therefore, our strategy focuses on managing climate-related risks in our portfolio and collaboratively working with our mining partners on their decarbonization efforts through our capital allocation decisions. In our commitment to transparency, we improved reporting on Scope 3 emissions and took steps towards carbon neutrality by purchasing carbon credits. Additionally, we invested in employee capacities through targeted trainings on DE&I, health and safety, and human rights.
This year, we have enhanced our impact by developing new internal community investment guidelines to optimize the effectiveness of our charitable contributions. In 2023, Osisko proudly contributed a total of $327,900 towards our pillars of Education, Social/Community, and Climate Change/Environmental support. Our community investments and employee volunteering initiatives are strategically focused on empowering and uplifting the local communities surrounding our head office as well as those connected to our mining partners’ operations.
We also strengthened our governance program through the adoption of new policies including: a Human Resources Policy, Health and Safety Policy, Human Rights Policy, and an Anti-Bribery, Anti-Corruption and Anti-Money Laundering Policy. And, in order to continue to shape and expand upon our focus on ESG initiatives, we appointed a dedicated Vice President, Sustainability and Communications.
In 2024, we have already begun to build on our 2023 achievements. We are focused on enhancing employee development and well-being, including mental health awareness training, implementing our “ESG due diligence screening and monitoring tool” and rolling out our Climate Change Strategy, all the while deploying capital alongside our mining partners to maximize our positive ESG impacts.
This year’s report is guided by the GRI and SASB disclosure standards and the IFRS S2 climate-related disclosures. In 2024, we plan to expand our sustainability disclosure through initiatives like CDP and prepare to align with emerging standards like IFRS S1 and S2, while continuing to respond to stakeholder feedback.
We extend our heartfelt thanks to our team, mining partners, investors, and stakeholders for their unwavering support in driving sustainable practices and creating long-term value. We invite you to explore our achievements in 2023 and our future plans as we strive towards a more sustainable future at Osisko Gold Royalties.
Sincerely,
Jason Attew
President and Chief Executive Officer
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Edie Hofmeister
Chair, Environmental and
Sustainability Committee of the Board