Release of the 2022 Sustainability Report:
Welcome to Osisko’s third annual Growing Responsibly Report. This report demonstrates our commitment to transparency and continual improvement on ESG initiatives. The content of this report is guided by the GRI and the SASB Standards. In addition to reporting against SASB’s Asset Management and Custody Activities Standard, this year we are also reporting against the Metals and Mining Standard. This report has been prepared by Osisko’s Senior Executive Team, reviewed by the Environmental and Sustainability Committee and approved by the Board. This report has not been externally assured.
At Osisko, we firmly believe that responsible mining practices are essential to maximizing the long-term value of a mining operation for the benefit of all stakeholders. As long-term providers of capital, we seek to invest in assets that are operated responsibly and meet our rigorous due diligence criteria, including ESG factors. We then aim to enhance and amplify the ESG impact of our mining partners and contribute to our host communities.
Responsible mining has been a core tenet of our belief system since the inception of the company. Our group has often led the sector in aspects of sustainable development, and in 2022 we took another step forward in our journey to “grow responsibly”. This included the engagement of a global sustainability firm to further build upon our internal ESG initiatives and reporting practices. We conducted a more thorough materiality assessment to understand the topics that matter most to our stakeholders and that have the highest potential to impact our business. Seven priority topics were identified through this process: corporate governance, business ethics and integrity, climate change, tailings and waste, human resources, community relations, and human rights. The results of this assessment have enhanced our management practices and policies and improved our disclosure. As part of that improved disclosure, this year’s report is guided by both the Global Reporting Initiative (“GRI”) and Sustainability Accounting Standards Board (“SASB”), responding to our stakeholders’ expectations.
We remain committed to strong corporate governance practices that will contribute to the long-term success of our company. We enhanced our internal ESG oversight with the creation of an ESG Management Committee and commenced work on updating various corporate policies that highlight our commitment to operating with a focus on business ethics and integrity. These policies, including Human Rights, Human Resources, Health and Safety and Anti-Bribery, Anti-Corruption and Anti-Money Laundering were released and implemented in 2023.
Climate change is one of the defining challenges of our time. We recognize that we have a responsibility to invest in the right assets and conduct our business in a way that considers our climate change impacts. Looking ahead, there are several sustainability initiatives we aim to undertake including the creation of a climate change strategy, increasing the training and development offerings for our employees on ESG related matters, and finding new ways to assist our partners in achieving their ESG ambitions.