Osisko is reporting against the Sustainability Accounting Standards Board standards (“SASB”) for the first time with our 2021 data.
We consider the Metals & Mining standard as targeted towards mine operators, and as such not entirely applicable to Osisko’s royalty and streaming business model. There are a number of metrics that do apply, and we disclose those where appropriate. Additionally, as capital providers, we have supplemented our disclosure with topics and metrics from SASB’s Asset Management and Custody Activities sector. These metrics are also not perfectly applicable to Osisko’s business, where this is the case, our reporting included an explanation of why the specific metric is not applicable and why information has been omitted.
SASB – Asset Management and Custody Activities (applicable to Osisko’s business)
|Transparent Information & Fair
Advice for Customers
|FN-AC-270a.2||Total amount of monetary losses as a result of legal proceedings associated with marketing and communication of financial product-related information to new and returning customers||As a royalty and streaming company, our business model differs from that of a typical asset manager or broker. In a larger context, Osisko does not have any monetary losses associated with marketing and communication of our company.|
|FN-AC-270a.3||Description of approach to informing customers about products and services||As a royalty and streaming company, we do not have customers in the traditional sense. We inform our shareholders on a regular basis through public disclosure (in compliance with regulations and industry best practices) and hold an annual general meeting, such that shareholders can engage directly with our Board and management to share their views on governance and other matters.|
|Employee Diversity & Inclusion||FN-AC-330a.1||Percentage of gender and racial/ethnic group representation for (1) executive management, (2) non-executive management, (3) professionals, and (4) all other employees||Currently, one woman is an executive officer of the company representing 16.6% of the executive management team. Three out of our nine (33.3%) Board members identify as female or a member of a visible minority. 19% of Osisko’s employees identify as a member of a visible minority and 58% of all employees are women. For more details, see section Diversity, Inclusion and Discrimination of this report.|
|Incorporation of ESG factors in investment
management and advisory
|FN-AC-410a.1||Amount of assets under management, by asset class, that employ (1) integration of environmental, social, and governance (ESG) issues, (2) sustainability themed investing, and (3) screening||As a royalty and streaming company, we do not have assets under management, as defined by SASB. As such this quantitative metric is not applicable to Osisko. That said, as part of our due diligence process when acquiring new streams or royalties, we undertake significant analysis on ESG risks and issues. More details can be found in FN-AC-410a.2 and the Due Diligence and Investment Management section of this report.|
|FN-AC-410a.2||Description of approach to incorporation of environmental, social, and governance (ESG) factors in investment and/or wealth management processes and strategies||See Pages 9 and 22 of this report (Responsible Investing and Corporate Governance sections).|
|FN-AC-410a.3||Description of proxy voting and investee engagement policies and procedures||As of December 31, 2021, Osisko held a portfolio of publicly-listed equity positions and our approach is to always exercise our voting rights after due consideration of the relevant topics submitted to shareholders’ vote and in accordance with our overall approach to managing ESG topics as discussed in this report.
Our ownership stake in Osisko Development Corp., where we held an interest of 75.1% as at December 31, 2021, allows for more active engagement. Osisko Gold Royalties has the right to appoint nominees to the Board of Directors of Osisko Development; such number of nominees will decrease if, as, and when Osisko Gold Royalties decreases its ownership of Osisko Development over time.
|Business ethics||FN-AC-510a.1||Total amount of monetary losses as a result of legal proceedings associated with fraud, insider trading, anti-trust, anti-competitive behaviour, market manipulation, malpractice, or other related financial industry laws or regulations||At the time of publication of the report, Osisko had no (nil) monetary losses as a result of legal proceedings associated with fraud, insider trading, anti-trust, anti-competitive behaviour, market manipulation, malpractice, or other related financial industry laws or regulations.|
|FN-AC-510a.2||Description of whistleblower policies and procedures||Our Whistlerblower policy can be found on our website and in the Code & Ethics section of this report. To date, there have been no (nil) complaints submitted since inception.|
SASB – Metals and Mining (select disclosures applicable to Osisko’s business)
|Energy Management||NR0302-04||(1) Total energy consumed, (2) percentage grid electricity, (3) percentage renewable||In 2021, Osisko consumed 349,029 ekWh of energy. The electricity provided to the head office comes from hydroelectricity generated from renewable sources. In 2021, 100% of Osisko’s total electricity usage was from renewable resources. More details can be found in this report in the Energy & Water Consumption section.|
|Security, Human Rights
& Rights of Indigenous Peoples
|NR0302-17||Discussion of engagement processes and due diligence practices with respect to human rights, indigenous rights, and operation in areas of conflict||Osisko’s commitment to the UN Global Compact ten universally accepted principles reiterates Osisko’s conviction that every employee is entitled to the right to life and liberty, freedom of opinion and expression, and to the respect of their integrity and dignity. Osisko promotes an environment free from discrimination with zero-tolerance for harassment of any sort.
For more details, please visit the Due Diligence, UN Global Compact and Human Rights sections of this report.
|Business Ethics & Transparency||NR0302-21||Description of the management system for prevention of corruption and bribery throughout the value chain||Osisko is determined to ensure compliance to anti-bribery and anti-corruption laws, principles and rules. Osisko promotes zero-tolerance against bribery and corruption.
More details can be found in this report in the Human Rights and Code of Ethics sections.
|NR0302-22||Production in countries that have the 20 lowest rankings in Transparency International’s Corruption Perception Index||As of the date of this report, Osisko does not have any production from any of the 20 lowest ranked countries in the 2021 Transparency International’s Corruption Perception Index.|