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Glencore publishes 2022 Sustainability Report
GLENCORE PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955
Baar, Switzerland
22 May 2023
Glencore publishes 2022 Sustainability Report
Today, Glencore plc (“Glencore”) published its 2022 Sustainability Report, which is
available on its website.
Our 2022 Sustainability Report incorporates our ESG (environment, social and
governance) data book, which aligns with the Global Reporting Index’s reporting
requirements, and maps to the International Council on Mining & Metals (ICMM)
Mining Principles, the United Nation’s Global Compact’s principles and the reporting
requirements of the Sustainability Accounting Standards Board’s Metals and Mining
Sustainability Accounting Standard.
As in previous years, this year’s Sustainability Report focuses on those areas identified
as material to Glencore, its assets and both its internal and external stakeholders. In
addition to providing an overview of the approach, performance and activities during
the year for each material topic, we include case studies on the work undertaken by
our commodity departments to drive improved performance in our operations.
Kalidas Madhavpeddi, Chairman, notes “I am proud of the actions we are taking to
progress our sustainability-related material topics.
“Climate continues to be an important topic for our stakeholders and one on which I
look forward to continued engagement. Following the 2022 AGM, at which
shareholders voted on the progress against our three-yearly Climate Action Transition
Plan, we undertook an active engagement programme to understand better their
views on our climate strategy.
“We have reflected carefully on the feedback received and will continue to engage
with shareholders and other stakeholders, as well as monitor external market
developments. Insights from this engagement have been and will continue to be
factored into our internal deliberations.”
Gary Nagle, Chief Executive Officer, said “We recognise our ongoing responsibility to
not only deliver financial performance but also make a positive contribution to society
and create lasting benefits for stakeholders in a manner that is responsible,
transparent and respects the rights of all.
“The successful implementation of our relaunched SafeWork framework in mid-2021
has been a key focus for our industrial assets and commodity departments. During
2022, we continued the SafeWork 2.0 implementation plan, with good progress being
made Group-wide.
“We believe that the current rate of developing mining projects worldwide is unlikely
to meet the demand that the transition will create. We believe that we are well placed
to participate in bridging this gap in supply through the flexibility that exists in our
business to respond to global needs.
In response to the growing demand for commodities, we are directing the majority
of our capital expenditure, in large part funded through the earnings of our energy
business, to fund the development of our transition metals portfolio.
We continue to responsibly manage down our energy production portfolio over time
in line with our 2026 and 2035 emissions reduction targets and our 2050 net zero
ambition.
“We recognise that our socio-economic contribution goes beyond local employment
and procurement and the payment of taxes and royalties. We identify opportunities
to partner with and contribute to the communities living near to our industrial assets.
During 2022, we spent $90 million on community development programmes. This
was a 33% increase on 2021, as community activities resumed following the easing of
Covid-related restrictions, the inclusion of the Cerrejón coal industrial asset in
Colombia, and a contribution to support humanitarian relief for the people of Ukraine.
“The strength of our diversified business model with its focus on metals and energy,
has proved itself adept in a range of market conditions, giving us a solid foundation
to successfully navigate shorter-term challenges that may arise, as well as meet the
resource needs of the future.”
Ends.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
www.glencore.com
Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer
and marketer of more than 60 commodities that advance everyday life. Through a network of assets,
customers and suppliers that spans the globe, we produce, process, recycle, source, market and
distribute the commodities that support decarbonisation while meeting the energy needs of today.
With around 140,000 employees and contractors and a strong footprint in over 35 countries in both
established and emerging regions for natural resources, our marketing and industrial activities are
supported by a global network of more than 40 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
battery manufacturing and oil sectors. We also provide financing, logistics and other services to
producers and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.
We recognise our responsibility to contribute to the global effort to achieve the goals of the Paris
Agreement by decarbonising our own operational footprint. We believe that we should take a holistic
approach and have considered our commitment through the lens of our global industrial emissions.
Against a 2019 baseline, we are committed to reducing our Scope 1, 2 and 3 industrial emissions by 15%
by the end of 2026, 50% by the end of 2035 and we have an ambition to achieve net zero industrial
emissions by the end of 2050. For more detail see our 2022 Climate Report on the publication page of
our website at glencore.com/publications.
Follow us on social media:
www.facebook.com/glencore
www.instagram.com/glencoreplc
www.linkedin.com/company/glencore
www.twitter.com/glencore
www.youtube.com/glencorevideos
Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In
this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to
Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not
imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer
collectively to members of the Group or to those who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or companies.
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 22-05-2023 08:00:00
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