We seek to create long-term value through safe, innovative and environmentally sound operations.
Our corporate values reflect our purpose and guide our day-to-day conduct as well as providing the foundation of sustainability areas of focus
Sustainability focus areas
DEFINING WHAT MATTERS
In 2021, we updated our materiality assessment by engaging with key internal and external stakeholders.
Refining our materiality
In 2021 we worked with an external agency to undertake a refresh of our 2020 materiality assessment. This has enabled us to identify and report on the sustainability topics that provide: a) financial or reputational risk to our business and b) opportunities for making a positive contribution to society and the environment.
While our main three topics (‘Occupational health & safety’, ‘Water management’ and ‘Business conduct & ethics’) have remained a high priority for Hochschild to address in 2021, two additional topics have risen in importance for Hochschild in 2021: Climate change and Positively impacting local communities. We undertake a materiality assessment every three years and plan to revisit and refresh it in 2024.
Engaging stakeholders
We are focused on generating long-term stakeholder value through the transparent delivery of key minerals and a commitment to creating a positive global impact. The decisions we make impact our shareholders, employees, local communities, regulators, suppliers, and customers.
To ensure we maintain strong, respectful and mutually beneficial relationships with all our stakeholders, we listen to their voices and inform our strategic decisions by taking their perspectives into account, including, for example, refining our materiality
Aligning to the UN SDGs
We support the UN’s 2030 Agenda for Sustainable Development and recognise that meeting the ambitions they set out will require the co-operation of governments, civil society and businesses around the world. As such, we are working, where possible, to align our efforts to bring about positive social, economic and environmental outcomes that contribute towards achieving the SDGs.
Our strategic focus areas
The Hochschild way is to promote close collaboration with our local communities with full respect for local customs and social dynamics. Our actions are guided by our Community Relations Policy and our active engagement strategy, which set out our intention to build trust, provide clear communication and actively listen to and understand community concerns
MATERIAL TOPICS
- Positively impacting local communities and supporting socio-economic development
- Respect human rights
Contributing to the SDGs
Goal 4
Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
Hochschild provides learning opportunities for all, including local communities, through our educational programmes
GOAL 8
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Wherever we operate, we aim to leave a lasting, positive legacy on the local communities through our economic contribution and status as a major source of employment
Protecting the environment
We are committed to protecting the environment through applying best-in-class environmental management practices. All our activities are guided by the principles set out in our Environmental Policy, continually seeking ways to produce metals with the least possible environmental footprint. Such efforts include improving our consumption of resources, whether through reducing water usage, improving energy efficiency, or increasing the amount of waste that is recycled
MATERIAL TOPICS
- Climate change resilience
- Water management
- Responsible management of waste & tailings
- Safeguarding natural resources through effective land use
Contributing to the SDGs
Goal 6
Ensure availability and sustainable management of water and sanitation for all.
Water is essential to Hochschild’s business and to our surrounding communities. We promote the responsible use of potable water in our mining assets and our progress is measured by our ECO Score
GOAL 12
Ensure sustainable consumption and production patterns.
We aim to increase resource efficiency through continual innovation. One focus of our Innova campaigns, for example, is to improve and reduce our consumption of water and reduce or repurpose the waste we generate.
GOAL 13
Take urgent action to combat climate change and its impacts
Acknowledging the global significance of climate change, we are committed to taking the necessary measures to continually reduce our greenhouse gas emissions footprint through maximising our operational energy efficiency, increasing our use of renewable energy sources
Given the inherently high-risk profile of mining and recognising that our people are our most valuable asset, ensuring employee safety is a key measure for our corporate success.
MATERIAL TOPICS
- Occupational health, safety and wellbeing
Contributing to the SDGs
Goal 3
Ensure healthy lives and promote well-being for all at all ages
Safety is our number one priority. We make every effort to safeguard the health and well-being of our employees, contractors and communities
GOAL 8
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
We promote safe and secure working environments for all of our workers and provide training to employees and contractors around identifying and addressing safety related risks in the workplace
Hochschild’s success relies on its people. We seek to promote our corporate purpose and provide a positive and stimulating working environment, where the development of employees is encouraged.
MATERIAL TOPICS
- Labour relations
- Recruitment, retention and engagement
- Diversity and inclusion
- Innovation through technological solutions
Contributing to the SDGs
Goal 5
Achieve gender equality and empower all women and girls
Diversity, inclusivity and a conducive work environment that promotes equal opportunities for all are fundamental to the sustainability of our Company
GOAL 8
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
We upskill our employees to broaden their career opportunities whilst also providing external training to students in local communities with the aim of gradually increasing the talent pool in our local communities
Wherever we operate, we aim to leave a lasting, positive legacy through our economic contribution and status as a major source of jobs and livelihoods
At Hochschild, we firmly believe that the sustainability of our business can only be built by doing the right thing – always acting honestly and ethically.
MATERIAL TOPICS
- Responsible business conduct and ethics – Advocacy for positive change
- Responsible supply chain management
Contributing to the SDGs
GOAL 8
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Hochschild is committed to protecting the labour rights of workers throughout the supply chain and supports this, where possible, by partnering with businesses in its local communities