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economic benefits
Q: How have investors’ demands for greater transparency and accountability on topics related to environmental, social, and governance (ESG) performance affected Pan American Silver and the mining industry?
A: ESG is becoming increasingly important to investors. We’re at a point where interest in ESG information comes not only from institutional or socially responsible investors, but also mainstream investors. It makes good financial sense for investors to want an understanding of how a mining company manages its key sustainability risks, namely, climate change, water, tailings, community and government relations, and tax transparency. In the future, the investment community will place increasing importance on ESG performance. Pan American Silver has long held strong ESG performance as a fundamental part of our business. Personally, I welcome more diligent ESG standards, which will bring greater focus and should then translate into improved sustainability performance across the industry.
As part of our evolving approach to ESG performance, Pan American Silver supports the approach presented in the Task Force on Climate related Financial Disclosure (TCFD) recommendations. We are working towards implementing TCFD recommendations and will publish a TCFD report in 2021. We are committed to doing our part to reduce our carbon footprint by setting realistic short and medium term targets, improving our existing public disclosure, and ensuring that climate risks are incorporated into our business plan.
