Barrick Reports Significant Advances to United Nations Global Compact

Rhea-AI Summary

Barrick Gold Corporation (NYSE:GOLD) has published its 2020 'Communication on Progress' report for the United Nations Global Compact. The report highlights advances made towards the UNGC’s Ten Principles on human rights, environment, and anti-corruption. Key actions include a new greenhouse gas emissions reduction target of 30% by 2030, alignment of water reporting with ICMM standards, and establishment of community development committees at operational sites. Barrick has been a signatory to the UNGC since 2005, integrating its principles into corporate sustainability strategies.

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• Set a new greenhouse gas emissions reduction target of 30% by 2030.
• Aligned water reporting with ICMM standards.
• Biodiversity action plans for all operational sites to be established by year-end.

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• None.

TORONTO, June 02, 2021 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) today published its 2020 “Communication on Progress” report for the United Nations Global Compact (UNGC), setting out the advances it has made towards the UNGC’s Ten Principles on human rights, labour, the environment and anti-corruption.

Introducing the report, Barrick president and chief executive Mark Bristow says the company has been a signatory to the Compact since 2005 and the principles, which are in line with Barrick’s sustainability strategy, have been incorporated in the management of all its operations.

The report, which is the first Global Compact Advanced-level Communication on Progress, details the key actions taken by Barrick in 2020, which included updating its climate change strategy and setting a new greenhouse gas emissions reduction target of 30% by 2030. Water reporting has been aligned with the standards of the International Council on Mining and Metals (ICMM) Water Accounting Framework. Biodiversity action plans for all operational sites are set to be in place by the end of this year and all these sites have now been certified to the ISO 14001:2015 standard.

Barrick has also updated its human rights policies and training, and introduced new management standards aligned with the Voluntary Principles of the Plenary Committee. Community development committees, representing local stakeholders, have been established at all operational sites to select investment projects, in line with the company’s partnership philosophy.

These actions and how they support the UN Sustainable Development Goals are further described in our 2020 Sustainability Report.

Enquiries

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

Website: www.barrick.com

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in press release, including any information as to our sustainability strategy and vision, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “advance”, “strategy”, “set to be in place”, “target”, “will”, “can”, “should”, “could”, “would”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: (i) Barrick’s sustainability strategy and vision; (ii) Barrick’s environmental, health and safety, corporate social responsibility and human rights programs, policies and performance; (iii) Barrick’s climate change strategy and associated greenhouse gas emission reduction targets and (iv) the estimated timing to achieve environmental, social and energy reduction targets, including our greenhouse gas emission reduction targets.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: damage to the Barrick’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick’s handling of environmental matters or dealings with community groups, whether true or not; changes in national and local government legislation, taxation, controls or regulations, and/ or changes in the administration of laws, policies, and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States, and other jurisdictions in which Barrick does or may carry on business in the future; risks associated with diseases, epidemic and pandemics, including the effects and potential effects of the global Covid-19 pandemic; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation and legal and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; risks associated with working with partners in jointly controlled assets; whether benefits expected from recent transactions are realized; employee relations; increased costs and physical risks, including extreme weather events and resource shortage, related to climate change; risks associated with artisanal and illegal mining; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves; increased costs, delays, suspensions, and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of key licences by governmental authorities; failure to comply with environmental and health and safety laws and regulations; and our ability to successfully close and integrate acquisitions or complete divestitures. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us.

Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward- looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Barrick Gold Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

FAQ

What sustainability goals has Barrick Gold set in 2020?

Barrick Gold aims for a 30% reduction in greenhouse gas emissions by 2030 as part of its sustainability goals.

How does Barrick Gold report on water management?

Barrick Gold's water reporting is aligned with the International Council on Mining and Metals (ICMM) standards.

What is the significance of Barrick Gold's Communication on Progress report?

The report outlines Barrick Gold's advances in human rights, labor standards, and environmental management in line with the UNGC principles.

Since when has Barrick Gold been a signatory to the UN Global Compact?

Barrick Gold has been a signatory to the United Nations Global Compact since 2005.

What measures has Barrick Gold implemented for community development?

Barrick Gold has established community development committees at all operational sites to select local investment projects.