Mining Plays a Vital Role in Advancing the UN’s Sustainable Development Goals, says Barrick
TORONTO, Aug. 02, 2024 - Barrick Gold Corp. (NYSE:GOLD)(TSX:ABX) - Given its importance to the economies of many developing countries and the proximity of its activities to people and natural habitats, the mining sector is uniquely placed to support the United Nations' Sustainable Development Goals (SDGs), said Barrick president and chief executive Mark Bristow at the Company's fourth annual sustainability update today.
Presenting Barrick's recently published Sustainability Report for 2023, Bristow said Barrick's approach to sustainability was based on an integrated and holistic strategy that seeks to deliver outcomes that are achievable, demonstrable and aligned with global priorities.
"With our alignment to the SDGs as a central framework to our sustainability reporting, we are better able to address the challenges of alleviating poverty, managing changes to the climate and preserving biodiversity concurrently, because these are inextricably linked," he said.
"In 2023, Barrick distributed more than $15 billion in economic value with nearly $12 billion going to host countries. It also realized its 2025 target of reducing its greenhouse gas emissions by 15% against a 2018 baseline and achieved an 84% water reuse and recycle rate," said Barrick sustainability executive Grant Beringer.
During the webinar, Bristow outlined Barrick's upcoming key sustainability projects, including the Environmental and Social Impact Assessments for the Lumwana expansion and Reko Diq project, the conclusion of a number of resettlement projects, the restart of Porgera, the roll out of Barrick's biodiversity assessment tool and the consolidation of standards between leading mining frameworks.
"Our holistic approach to sustainability is entrenched throughout our global operations, and our long-term, scientific and measured strategy is delivering great results on the ground. But last year's performance doesn't mean we can rest on our laurels. We need to do even better as we chase continuous improvement," said Bristow.
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