Sustainability Reporting and Stewardship Australian Uranium Conference July Cathy Paxton General Manager Sustainable Development

Transcription

1 Sustainability Reporting and Stewardship Cathy Paxton General Manager Sustainable Development

2 Presentation Outline Importance and relevance of Sustainability Reporting and Stewardship to the Uranium Mining Industry. Uranium Sector Definition of Sustainability Triple and Quadruple Bottom Lines Sustainability Reporting Reporting Approach and Process Benefits of Reporting Corporate Governance Stewardship and the Non-Proliferation Treaty 1

3 Uranium/Nuclear - A High Profile Sector Industry always under strong scrutiny by industry itself Government community other stakeholders (NGOs, anti-mining, anti-nuclear organisations etc) Unique management issues require technical excellence with intolerance of errors need strong knowledge of uranium and life cycle issues address public perceptions Need to do things better/earlier technical, health and safety, environment, radiometric, social need accountability/stewardship Sustainability reporting is a key factor to impress responsibility and transparency Last 20 years there has been only a handful of new uranium producers. Important for uranium companies, even more than for other commodity producers, to integrate sustainability reporting into the business and is an essential tool to manage issues. 2

4 Sustainability and Sustainable Development Sustainability is defined as something that can be maintained at a certain rate and level. Sustainable Development concept is more appropriate for the mining industry. Sustainable Development described by the Brundtland Commission in 1997 as development which meets the needs of the present without compromising the ability of future generations to meet their own needs. 3

5 Bottom Line Triple Bottom Line (TBL) introduced by John Elkington in the mid-1990s with the benefits detailed in his 1998 publication Cannibals with Forks: Triple Bottom Line of 21 st Century Business TBL - Economic, Environmental and Social Quadruple Bottom Line QBL - Economic, Environmental, Social and Culture Sustainability Reporting brings all of the above together in a concise and transparent manner. 4

6 Sustainability Reporting What to do next and where do we start? Internationally recognised and universally consistent reporting framework. Global Reporting Initiative (GRI) encompasses nine aspects of sustainability GRI was founded in 1997, first Guidelines in 2000, current fourth version (G4) released in May

7 Approach Determine approach for Reporting. Must suit the Company s requirements and resources. Consider in-house vs consultants important for companies to develop their own reporting strategy/process as nobody knows your business better than you do. Approach needs to be weighed up as to available in-house resources best approach may be a combination of in-house and external assistance. 6

8 Paladin Reporting Process In-house as much as possible with external assistance from consultant to ensure we meet GRI requirements. First step data collection Preparation of questionnaires to capture the data required Year 1 - assess initial data Year 2 - improve data collection Year 3 - commence public reporting Materiality process to determine reporting parameters Process suitable and adequate for Paladin In-house materiality assessment involving key Executives and Board members Assessment outcome applied to scope Public Sustainability Report Draft Report prepared in-house consultants review report and assess for compliance with GRI Guidelines Publish Report on Paladin website. 7

9 Ongoing Process Review materiality assessment when changes occur within the business or to reporting requirements. Revise questionnaires on an annual basis to reflect changes in reporting requirements and outcome of materiality assessments. Process provides for the collection of data in addition to that publicly reported that is useful to the business. Process must be effective and useful not a tick in the box exercise. 8

10 Benefits of Reporting Sustainability Reporting and impact on Sustainable Development Key outcome of GRI Workshop (2013) Sustainability reporting shows a commitment to greater transparency and that it can be viewed as a tool for improving the quality of corporate sustainable leadership. Corporate transparency and accountability are the corner stones of a sustainable global economy, which in turn is fundamental to sustainable development. ( Performance assessment tool for the business. Open, transparent and consistent reporting on performance. Used by institutional investors and analysts to assess and compare companies. One stop shop for reporting. Referring to the public report impedes continual request from organisations for performance data. 9

11 Corporate Governance Corporate Governance not new Governance in the aspects of Sustainability has become better defined since the concept of Sustainable Development has taken hold Corporate Policies and Codes need to be developed to address each of the sustainability aspects. Important to roll out the Policies and Codes and train employees, contractors and suppliers 10

12 Stewardship Stewardship important to all of mining industry, particularly the uranium industry as we are considered special by all stakeholders, which is both positive and negative. Comply with laws, relevant industry guidelines and standard. Members of organisations that endorse the principles for stewardship and codes of practice. 11

13 MCA Stewardship Elements MCA Uranium Forum Code of Practice and Stewardship comprises the following key elements: Continual improvement to best practice in management. Safely manage, contain and transport all hazardous material, tailings and other wastes. Provide adequately for mine closure and rehabilitation. Continual improvement in best practice in radiation control. Support fit-for-purpose regulatory arrangements. Provide information about uranium and its properties to stakeholders. Support the safe and peaceful use of nuclear technology. Active engagement with local and indigenous communities. Implement effective and transparent reporting. Engage collaboratively with other sectors of the nuclear fuel cycle. Key elements in red addressed in Sustainability Report 12

14 Uranium Stewardship and the NPT Bottom Line, Sustainable Development, Governance and Sustainability Reporting all fit under the banner of Stewardship. All sales and transfers of uranium product is in strict compliance with the Treaty of Non-Proliferation of Nuclear Weapons (NPT) and Safeguard agreements Under United Nations control with country to country agreements 13

15 Take Away Uranium nuclear sector is highly scrutinised and specific management measures required Openness and transparency enhances stakeholder relationships Sustainability reporting provides an avenue for stakeholder assessment of company performance Accountability and stewardship needs are embraced by the aspects of sustainability reporting Thank You 14