Sustainability approach

Sustainability strategy

We believe that environmental and social responsibility is integral to the success of our business. We strive to adhere to best-in-class industry standards in order to create additional value for all our shareholders and stakeholders.

The Group is committed to be:

a people-orientated company that provides development opportunities, adheres to safety standards, and can attract, motivate and retain the best employees and management available

a socially responsible company that contributes to social development in its areas of operation

an environmentally responsible company that identifies and mitigates environmental impacts from its operations, through conscientious management of its assets throughout the life cycle of mining activity

Our Sustainability strategic objectives:

  1. Sustainable growth and efficient management of environmental and social risks at each stage of the life cycle of an asset: exploration, engineering and design, production and processing, closure and rehabilitation.
  2. Strong financial results while adhering to sustainability principles in our operations.
  3. Achieving a zero injury rate through a world-class safety culture.
  4. To be a reliable partner to all stakeholders, including local communities in our areas of operation, and maintain an open dialogue with all stakeholders, taking their interests into account when making decisions.
  5. To cultivate a team of professionals committed to helping Polyus achieve leading industry positions while adhering to sustainability principles.

Sustainability Management System

Our corporate Sustainability Management System (SMS) is part of the Company’s operating model and was developed in line with the International Finance Corporation (IFC) Performance Standards 1-8, the Sustainability Principles and Position Statements of the International Council on Mining and Metals (ICMM) and other relevant national and international standards and guidelines.

To ensure effective and continuous management of sustainability-related issues, the SMS covers all key stages of the annual management cycle: from planning and goal-setting to managing improvements, as well as the whole life-cycle of the Company’s assets — from geological exploration to mine closure.

Sustainability risk management

Fundamental to effective sustainability governance is the continuous management of environmental, social, and economic risks. We manage sustainability risks as part of our corporate risk management system. Under the system, sustainability risks are regularly identified, assessed and monitored — both at Managing Company and BU/PS level.

The voluntary property insurance program provides coverage of Polyus Group expenditures on depollution. Given the most significant environmental damage could hypothetically arise from tailing storage facility failures, Polyus has initiated development of a special programme of environmental impairment liabilities insurance with a limit of $100 mln.

Supply chain management

We aim to conduct business only with those supply chain partners that are fully compliant with national, regional and local legislation requirements and ready to share our values such as the avoidance of negative environmental impacts, creation of social benefits, focus on operational safety and respect for human rights. We have developed a corporate policy to ensure that Group HSE standards are also met by all suppliers.

Commitment to external initiatives

We recognise that a number of environmental and social issues faced by the business community, and in particular by Polyus, can be solved more efficiently through collaboration and joint action from all involved parties. Therefore we work actively with a wide range of industrial associations and national and international advocacy organisations, including:

  • The International Council on Mining and Metals (ICMM; an international industry organisation)
  • Gornoye delo (‘Mining’ — a national association that promotes the mining industry)
  • The Russian Union of Industrialists and Entrepreneurs (RSPP; an independent, non-governmental organisation)
  • The Russian Union of Gold Producers (a non-profit organisation)
  • The National Association for Subsoil Examination (a non-profit partnership)
  • The All-Russia Intersectoral Association of Employers — producers of nickel and precious metals (a trade union)