Sherritt Updates and Publishes Sustainability Targets and a Climate Plan
Sherritt has had sustainability goals for several years. The establishment of organizational targets and external reporting of progress against those targets is critical to improving sustainability performance.
In 2020, Sherritt conducted several cross-functional workshops to develop and validate targets for its sustainability goals. This was complemented by external benchmarking and analysis. As a result, Sherritt is pleased to announce a suite of aspirational and interim targets that will continue to stimulate excellence and innovation.
The most notable target is: Achieve net zero greenhouse gas (GHG) emissions by 2050.
Some other highlights from the targets include:
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Goal 1: Management Systems
- All operations independently verified to have achieved Level A of the Mining Association of Canada’s Towards Sustainable Mining (TSM) framework by 2024
- Achieve ISO 45001 (occupational health and safety management systems) and ISO 14001 (environmental management systems) certification at the Fort Site by 2023
- Achieve ISO 45001 and ISO 14001 certification at Moa Nickel by 2025
- Goal 2: Health and Safety
- Zero fatalities year-on-year
- Total Recordable Incident Frequency Rate (TRIFR), Lost Time Incident Frequency Rate (LTIFR), and All Injury Frequency Rate (AIFR) below our three-year average
- Goal 3: Environmental Management
- Reduce overall GHG emissions intensity by 10% by 2030
- Meet 15% of our overall energy needs through renewable sources by 2030
- Goal 4: Community Benefits
- Zero fatalities involving members of the community
- Align 100% of our community investments with local priorities by 2024
- Goal 5: Diversity and Inclusion
- Increase women on the board and executive team to at least 30% by 2022
- Increase women in the workforce to 36% by 2030
- Goal 6: Responsible Sourcing
- Comply with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas by 2024
- Comply with London Metal Exchange (LME) responsible sourcing requirements by 2024
Recognizing that we have a role to play in addressing the global climate challenge, we held workshops and conducted external benchmarking in 2020 in order to facilitate the development of a climate plan. The result is a climate plan that positions the company well for the future and aligns with the Task Force on Climate-related Financial Disclosures (TCFD) and several other recognized frameworks. The plan includes climate risk and opportunity assessments, adaptation measures to respond to a changing climate, mitigation measures to reduce our carbon footprint, innovation measures to position Sherritt’s technologies and products well for the future, and communication and disclosure steps.
For more information, please see the Five-Year Sustainability Goals and Targets section and Sherritt’s 2020 Climate Report.