TSX | NYSE | LSE: WPM
VANCOUVER, BC, May 24, 2022
/PRNewswire/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the
"Company") is pleased to announce the publication of its 2021
Sustainability Report, a comprehensive review of Wheaton's
environmental, social and governance ("ESG") performance metrics.
An electronic version of the report is available here.
"At Wheaton, we have a strong belief in being an agent of change
which means leading with our values and working to commit to the
highest standards in all facets of ESG," said Randy Smallwood, Wheaton's President and Chief
Executive Officer. "The 2021 Sustainability Report highlights
Wheaton's enhanced commitments to ensuring our people, our
partnerships and our communities thrive as our business continues
to evolve and grow. While we are proud of the progress and efforts
we have made in the past year, we recognize that there is always
more to be done."
"Our latest report details Wheaton's formal ESG strategy
developed this past year that includes several new initiatives,
particularly a commitment to achieve net zero carbon emissions by
2050, alongside other long-standing, established goals," said
Patrick Drouin, Wheaton's Senior
Vice President, Sustainability and Investor Relations. "Our
commitment to promoting responsible mining practices starts with
us, which is why beginning with our 2021 Sustainability Report, we
are increasing our disclosures and reporting around our Scope 3
financed emissions. 2021 was an inflection point for many including
for us at Wheaton, and we hope that our deliberate approach to ESG
continues to serve as a catalyst throughout our industry."
Highlights outlined in the report include the following:
- Establishment of a formal ESG strategy with targets and
commitments across several material ESG topics
- Set formal commitment to achieve net zero carbon emissions by
20501. This includes the establishment of targets across
both Scope 2 and Scope 3 attributable emissions to support a 1.5° C
trajectory.
- Conducted climate scenario analysis of both a business-as-usual
and net zero scenario to identify physical and transitional climate
risks and opportunities.
- Inaugural reporting of our Scope 3 financed emissions
associated with our mining partners, including disclosing the
detailed methodology developed to calculate these emissions.
- Made an initial $4M commitment to
support our mining partners' efforts to move to renewable energy
sources and reduce emissions at the mines in which we have an
interest (becoming the first metals streaming company to do
so).
- Distributed over $6.2 million in
2021 in support of over 100 charitable causes and initiatives
around the world.
- Surpassed the $32 million mark in
contributions to local charities and mining communities since
inception of the Community Investment Program in 2009.
- As announced at our recent Annual General Meeting, Wheaton now
has 30% female Board members, achieving our 2024 target two years
early.
Wheaton is rated #1 for Precious Metals (out of 123 companies)
and ESG Global 50 Top Rated Company by Sustainalytics. Wheaton is
also "AA" rated by MSCI ESG Ratings, rated "Prime" by ISS ESG and
included in the Euronext Vigeo World 120 Indices.
Information and data in Wheaton's 2021 Sustainability Report was
informed by the Sustainability Accounting Standards Board (SASB),
Global Reporting Initiative (GRI) and Task Force on Climate-Related
Financial Disclosures (TCFD).
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1
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Net zero includes
emissions reductions in line with a 1.5 trajectory across Scopes 1,
2 and 3. Achievement of net zero may include the use of offsets for
residual emissions in 2050.
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CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation concerning
the business, operations and financial performance of Wheaton and,
in some instances, the business, mining operations and performance
of Wheaton's precious metals purchase agreement ("PMPA")
counterparties. Forward-looking statements, which are all
statements other than statements of historical fact, include, but
are not limited to Wheaton's climate change and environmental
commitments, the future price of commodities, the estimation of
future production from mineral stream interests owned by Wheaton
(the "Mining Operations") (including in the estimation of
production, mill throughput, grades, recoveries and exploration
potential), the estimation of mineral reserves and mineral
resources (including the estimation of reserve conversion rates)
and the realization of such estimations and the commencement,
timing and achievement of construction, expansion or improvement
projects by Wheaton's PMPA counterparties at Mining Operations.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "projects", "intends", "anticipates" or
"does not anticipate", or "believes", "potential", or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of Wheaton to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to risks associated with the ability to achieve
climate change and environmental commitments at Wheaton and at the
Mining Operations, fluctuations in the price of commodities
(including Wheaton's ability to sell its precious metals or cobalt
production at acceptable prices or at all), the Mining Operations
(including fluctuations in the price of the primary or other
commodities mined at such operations, regulatory, political and
other risks of the jurisdictions in which the Mining Operations are
located, actual results of mining, risks associated with the
exploration, development, operating, expansion and improvement of
the Mining Operations, environmental and economic risks of the
Mining Operations, and changes in project parameters as plans
continue to be refined), and other risks discussed in the section
entitled "Description of the Business – Risk Factors" in Wheaton's
Annual Information Form available on SEDAR at www.sedar.com, and in
Wheaton's Form 40-F for the year ended December 31, 2021 and Form 6-K filed March 5, 2022 both available on EDGAR at
www.sec.gov, as well as the risks set out in Wheaton's management's
discussions and analysis for the period ended December 31, 2021 available on SEDAR and EDGAR
(together, the "Disclosure"). Forward-looking statements are based
on assumptions management currently believes to be reasonable,
including (without limitation): that Wheaton will be able to
achieve climate change and environmental commitments, there will be
no material adverse change in the market price of commodities, that
the Mining Operations will continue to operate and the mining
projects will be completed in accordance with public statements and
achieve their stated production estimates, that the mineral reserve
and mineral resource estimates from Mining Operations (including
reserve conversion rates) are accurate, and such other assumptions
and factors as set out in the Disclosure. There can be no assurance
that forward-looking statements will prove to be accurate and even
if events or results described in the forward-looking statements
are realized or substantially realized, there can be no assurance
that they will have the expected consequences to, or effects on,
Wheaton. Readers should not place undue reliance on forward-looking
statements and are cautioned that actual outcomes may vary. The
forward-looking statements included herein are for the purpose of
providing readers with information to assist them in understanding
Wheaton's expected financial and operational performance and may
not be appropriate for other purposes. Any forward-looking
statement speaks only as of the date on which it is made, reflects
Wheaton's management's current beliefs based on current information
and will not be updated except in accordance with applicable
securities laws. Although Wheaton has attempted to identify
important factors that could cause actual results, level of
activity, performance or achievements to differ materially from
those contained in forward‑looking statements, there may be other
factors that cause results, level of activity, performance or
achievements not to be as anticipated, estimated or intended.
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SOURCE Wheaton Precious Metals Corp.