TIDMWPM
RNS Number : 4683Z
Wheaton Precious Metals Corp.
15 May 2023
May 15, 2023
Vancouver, British Columbia
Wheaton Precious Metals Publishes
2022 Sustainability Report Highlighting Commitment to
Progress
Vancouver, British Columbia - Wheaton Precious Metals(TM) Corp.
("Wheaton" or the "Company") is pleased to announce the publication
of its 2022 Sustainability Report (the "report").
"At Wheaton, we recognize the responsibility we have to
positively contribute to our communities and support industry best
practices in ESG," said Randy Smallwood, Wheaton's President and
Chief Executive Officer. "We believe that sustainability is a
journey that requires an unwavering commitment to progress, and we
can only succeed by doing this together. I am incredibly proud of
Wheaton's performance and continued leadership in ESG."
Report Highlights
The 2022 report is a comprehensive review of Wheaton's
performance in environmental, social and governance ("ESG") topics
including:
ESG Strategy & Governance:
-- Progress updates on Wheaton's ESG strategy, targets and commitments.
-- Updated materiality assessment using a 'double materiality' approach.
-- Established a sustainability linked element in connection with the revolving credit facility.
Environment:
-- Expanded information on the pathway to achieve net zero
carbon emissions by 2050(1) and progress to date on this topic,
with a focus on Scope 3 financed emissions.
-- 68% of 2021 Scope 3 financed emissions covered by emissions
reductions targets aligned to 2degC or less.
Diversity, Equity and Inclusion:
-- Achieved target of 30% female Board members two years early.
-- Set a new goal to increase the percentage of gender diversity
and visible minorities at Wheaton, inclusive of leadership, and
advance diversity and inclusion initiatives.
Community Investment Program:
-- Over $5.9 million distributed throughout the year in support
of over 100 charitable causes and initiatives around the world.
-- Over $38 million in contributions to local charities and
mining communities since inception of the Community Investment
Program in 2009.
Investment Decisions and Due Diligence:
-- 100% of new streaming agreements in 2022 screened for ESG issues and risks.
-- 85% of Wheaton's mining partners are committed to
implementing one or more industry sustainability standards,
representing 89% of attributable 2022 production.
Recognition:
-- 'ESG Industry Top-Rated' in precious metals and 'ESG Global
50 Top Rated' out of over 15,000 multi-sector companies by
Sustainalytics, 'AA' rated by MSCI and 'Prime' rated by ISS.
-- Recognized as one of the Best 50 Corporate Citizens in Canada by Corporate Knights.
-- Achieved a B score on CDP's Climate Change Questionnaire.
Information and data in Wheaton's 2022 Sustainability Report was
informed by the Sustainability Accounting Standards Board ("SASB"),
Global Reporting Initiative ("GRI") and the Task Force on
Climate-Related Financial Disclosures ("TCFD"). A separate
TCFD-aligned Climate Change Report will be released later this year
and will include detailed climate-related disclosures.
About Wheaton Precious Metals Corp.
Wheaton Precious Metals is the world's premier precious metals
streaming company with the highest-quality portfolio of long-life,
low-cost assets. Its business model offers investors leverage to
commodity prices and exploration upside but with a much lower risk
profile than a traditional mining company. Wheaton delivers amongst
the highest cash operating margins in the mining industry, allowing
it to pay a competitive dividend and continue to grow through
accretive acquisitions. As a result, Wheaton has consistently
outperformed gold and silver, as well as other mining investments.
Wheaton is committed to strong ESG practices and giving back to the
communities where Wheaton and its mining partners operate. Wheaton
creates sustainable value through streaming.
Endnotes
(1) Net zero includes emissions reductions in line with a
1.5degC trajectory across Scopes 1, 2 and 3. Achievement of net
zero may include the use of offsets for residual emissions in
2050.
For further information, please contact:
Patrick Drouin
Senior Vice President, Sustainability and Investor Relations
Simona Antolak
Senior Director, Communications and Corporate Affairs
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: info@wheatonpm.com
Website: www.wheatonpm.com
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.
Forward-looking statements, which are all statements other than
statements of historical fact, include, but are not limited to,
statements with respect to ESG commitments by Wheaton and at
mineral stream interests currently owned by Wheaton (the "Mining
Operations"). 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 (without limitation)
risks related to climate change, environmental, social and
governance matters, the ability to achieve ESG commitments and
goals at both Wheaton and the Mining Operations 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 Wheaton's Form 40-F for the year ended
December 31, 2022 filed March 31, 2023 on file with the U.S.
Securities and Exchange Commission on EDGAR and the risks
identified under "Risks and Uncertainties" in Wheaton's
Management's Discussion and Analysis for the year ended December
31, 2022, available on SEDAR and in Wheaton's Form 6-K filed March
9, 2023. Forward-looking statements are based on assumptions
management currently believes to be reasonable, including (without
limitation) that ESG commitments and goals at both Wheaton and the
Mining Operations will be achieved, there will be no material
adverse change in the market price of commodities, that estimations
of future production from the Mining Operations and mineral
reserves and resources are accurate, that the mining operations
from which Wheaton purchases precious metals will continue to
operate, that each party will satisfy their obligations in
accordance with the precious metals purchase agreements, and that
Wheaton's application of the CRA Settlement is accurate (including
the Company's assessment that there will be no material change in
the Company's facts or change in law or jurisprudence for years
subsequent to 2010) and possible domestic audits for taxation years
subsequent to 2016 and international audits.
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END
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