TSX- and NYSE-listed midtier precious metals miner Endeavour Silver Corporation has published its new sustainability strategy for 2022 to 2024 that sets out its priorities, actions and targets over the next three years.
Endeavour operates two high-grade, underground silver/gold mines in Mexico.
The refreshed strategy is focused on three pillars – people, planet and business – and is part of the company’s multi-year transformation and growth plan, demonstrating the crucial role that leading mining companies like Endeavour Silver can play in supporting economic, social and environmental sustainability.
The strategy aligns with the miner’s “Endeavour Cares” cultural philosophy, which reflects a strong senior management and team commitment to sustainable practices, Endeavour says in a statement.
Endeavour will report regularly and transparently on the delivery of the sustainability strategy through its yearly sustainability report available on its website.
“We are raising the bar for ourselves. We want to deepen our sustainability commitments and elevate our performance in areas that matter most to our stakeholders and our business,” says CEO Dan Dickson.
These are areas where the miner is channelling its energy, increasing investments and increasing its efforts to deliver meaningful progress toward a more sustainable future, he adds.
The comprehensive strategy outlines key initiatives, including increasing positive social impacts for people, achieving zero fatalities and reducing accident rates.
In addition, the strategy aims to build an inclusive team by increasing participation of women above the industry average to 16% of the workforce and 25% in leadership positions, as well as targeting $2-million in community investments over three years to support local needs in communities in Mexico.
In terms of elevating environmental stewardship of the planet, the company plans to reduce its emissions year-on-year and develop a climate risk response plan, including reporting on climate-related risks and opportunities in line with the Task Force on Climate-Related Disclosures’ recommendations.
Further, it also intends to maintain zero tailings spills and further align practices across the entire tailings facility lifecycle with the new global industry standard on tailings management, as well as increase the number and survival rate of trees planted yearly.
As for extending Endeavour Silver’s healthy and long-term business success, the strategy aims to expand environmental, social and governance (ESG) disclosures; and continue building a caring culture through enhanced training for employees and contractors and faster resolution of concerns raised through its grievance mechanism.
Moreover, the strategy is also designed to increase the prominence of ESG criteria in the company’s supplier evaluation system and ensure all suppliers comply with the company’s code of conduct.
Endeavour Silver executive chairperson Brad Cooke says that since the early days when the company was founded, it applied a sustainability barometer to everything it did. “This approach has driven us on our mission to find, build and operate quality silver mines in responsible ways that create value for all stakeholders.
“Anchored on this foundation, our new sustainability strategy helps us take our philosophy and actions to the next level,” he says.
To ensure that business commitments result in tangible results, independent board director and sustainability committee chairperson Ken Pickering says Endeavour Silver’s sustainability strategy sets out concrete targets, supported by disciplined monitoring and reporting processes to evaluate its performance and maintain its focus on these activities.