Climate change
Our engagement
Who we engage on climate matters, on what basis, and the requirement that the transition is not conducted at the expense of others.
Why engagement is part of the plan
A substantial part of our climate exposure lies outside our own boundary: in the energy we buy, in the goods and services we procure, and in the regulatory environment in which our activities are authorised. None of that is addressable by internal action alone. Engagement is accordingly a component of the transition plan rather than a communication activity attached to it.
Key facts
Status of engagement
Engagement is part of the transition plan, not a communication activity attached to it.
Just transition
The just transition requirement is structured against the UN Guiding Principles and the ILO just transition instruments.
Equator Principles
The Equator Principles are named conditionally only; we are not a signatory.
Advocacy
We do not lobby against climate regulation, and hold industry associations to the same expectation.
Engagement and just transition
The plan proceeds on the basis that the transition to a low-carbon economy must be inclusive, equitable and respectful of human rights. It requires that climate action is not pursued at the expense of vulnerable communities, workers or Indigenous peoples.
Read our Group policiesWho is engaged, and on what
Just transition
It is structured against the UN Guiding Principles on Business and Human Rights, the ILO Guidelines for a just transition towards environmentally sustainable economies and societies for all, and the International Labour Conference resolution on a just transition of June 2023.
We hold assets in regions with a significant Indigenous presence. Engagement with Indigenous communities on climate matters follows the same requirements as engagement on any other matter affecting their rights, and is structured against Performance Standard 7 of the IFC Performance Standards, read with the UN Declaration on the Rights of Indigenous Peoples.
Where project financing is arranged with a financial institution that has adopted the Equator Principles, the environmental and social requirements that institution applies would attach to that financing, which for projects outside designated countries are the IFC Performance Standards and the World Bank Group Environmental, Health and Safety Guidelines. We are not a signatory to the Equator Principles, which bind adopting institutions rather than borrowers.
Advocacy and political engagement
We do not lobby against climate regulation. Engagement with regulators is conducted under the Political Engagement Policy, which requires political engagement to be lawful, transparent and consistent with our stated positions, and which prohibits political contributions made to obtain an advantage. Membership of any industry association carries the same expectation, and a position taken by an association that is inconsistent with our own is a matter to be raised within that association rather than tolerated silently.
Training and capability
We provide training in low-carbon technologies and sustainable mining practice to our workforce, and we record participation. We direct community investment to climate adaptation and resilience alongside the other priorities identified with the communities concerned.
Reporting
Where an activity generates them, supplier participation rates, training completion rates and community investment figures are published, and we maintain engagement records so that reporting is prepared on a consistent basis.