White architectural fins rising against a pale sky

Our approach

Sustainable development framework

Four tiers of documents, and the external standards each of them is written against.

The four tiers The six policy categories The standards the framework is written against Keeping the framework current

The four tiers

Key facts

Four tiers: the Code, the policies, the external-facing documents, the climate plan.

Six policy categories, each with named accountable functions.

No standard named in this section is binding law of itself.

No ISO certification is held; several of the ISO documents named are guidance only.

The Code of Conduct

States the standards of behaviour expected of everyone who represents Xstreco, and the five values those standards rest on. It applies to employees, directors and officers, to contractors, consultants and temporary workers under our supervision, to joint ventures where we exercise operational control, and to third parties acting on our behalf. It is the document a person reads to know what is expected of them.

Our Group policies

A suite of policies grouped into six categories, each setting out the scope of an area, the principles that apply within it, the functions accountable for it, the reporting and monitoring it requires, the training it requires, and the legislation and standards it is structured against. They are the documents a function reads to know what it must operate.

The external-facing documents

The Supplier Code of Conduct, which extends our standards to the supply chain and requires suppliers to cascade them further; and the Modern Slavery Statement, published voluntarily, which describes how we identify and address forced labour, human trafficking and child labour in our activities and supply chains.

The Climate Action Transition Plan

A standing plan covering climate governance, emissions accounting, target-setting methodology, scenario analysis, decarbonisation, just transition, value chain emissions, metrics and disclosure. It describes the methodology and governance by which climate matters are managed and by which any target would be set, reviewed and disclosed.

The six policy categories

Ethics, integrity and compliance

Bribery and corruption, fraud, conflicts of interest, money laundering, sanctions, political engagement and confidential reporting.

People, safety and human rights

Health, safety and emergency management; human rights and Indigenous rights; and equality, diversity and inclusion.

Environment and sustainable development

Environmental risk, climate, water, biodiversity, waste and emissions.

Communities and supply chain

Community engagement and social performance, and responsible sourcing.

Markets, disclosure and tax

Competition law, corporate communications and tax transparency.

Risk and information management

Enterprise risk management, and information governance.

The standards the framework is written against

None of the standards below is binding law of itself; they bind us where a contract or a financing agreement so requires, and otherwise they set the reference against which we write our own requirements. We are not a member, participant or signatory of the initiatives named, and we hold no certification against any of the certifiable standards listed.

Standard

What it governs

How we apply it

UN Guiding Principles on Business and Human Rights

The corporate responsibility to respect human rights, and access to remedy

The reference for human rights due diligence and for the effectiveness criteria applied to grievance mechanisms

OECD Guidelines for Multinational Enterprises on Responsible Business Conduct

Responsible business conduct across disclosure, human rights, environment, bribery and taxation

Named across the policy suite as the reference framework for the area concerned

OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas

Five-step risk-based due diligence for mineral supply chains, and the Annex II risks

The reference applied where sourcing involves conflict-affected or high-risk areas

ILO fundamental Conventions

Forced labour, freedom of association, collective bargaining, equal remuneration, child labour, discrimination, and occupational safety and health

The reference for labour standards in our own activities and in the Supplier Code of Conduct

ILO Convention No. 169 and the UN Declaration on the Rights of Indigenous Peoples

The rights of Indigenous and tribal peoples. The Convention is ratified by Peru; the Declaration is a declaration rather than a treaty

The reference for engagement with Indigenous and original peoples, alongside the Peruvian prior consultation regime

Ten principles of the UN Global Compact

Human rights, labour, environment and anti-corruption

Our conduct standards are aligned with the ten principles

IFC Performance Standards on Environmental and Social Sustainability

Environmental and social risk management, including land acquisition and resettlement, Indigenous peoples and cultural heritage

The reference standard for social and environmental impact assessment

Voluntary Principles on Security and Human Rights

The conduct of public and private security in support of extractive operations

The reference applied to security arrangements at our sites

Transparency principles of the Extractive Industries Transparency Initiative

Disclosure of payments and revenues in the extractive sector. Peru is an EITI implementing country

The reference for our approach to transparency in dealings with government

GRI Standards, including GRI 14 Mining Sector 2024

The structure and content of sustainability reporting

The reference against which sustainability information is organised

IFRS S2 Climate-related Disclosures

Climate-related governance, strategy, risk management, metrics and targets

The reference against which the Climate Action Transition Plan and our climate information are structured

European Sustainability Reporting Standards, in particular ESRS E1, S2 and S3

Climate change, workers in the value chain and affected communities

A structuring reference for the presentation of sustainability information; we do not report under them

Greenhouse Gas Protocol, Corporate Standard and Scope 3 Standard

Corporate and value chain greenhouse gas accounting

The methodology applied to the emissions inventory, with the organisational boundary, consolidation approach and emission factors recorded

Global Industry Standard on Tailings Management

The design, operation and closure of tailings storage facilities

Applied where an activity involves a tailings storage facility. We operate none

Equator Principles

Environmental and social risk in project finance, binding on adopting financial institutions

Conditional only: where project financing is arranged with an institution that has adopted the Equator Principles, the associated requirements would apply to that financing

ISO 14001 and ISO 45001

Environmental management systems, and occupational health and safety management systems

The reference against which the corresponding arrangements are structured

ISO 37001 and ISO 37301

Anti-bribery management systems and compliance management systems

Reference standards for the integrity and compliance arrangements

ISO 31000, ISO 20400, ISO 37002 and ISO 30415

Risk management, sustainable procurement, whistleblowing management, and diversity and inclusion

Guidance documents rather than certifiable standards

Keeping the framework current

Each document states the review cycle that applies to it, and is reviewed again after a significant incident or a change in regulation. Changes are documented with their rationale and communicated through internal channels, and a standard that is withdrawn or superseded is replaced at the next review.