We understand that in order for our key external stakeholders to make informed decisions, we must commit to publicly disclosing transparent, timely, meaningful and accurate information.
Our ESG Priorities
To help us to report on the key issues that matter most to our stakeholders, in fall 2019 we launched a comprehensive ESG Issues Assessment. Our previous full issues assessment was completed in 2016. Due to the nature of the mining industry, full issues assessments will be completed in three-year cycles with limited annual reviews completed to ensure any new and emerging topics are considered and reported on. The annual review will include media monitoring, internal risk assessments and any external feedback received but will not undertake a full stakeholder engagement exercise.
The 2019 ESG Issues Assessment was a six-step process that included a comprehensive desktop review and a stakeholder engagement process to help identify, prioritize and validate Centerra’s important topics. The desktop review considered inputs from our community registers, employee and stakeholder surveys, workshop feedback, external audits/inspections, and industry reports and standards. The internal and external stakeholders and groups engaged consisted of employees, communities, regulators, financiers, shareholders/investors, civil society, business partners, rating analysts and non-governmental organizations.
The stakeholder engagement process was conducted by an independent third party and consisted of 12 one-on-one interviews with internal and external stakeholders and a survey that was distributed to over 3,000 participants, which had a completion rate of close to 10%.
In addition, during the assessment process we undertook a full-day ESG Leadership Session that included our executives and senior management, to facilitate the integration of corporate and operational strategies into our assessment and help validate the desktop and stakeholder engagement findings.
In 2020, the prioritized topics from the assessment were mapped against SASB’s Metals & Mining Industry Standard and it was concluded that there is strong alignment between the ESG topics identified by Centerra as part of its ESG Issues Assessment and SASB’s ESG topics for the Metals & Mining Industry Standard.
Priority topics from the assessment include community relations, community investment, water management, hazardous materials, emissions and energy, biodiversity, and diversity and inclusion.
Annual Transparency Reporting on Government Payments
On an annual basis, we prepare and submit a report prepared in accordance with the Extractive Sector Transparency Measures Act (ESTMA), a Canadian legislation. This ESTMA report sets out payments we make to our host governments.
Centerra is a signatory of the Extractive Industries Transparency Initiative (EITI). The EITI contributes to improved governance in resource-rich countries through the verification and publication of all company payments to governments as well as government-reported revenues from oil, gas and mining. The EITI standard is implemented by signatory governments with an international multi-stakeholder structure at the core of the initiative.
Operating in jurisdictions that support accountability and transparency is key.
As of 2019, we had no operations or exploration in countries ranked among the 20 lowest by the Corruption Perceptions Index (CPI). In 2019, Canada ranked 77 (12th among 180 countries), the United States of America ranked 69 (23rd), Turkey ranked 38 (91st) and Kyrgyz Republic ranked 30 (126th). The CPI is the most widely used indicator of corruption worldwide. The index ranks 180 countries and territories by their perceived levels of public sector corruption, according to experts and business people.1
We recognize our role in helping promote fair practices in the countries where we operate. We have played an active role in promoting the EITI in the Kyrgyz Republic. The Company’s mine in the Kyrgyz Republic was among the first to sign on, report and help improve EITI infrastructure.