Stakeholder engagement
From shareholders to suppliers, communities to customers, a commitment to listen to our stakeholders and incorporate their input into our decision-making is at the heart of our approach to sustainability governance.
Our aim is to build strong and lasting relationships grounded in trust and transparency. This is only possible through regular, open and honest communication.
We consider a stakeholder to be any person or organization potentially impacted by our activities, or who can affect the success of our business. We have identified 10 important stakeholder groups:
- Host governments
- Local communities
- Employees
- Suppliers
- Shareholders and investors
- Civil society organizations
- Joint venture partners
- The media
- ESG raters and research community.
How we engage with our stakeholders varies and is tailored to each stakeholder group, at the group, regional and site level. From presentations to larger scale roadshows to engage with diverse groups, we are committed to including the input of all stakeholders in our decision making.
Trade associations
We are a member of trade associations that engage with lawmakers on behalf of the entire industry. These engagements can range from discussion of mining laws through taxation to safety standards. Trade associations do not undertake specific lobbying for Barrick, but for the entire mining sector. A condition of our membership is that all lobbying activities carried out by these organizations must be compliant with all related regulations and any breaches must be reported to the relevant authorities as required.
As can be expected, we do not always agree with all the positions taken by each association and where that is the case, we aim to use our influence with our membership to advocate for change. Our relationship with each trade association is managed by the relevant country manager. We are also members of the ICMM and WGC and membership of these organizations is managed at a corporate level.