OUR APPROACH
OUR APPROACH TO RESPONSIBLE MINING
Our business is focused on breaking new ground at every stage in the mining life cycle. From the initial relationships we build with local communities to implementing socially and environmentally responsible closure practices, we seek to find new ways to create value for our stakeholders. From our corporate vision to our management systems, we are committed to responsible mining as the foundation of our business.
Our Sustainability Framework
Eldorado’s sustainability framework embodies our pledge to incorporate sustainability from the ground up in service of our corporate vision to build a safe, sustainable and high-quality business in the gold mining sector, creating value today and for future generations. This means we consider sustainability in everything we do, from exploration to closure, and in our relationships with communities, investors, customers and other important stakeholders.
Our sustainability framework articulates four pillars that highlight our commitments across environmental, social and governance (ESG) indicators. By delivering on these pillars, we believe we will continue to be a preferred partner for host communities and countries and have access to capital to enable us to grow our business for the benefit of all stakeholders.
VISION & VALUES
Our five core values are the foundation for how we do business, ignite our culture and underpin Eldorado’s vision of building a safe, sustainable and high-quality business in the gold mining sector, creating value today and for future generations.
Safe, Inclusive and Innovative Operations
Fostering safe and inclusive workplaces that value diversity, personal growth, and innovation.
Responsibly Produced Products
Demonstrating respect for human rights and delivering conflict-free responsibility produced gold.
Engaged & Prosperous Communities
Working with our communities in a spirit of mutual respect to grow local economies and deliver lasting opportunities.
Healthy Environments, Now and For the Future
Taking care of our environment through industry-leading practices and technology.
Policies
Eldorado’s Sustainability Policies define our commitments on specific sustainability-related topics.
Sustainability integrated management system
Eldorado’s Sustainability Integrated Management System ("SIMS") provides mandatory performance-based minimum standards that operationalize our Sustainability Framework and Policies across our global sites.
Our Sustainability Policies
Eldorado’s policies and commitments provide the governance for making our vision, values and framework a reality. Our sustainability-related policies include:
- Anti-Bribery and Corruption Policy
- Code of Ethics and Business Conduct
- Diversity Policy
- Environmental Policy
- Health and Safety Policy
- Human Rights Policy
- Respectful Workplace Policy
- Shareholder Engagement Policy
- Social Performance Policy
To read the full policies, visit our Governance page.
Our Sustainability Integrated Management System
Eldorado’s Sustainability Integrated Management System (SIMS) provides minimum performance-based standards for all Eldorado sites in the areas of occupational health and safety, environmental performance, social performance, security and general management of sustainability topics.
SIMS was developed in alignment with internationally recognized standards, including the World Gold Council’s (WGC) Responsible Gold Mining Principles (RGMPs), the Mining Association of Canada’s (MAC) Towards Sustainable Mining (TSM), the International Cyanide Management Code (ICMC) and the Voluntary Principles on Security and Human Rights (VPSHR). It was also developed through a collaborative effort with direct participation from executive leadership, senior management, mine and country general managers, corporate teams and a dedicated group of sustainability professionals from across Eldorado’s operating regions. SIMS is founded and fostered on Eldorado’s values and is a critical tool for driving sustainability performance across our business.
ELDORADO’S SECOND SIMS COMPLIANCE VERIFICATION AT OLYMPIAS
External Frameworks and Commitments
STANDARDS, COMMITMENTS AND CERTIFICATIONS
We report in alignment with the following:
- Global Reporting Initiative Standards
- Sustainability Accounting Standards Board – Metals and Mining Standard
- United Nations Global Compact – Communication on Progress
We participate in the following disclosures:
MEMBERSHIPS
Eldorado is also a member of several industry associations that assist in developing best practices and international standards, such as:
UN Sustainable Development Goals
The 17 United Nations (UN) Sustainable Development Goals (SDGs) were adopted by all UN member states in 2015 to provide a shared blueprint and set targets for peace and prosperity for people and the planet. We have embedded the SDG targets into the methodology of our materiality assessment, which has helped us to identify the SDGs where we can have the greatest impact for the communities and countries where we operate.
Eldorado Material Issue | Related SDG | Eldorado’s Progress |
---|---|---|
Occupational Health and Safety | Eldorado promotes a strong, company-wide workplace health and safety culture:
We continue to invest in initiatives in our host communities intended to improve the health and well-being of those around us. In 2023, Eldorado continued to support community health and well-being initiatives, as part of our community investment strategy. | |
Inclusive Diversity | In 2023, Eldorado’s Board was composed of 56% female directors. We also updated our Diversity Policy, which includes an aspirational target to maintain 30% women on our senior management team. By doing so, we are:
At Lamaque, we continued providing support to parents in our workforce, including improved access to paid daycare that fosters equal opportunity and participation, and, in a first for Eldorado, we welcomed two female professionals from Chile to join our ranks through the Artemisa Mining Challenge. Beyond the mine at Efemçukuru and Kışladağ, we focused on delivering our “Productive Women, Strong Futures” and “Women Entrepreneur Vision” programs through providing long-term support for entrepreneurship and mentorship opportunities to local women. More information can be found in the Inclusive Diversity and Engaged and Prosperous Communities sections of this report. | |
Water | Eldorado works to manage our water consumption while collaborating with local communities and governments by:
In 2023, Kışladağ continued its long-term support for maintaining and repairing critical infrastructure in local communities to ensure access to fresh potable water now and into the future. | |
Local Employment and Procurement | Eldorado actively builds the conditions under which sustainable economic growth can occur by:
Our commitment to local employment and procurement is formalized in our new Social Performance Policy. We prioritize local employment everywhere we operate. In 2023, 79% of our workforce was employed from communities local to our sites and offices and, our domestic procurement spend was approximately $693 million. | |
Community Investment | Eldorado makes significant investments in infrastructure to transport materials, water, energy and information to our locations by:
In 2023, Eldorado contributed approximately $4.29 million in local communities to support various efforts, including strategic community investments aimed at building and supporting the economic development of local women, repairing community infrastructure, and donating educational materials. However, our contributions reach beyond donations and include investments aimed at building local capacity in our host communities, such as providing access to education and professional training opportunities. | |
Responsible Sourcing | Eldorado seeks to responsibly produce materials that help create socio-economic benefits fundamental to healthy communities and transitioning to a lower-carbon economy. Our business is focused on responsibly and sustainably creating value from natural resources, and we seek to adopt international best practices wherever we operate. In 2023, Eldorado had no major environmental incidents across our operations. Moreover, we continued to implement our Climate Change Strategy and advanced the development of a mitigation pathway toward our GHG emissions target to mitigate our contribution to climate change and continue building a responsible and resilient business. We also completed assurance against the WGC’s Conflict-Free Gold Standard (CFGS) for our 2022 operations and full conformance to RGMP Year 3 requirements (click here to read Eldorado’s Year Three RGMP Report). |