“Sustainability has become central to our success. It’s part of our DNA. It has helped shape every decision we have made in the last 20 years and will continue to do so in the decades to come.”
Mark Bristow, CEO
We have a wide range of policies, processes and people in place to ensure we identify and manage the risks and opportunities that sustainability factors present to our business, and to ensure we engage effectively and transparently with all our stakeholders.
Our sustainability governance starts at the top and it is our board who holds ultimate responsibility for our performance in this area. Key to this is the board’s environmental and social oversight committee, which meets quarterly and is chaired by our CEO. Sustainability considerations play a key part in all our decisions, for example in 2015 our verdict not to proceed with a potential investment opportunity was made, in part, because we did not feel the project met our sustainability criteria.
As shown in the organogram below, we also have three high level executives who drive our work on community relations, health and safety, environmental management and sustainability reporting. Two of these are West African nationals, in keeping with our ambition to have host country nationals involved at the highest levels of management in our company. To avoid a hierarchical structure these executives report directly to our chief operating officers (who sit above the mine general managers). This helps provide an important layer of independent sustainability oversight. It also helps to integrate sustainability into the DNA of our company, ensuring that it is not reliant on one person or one department.
EXTERNAL ACKNOWLEDGEMENT FROM LEADING ETHICAL BUSINESS INDEX
For the second year running, 2015 saw Randgold named as a constituent of the FTSE4Good Index, an influential index designed to help socially responsible investors find appropriate stocks to invest in. Only those companies judged to have strong environmental, social and governance practices in place are included in this index.
Randgold was included in the upper brackets of scoring in 2015 for its management of issues including water use, corporate governance, community, health and safety, climate change, human rights and risk management. Each index constituent or company is categorised in accordance with the Industry Classification Benchmark (ICB), the global standard for industry sector analysis. Randgold received an overall ICB supersector rating of 84, which places us within the top 16% of the industry.
We believe that our continued inclusion in the FTSE4Good Index, and the high industry rating we achieved is a tribute to the effectiveness with which our team handles sustainability risks from energy to employment, developing communities or tackling corruption and demonstrates the extent to which these have been prioritised in our group and operational strategies.