Energy use and climate change

Becoming net-zero by 2050

We have completed a climate risk assessment for our existing operations and are developing a carbon roadmap to become net-zero by 2050. The best practice for target setting is to ensure that our GHG reduction target aligns with the criteria of the Science Based Targets initiative (SBTi).

Energy risk and climate change

Our climate change assessment

The physical Climate Risk Assessment ("CRA") was prepared for five of Hochschild’s operating mine properties. The Arcata Mine, Pallancata Mine, Inmaculada Mine and Selene concentrator are located in Peru and the San Jose Mine located in Argentina.

Water management

The Peruvian Water Authority Blue Certificate programme

In 2022, we continued reducing our water footprint at the Inmaculada mine in line with the project implemented as part of the Blue Certificate programme by the Peruvian Water Authority (“ANA”). The project, implemented in 2021, consists in recirculating treated water from the domestic water treatment plant to the processing plant, as well as a ‘shared value’ programme with communities. Our water savings in 2022 amounted to 61,062 m3, equivalent to a 17% reduction of the annual industrial freshwater consumption at the Inmaculada processing plant.

Land use and biodiversity

Protecting the Cotahuasi Landscape Reserve

In 2022, Hochschild Mining’s Peruvian operator, Compañía Minera Ares, continued its partnership with Profonanpe, a Peruvian trust fund for national parks and protected areas, to preserve and conserve the Cotahuasi Landscape Reserve. Based on the Reserve’s Master Plan, four strategic components were prioritised: Improve the Reserve´s  signaling demarcating its boundarie;  provide equipment to the Reserve fire brigade; hold educational conferences on biodiversity; and support local entrepreneurship through the ‘Emprendedores por Cotahuasi’ programme.

 

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Environmental Management

ECO Score: A Hochschild Innovation 

To support our environmental commitments, Hochschild designed an innovative programme that allows the distillation of our environmental performance in a single number, expressing otherwise intangible aspects of performance in a way that is universally understood.

To support our environmental commitments, Hochschild designed an innovative programme that allows the distillation of our environmental performance in a single number, expressing otherwise intangible aspects of performance in a way that is universally understood.

The ECO Score is calculated by monitoring performance both at each mining operation and the Group overall using a range of KPIs which reflect, among other things, compliance with discharge limits and zero-tolerance to environmental incidents, regulatory findings, and sound environmental management (relating to water consumption and waste generation).

The corporate goal is set annually by the Board of Directors of the company. Ever since the implementation of the ECO Score, the board has been raising our corporate objective to encourage us to improve our environmental performance year after year.

To incentivise continuous improvement within the Company, we set a higher corporate target at 5.25 for 2023, and we will work towards achieving the highest possible score. Additionally, we established more stringent targets for potable water consumption and domestic waste generation. The target for potable water consumption was reduced to 193 litres/person/day (previous target of 250 litres/person/day) and the target for domestic waste generation was also lowered to 1 kilogram/person/day (previous target of 1.5 kilograms/person/day) for 2023. More importantly, we improved our Environmental Culture inspection checklist criteria and assessment methods by drawing on lessons learned from the previous years. With the implementation of the EMS, we will endeavor to find and address any previously unidentified environmental issues and incorporate them as specific assessment criteria for each mine.

The ECO Score won the 2019 Mines and Money award for Innovation in Sustainability, the 2020 Sustainable Development Award from the Peruvian National Oil and Energy Mining Society and the Sustainability Leadership Award 2023 by Business Intelligence Group. We have also shared the tool in forums, such as the Congress of International Association for Environmental Impact Assessment in 2021, the Technology, Innovation and Sustainability forum in Perumin in 2022 and at the Mine Water Solutions conference in 2022.

The 2022 Eco Score results are independently assured by EY Peru following the International Standard on Related Services (ISRS) 4400. Details of our 2022 ECO Score performance can be found in here . A detailed explanation of the tool can be found in here.

Environmental Management

ECO Score: A Hochschild Innovation 

To support our environmental commitments, Hochschild designed an innovative programme that allows the distillation of our environmental performance in a single number, expressing otherwise intangible aspects of performance in a way that is universally understood.

To support our environmental commitments, Hochschild designed an innovative programme that allows the distillation of our environmental performance in a single number, expressing otherwise intangible aspects of performance in a way that is universally understood.

The ECO Score is calculated by monitoring performance both at each mining operation and the Group overall using a range of KPIs which reflect, among other things, compliance with discharge limits and zero-tolerance to environmental incidents, regulatory findings, and sound environmental management (relating to water consumption and waste generation).

The corporate goal is set annually by the Board of Directors of the company. Ever since the implementation of the ECO Score, the board has been raising our corporate objective to encourage us to improve our environmental performance year after year.

To incentivise continuous improvement within the Company, we set a higher corporate target at 5.25 for 2023, and we will work towards achieving the highest possible score. Additionally, we established more stringent targets for potable water consumption and domestic waste generation. The target for potable water consumption was reduced to 193 litres/person/day (previous target of 250 litres/person/day) and the target for domestic waste generation was also lowered to 1 kilogram/person/day (previous target of 1.5 kilograms/person/day) for 2023. More importantly, we improved our Environmental Culture inspection checklist criteria and assessment methods by drawing on lessons learned from the previous years. With the implementation of the EMS, we will endeavor to find and address any previously unidentified environmental issues and incorporate them as specific assessment criteria for each mine.

The ECO Score won the 2019 Mines and Money award for Innovation in Sustainability, the 2020 Sustainable Development Award from the Peruvian National Oil and Energy Mining Society and the Sustainability Leadership Award 2023 by Business Intelligence Group. We have also shared the tool in forums, such as the Congress of International Association for Environmental Impact Assessment in 2021, the Technology, Innovation and Sustainability forum in Perumin in 2022 and at the Mine Water Solutions conference in 2022.

The 2022 Eco Score results are independently assured by EY Peru following the International Standard on Related Services (ISRS) 4400. Details of our 2022 ECO Score performance can be found in here . A detailed explanation of the tool can be found in here.