Responsibility

Advocacy for Positive Change

We responsibly engage with policymakers, practitioners and civil society to meet regulations, participate in approval processes and meet increasing stakeholder expectations. Furthermore, we actively participate in mining associations in the countries where we operate in, such as the “Sociedad de Mineria and Petroleo y Energia” (SNMPE) in Peru, “Camara Argentina de Empresarios Mineros” (CAEM) in Argentina, and the “Instituto Brasileiro de Mineracao” (IBRAM) in Brazil.

Additionally, we are active members of the United Nations Global Compact, the world's largest corporate sustainability initiative. As such, we commit to integrating the United Nations' ten principles on human rights, labour, environment, and anti-corruption into the Company's overall ESG approach and reporting the Company's annual progress towards the Sustainable Development Goals (SDGs).

Responsible Supply Chain Management

Risk Management

The management of the Group’s operations and the execution of its growth strategies are subject to a number of risks, which, if realised, could adversely affect the Group's performance. The Group’s risk management framework is based on continuous monitoring of the prevailing environment, the risks posed by it, and the evaluation of potential action to mitigate those risks, all tackled through the international framework COSO and regularly monitored by our Risk Committee. Accordingly, we conduct a risk assessment of all current and potential operations, addressing areas such as corruption, labour standards, human rights, health and safety and environmental concerns.

Additionally, in line with our Code of Conduct, we conduct preventative due diligence of all new business partners and closely monitor 100% of the entities with whom we have commercial relationships, to ensure that we engage only with those that share our corporate values. The process includes an in-depth background investigation into any potential illegality, including corruption, money laundering or terrorism financing. 

Moreover, we conduct preventative due diligence of potential new operations through our advisors, focusing on ESG factors such as health and safety, human rights, labour standards, environmental impact and community relations. As Hochschild has never acquired any operating assets, the scope is limited in nature. We contract with our own suppliers through our own established procedures once operations commence.

As a business, we are also committed to remediating any negative environmental and social impact we cause or contribute to, as outlined in the environmental impact assessments and management plans approved by relevant authorities. We conduct baseline studies, continuous environmental monitoring, and community consultations to identify and mitigate potential impacts.