Southern Copper Corporation
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Water Consumption:0.53 m3/milled ton in 2023
ESG Focus Areas
- Climate Change
- Water Management
- Social Infrastructure Investment
- Occupational Safety and Health
- Human Capital Development
- Community Engagement
Environmental Achievements
- Improved water use efficiency by 17% from 2020 to 2023 (0.64 m3/ton to 0.53 m3/ton)
- Major improvement in water recovery from Quebrada Honda tailings dam and Buenavista del Cobre mine
Social Achievements
- 97% YoY increase in investment in social infrastructure ($35.9 million in Mexico and $45.7 million in Peru)
- Investment in water infrastructure for Cananea and Nacozari communities in Mexico
- Progress in building a wastewater treatment plant (PTAR) in Ilo, Peru
- Prioritized educational infrastructure development in Peru, building five high-performance schools (COAR) for 1,500 students
- Became the primary private investor in Peru in national educational infrastructure
Governance Achievements
- Achieved a place among the top 10% of performers in the mining sector in S&P Global's Corporate Sustainability Assessment (CSA)
- Exceeded the industry average by 100% in CSA rating
- Maintained inclusion in the Dow Jones Sustainability Index (DJSI) for the Latin American region for the fifth consecutive year
- Achieved a score of 90 out of 100 on CSA’s climate governance index
- Achieved a score of 100 in the Task Force on Climate-Related Disclosures (TCFD) category
- Received a full compliance rating in the TCFD category from Climate Action 100+
- Sustainalytics reduced the Company's risk by two levels between 2020 and 2023
Climate Goals & Targets
Environmental Challenges
- Reduction of freshwater at Buenavista operation due to lack of permits for a water pipeline
- Highly volatile copper market with initial estimates for 2024 surplus changing to concerns about potential deficits
Mitigation Strategies
- Decided to transport water through other means to secure supplies for Buenavista operation
- Focus on developing capital projects and keeping costs controlled
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: TCFD
Awards & Recognition
- Inclusion in Dow Jones Sustainability Index (DJSI) for five consecutive years