Climate Change Data

Agnico Eagle Mines Limited

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:1,337,000 tCO2e/year (Scope 1 & 2)
Scope 1 Emissions:1,150,541 tCO2e/year
Scope 2 Emissions:186,416 tCO2e/year
Scope 3 Emissions:2,020,549 tCO2e/year (estimated)
Renewable Energy Share:56%
Total Energy Consumption:26,358,718 GJ/year
Water Consumption:8,615,007 m3/year (freshwater withdrawn)
Waste Generated:78,560 tons/year (hazardous + domestic)
Carbon Intensity:0.38 tonnes CO2e per gold oz (2023)

ESG Focus Areas

  • Health, Safety, and Wellness
  • Environmental Stewardship
  • Community Relations
  • Indigenous Relations
  • Climate Change
  • Diversity, Equity, and Inclusion
  • Governance

Environmental Achievements

  • Zero significant environmental incidents
  • 71% of freshwater used was recycled
  • 75% of electricity consumed from low-carbon sources
  • 1.34M tonnes CO2e produced (Scope 1 & 2)

Social Achievements

  • 34% reduction in year-over-year health and safety performance
  • 649 Indigenous employees
  • $1.9B in local purchases of goods and services
  • Launched Inunnguiniq project ($5M CAD commitment to enhance food security and promote active lifestyles in Nunavut)
  • Launched a 10-year $3M CAD commitment to the Canadian Cancer Society

Governance Achievements

  • 25% of short-term incentive compensation for Named Executive Officers linked to sustainability performance
  • Established a Climate Action Corporate Standard
  • Developed a Reconciliation Action Plan (to be implemented in 2024)

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050
  • Towards Zero Accidents: 25% reduction in global combined and total recordable incident frequencies over 5 years
Medium-term Goals:
  • Reduce Scope 1 & 2 emissions by 30% by 2030
  • Achieve zero major or critical/extreme environmental incidents
Short-term Goals:
  • Reduce Global Combined Incident Frequency Rate (GCIFR) by 5% from 2023 levels
  • Implement injury severity rate as key measurement in tracking injury management performance
  • Address 100% of grievances within 30 days, adjust KPI to report number of complainants
  • Develop baseline of community relations and satisfaction in all regions and implement new KPIs

Environmental Challenges

  • Climate change impacts (wildfires, floods, droughts)
  • Supply chain disruptions
  • Water stress in some operating regions
  • Maintaining biodiversity in diverse ecosystems
  • Achieving net-zero emissions by 2050
Mitigation Strategies
  • Developed a comprehensive action plan to advance reconciliation with Indigenous communities
  • Developed a Climate Action Corporate Standard and site-level reduction targets
  • Investing in technological innovation and decarbonization opportunities (e.g., electric mobile equipment, renewable energy)
  • Updated Water Management Corporate Standard
  • Implementing the Towards Sustainable Mining (TSM) protocols
  • Engaging with communities and Indigenous Peoples on environmental issues
  • Developing tools and collecting data to guide business decisions and minimize negative impacts on nature

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Code of Conduct
  • Prioritizing local and Indigenous suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Increased frequency and severity of storms
  • Wildfires
  • Flooding
  • Water stress
Transition Risks
  • Increased fossil fuel prices
  • Carbon pricing
  • Regulatory changes
  • Market shifts
Opportunities
  • Development of energy-efficient products and processes
  • Increased use of renewable energy

Reporting Standards

Frameworks Used: GRI Standards, SASB Metals and Mining disclosures, TCFD framework

Certifications: International Cyanide Management Code (ICMC) at select sites

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 13 (Climate Action)
  • Goal 2 (Zero Hunger)
  • Goal 3 (Good Health and Well-being)
  • Goal 4 (Quality Education)
  • Goal 6 (Clean Water and Sanitation)
  • Goal 8 (Decent Work and Economic Growth)
  • Goal 9 (Industry, Innovation, and Infrastructure)
  • Goal 11 (Sustainable Cities and Communities)
  • Goal 15 (Life on Land)
  • Goal 17 (Partnerships for the Goals)

Agnico Eagle's initiatives contribute to these goals through various programs and actions (see report)

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Numerous awards and recognitions for safety, environmental performance, community engagement, and diversity (see report)