Tier One Silver Inc.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environmental Protection
- Community Engagement
- Social Responsibility
Environmental Achievements
- Established environmental policies and codes of conduct; implemented measures to minimize environmental footprint; conducted work practices with due regard for environmental protection.
- Renewed notarized social agreement with local community at Curibaya project until May 18, 2024, with option for one-year extension.
Social Achievements
- Renewed notarized social agreement with local community at Curibaya project; committed to working constructively with local communities, government agencies and Indigenous groups; prioritizing creating mutually beneficial and long-term partnerships with communities; maximizing employment and procurement for local communities.
Governance Achievements
- Adopted Code of Business Conduct and Ethics, Diversity Policy, Insider Trading Policy, Disclosure Policy and Whistleblower Policy; maintains high standards of corporate governance and social responsibility.
Climate Goals & Targets
Short-term Goals:
- Renewal of community agreement at Curibaya.
Environmental Challenges
- Risks associated with exploration activities (unusual formations, flooding, etc.); commodity price fluctuations; negative cash flow; relationships with local communities; environmental regulations; Peruvian regulatory compliance; climate change; changes in government regulation; civil unrest; competitive conditions; integration of acquisitions; title defects; reliance on contractors; legal and litigation risks; emerging market issuer risks; cybersecurity risks; social media risks.
Mitigation Strategies
- Implemented safety and environmental measures; maintains liability and property insurance; diversification of funding sources; ongoing community engagement; compliance with environmental regulations; obtaining necessary permits; risk management strategies; due diligence in acquisitions; legal counsel; cybersecurity measures; reputation management.
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Increased regulation of greenhouse gas emissions
Reporting Standards
Frameworks Used: NI 43-101