REG - Wheaton Precious Met - Inaugural Climate Change Report

Wheaton Precious MetalsAnnouncement

16/06/2023 07:00

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RNS Number : 9202C  Wheaton Precious Metals Corp.  16 June 2023

June 15, 2023
Vancouver, British Columbia

 

Wheaton Precious Metals Publishes Inaugural Climate Change Report

 

Vancouver, British Columbia - Wheaton Precious Metals™ Corp. ("Wheaton" or
the "Company") is pleased to announce the publication of its inaugural 2022
Climate Change Report (the "report"). The report was prepared in alignment
with the recommendations of the Task Force on Climate-related Financial
Disclosures ("TCFD") and outlines how Wheaton is addressing climate change
risks and opportunities and the resiliency of its portfolio to climate
impacts.

 

"Mining plays a vital role in facilitating the energy transition and, as a
provider of capital to the industry, we have a unique opportunity to influence
and encourage our partners to operate in a sustainable manner, including
setting targets to reduce their greenhouse gas emissions," said Randy
Smallwood, Wheaton's President and Chief Executive Officer. "In addition, our
high-quality portfolio of assets is diversified in terms of jurisdiction and
commodity, allowing Wheaton to effectively manage our exposure to
climate-related risks. Through our business model, we are well positioned to
help fund the supply of critical metals needed for the growing demand for
low-carbon technology and infrastructure."

 

Report Highlights

Highlights from the 2022 Climate Report include:

·    Details on climate-related governance, strategy, risk management, and
metrics and performance.

·    Expanded information on the pathway to achieve net-zero carbon
emissions by 2050(1) and progress to date on this topic, with a focus on Scope
3 financed emissions.

·    Identification of climate risks and opportunities and management
strategies, including incorporation of climate risks and opportunities in the
due diligence process and ongoing monitoring mechanisms.

·    Commitment to support our mining partners' decarbonization and
climate solutions efforts.

·    68% of 2021 Scope 3 financed emissions covered by emissions
reductions targets aligned to 2°C or less.

Wheaton's Climate Report complements our recently published 2022
Sustainability Report
(https://www.wheatonpm.com/responsibility/Sustainability-Reports--Disclosure/default.aspx)
and reinforces our commitment to provide stakeholders with transparent and
detailed reporting of our environmental, social and governance ("ESG")
performance and practices.(2)

 
 

About Wheaton Precious Metals Corp.

Wheaton Precious Metals is the world's premier precious metals streaming
company with the highest-quality portfolio of long-life, low-cost assets. Its
business model offers investors leverage to commodity prices and exploration
upside but with a much lower risk profile than a traditional mining company.
Wheaton delivers amongst the highest cash operating margins in the mining
industry, allowing it to pay a competitive dividend and continue to grow
through accretive acquisitions. As a result, Wheaton has consistently
outperformed gold and silver, as well as other mining investments. Wheaton is
committed to strong ESG practices and giving back to the communities where
Wheaton and its mining partners operate. Wheaton creates sustainable value
through streaming.

 

For further information, please contact:

 

Patrick Drouin

Senior Vice President, Sustainability and Investor Relations

 

Simona Antolak

Senior Director, Communications and Corporate Affairs

 

Wheaton Precious Metals Corp.

Tel: 1-844-288-9878

Email: info@wheatonpm.com (mailto:info@wheatonpm.com)

Website: www.wheatonpm.com (http://www.wheatonpm.com)

 

Endnotes

(1) Net zero includes emissions reductions in line with a 1.5°C trajectory
across Scopes 1, 2 and 3.  Achievement of net zero may include the use of
offsets for residual emissions in 2050.

 

(2) All information in the Climate Report is subject to the cautionary
language contained therein as well as Wheaton's annual and quarterly financial
statements, management's discussion and analysis, annual information form and
annual report.

 

Cautionary Note Regarding Forward Looking-Statements

This press release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable Canadian
securities legislation concerning the business, operations and financial
performance of Wheaton. Forward-looking statements, which are all statements
other than statements of historical fact, include, but are not limited to,
statements with respect to ESG commitments by Wheaton and at mineral stream
interests currently owned by Wheaton (the "Mining Operations"), such as
governance, strategies, risk management, metrics, performance, pathway to
achieve net-zero carbon emissions, identification of climate risks and
opportunities and management strategies. Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of
Wheaton to be materially different from those expressed or implied by such
forward-looking statements including (without limitation) risks related to
climate change, environmental, social and governance matters, the ability to
achieve ESG commitments and goals at both Wheaton and the Mining Operations
and other risks discussed in the section entitled "Description of the Business
- Risk Factors" in Wheaton's Annual Information Form available on SEDAR at
www.sedar.com and Wheaton's Form 40-F for the year ended December 31, 2022
filed March 31, 2023 on file with the U.S. Securities and Exchange Commission
on EDGAR and the risks identified under "Risks and Uncertainties" in Wheaton's
Management's Discussion and Analysis for the year ended December 31, 2022,
available on SEDAR and in Wheaton's Form 6-K filed March 9, 2023.
Forward-looking statements are based on assumptions management currently
believes to be reasonable, including (without limitation) that ESG
commitments, goals, targets, governance, risk management, decarbonization and
climate solutions efforts, and strategies at both Wheaton and the Mining
Operations will be achieved, there will be no material adverse change in the
market price of commodities, that estimations of future production from the
Mining Operations and mineral reserves and resources are accurate, that the
mining operations from which Wheaton purchases precious metals will continue
to operate, that each party will satisfy their obligations in accordance with
the precious metals purchase agreements, and that Wheaton's application of the
CRA Settlement is accurate (including the Company's assessment that there will
be no material change in the Company's facts or change in law or jurisprudence
for years subsequent to 2010) and possible domestic audits for taxation years
subsequent to 2016 and international audits.

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