REG - Wheaton Precious Met - Third Annual Sustainability Report

Wheaton Precious MetalsAnnouncement

25/05/2022 14:30

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RNS Number : 8084M  Wheaton Precious Metals Corp.  25 May 2022

 

May 25, 2022                                                                                                TSX | NYSE | LSE: WPM
Vancouver, British Columbia

 

WHEATON PRECIOUS METALS PUBLISHES THIRD ANNUAL SUSTAINABILITY REPORT
HIGHLIGHTING CONTINUED ESG LEADERSHIP

Vancouver, British Columbia - Wheaton Precious Metals™ Corp. ("Wheaton" or
the "Company") is pleased to announce the publication of its 2021
Sustainability Report, a comprehensive review of Wheaton's environmental,
social and governance ("ESG") performance metrics. An electronic version of
the report is available here
(https://www.wheatonpm.com/files/doc_downloads/2022/05/22078_WPM_SR_24MAY2022.pdf)
.

 

"At Wheaton, we have a strong belief in being an agent of change which means
leading with our values and working to commit to the highest standards in all
facets of ESG," said Randy Smallwood, Wheaton's President and Chief Executive
Officer. "The 2021 Sustainability Report highlights Wheaton's enhanced
commitments to ensuring our people, our partnerships and our communities
thrive as our business continues to evolve and grow. While we are proud of the
progress and efforts we have made in the past year, we recognize that there is
always more to be done."

 

"Our latest report details Wheaton's formal ESG strategy developed this past
year that includes several new initiatives, particularly a commitment to
achieve net zero carbon emissions by 2050, alongside other long-standing,
established goals," said Patrick Drouin, Wheaton's Senior Vice President,
Sustainability and Investor Relations. "Our commitment to promoting
responsible mining practices starts with us, which is why beginning with our
2021 Sustainability Report, we are increasing our disclosures and reporting
around our Scope 3 financed emissions. 2021 was an inflection point for many
including for us at Wheaton, and we hope that our deliberate approach to ESG
continues to serve as a catalyst throughout our industry."

 

Highlights outlined in the report include the following:

·    Establishment of a formal ESG strategy with targets and commitments
across several material ESG topics

·    Set formal commitment to achieve net zero carbon emissions by
2050 1 . This includes the establishment of targets across both Scope 2 and
Scope 3 attributable emissions to support a 1.5° C trajectory.

·    Conducted climate scenario analysis of both a business-as-usual and
net zero scenario to identify physical and transitional climate risks and
opportunities.

·    Inaugural reporting of our Scope 3 financed emissions associated with
our mining partners, including disclosing the detailed methodology developed
to calculate these emissions.

·    Made an initial $4M commitment to support our mining partners'
efforts to move to renewable energy sources and reduce emissions at the mines
in which we have an interest (becoming the first metals streaming company to
do so).

·    Distributed over $6.2 million in 2021 in support of over 100
charitable causes and initiatives around the world.

·    Surpassed the $32 million mark in contributions to local charities
and mining communities since inception of the Community Investment Program in
2009.

·    As announced at our recent Annual General Meeting, Wheaton now has
30% female Board members, achieving our 2024 target two years early.

 

Wheaton is rated #1 for Precious Metals (out of 123 companies) and ESG Global
50 Top Rated Company by Sustainalytics. Wheaton is also "AA" rated by MSCI ESG
Ratings, rated "Prime" by ISS ESG and included in the Euronext Vigeo World 120
Indices.

 

Information and data in Wheaton's 2021 Sustainability Report was informed by
the Sustainability Accounting Standards Board (SASB), Global Reporting
Initiative (GRI) and Task Force on Climate-Related Financial Disclosures
(TCFD).

 

 

For further information, please contact:

 

Patrick Drouin

Senior Vice President, Sustainability and Investor Relations

 

Andrea De Paoli

Manager, Sustainability

 

Wheaton Precious Metals Corp.

Tel: 1-844-288-9878

Email: info@wheatonpm.com

Website: www.wheatonpm.com

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

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKINGSTATEMENTS

 

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 and, in some instances, the business, mining operations
and performance of Wheaton's precious metals purchase agreement ("PMPA")
counterparties. Forward-looking statements, which are all statements other
than statements of historical fact, include, but are not limited to Wheaton's
climate change and environmental commitments, the future price of commodities,
the estimation of future production from mineral stream interests owned by
Wheaton (the "Mining Operations") (including in the estimation of production,
mill throughput, grades, recoveries and exploration potential), the estimation
of mineral reserves and mineral resources (including the estimation of reserve
conversion rates) and the realization of such estimations and the
commencement, timing and achievement of construction, expansion or improvement
projects by Wheaton's PMPA counterparties at Mining Operations. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "projects",
"intends", "anticipates" or "does not anticipate", or "believes", "potential",
or variations of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might" or "will be taken", "occur"
or "be achieved". 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 but not limited to risks associated with the ability to achieve
climate change and environmental commitments at Wheaton and at the Mining
Operations, fluctuations in the price of commodities (including Wheaton's
ability to sell its precious metals or cobalt production at acceptable prices
or at all), the Mining Operations (including fluctuations in the price of the
primary or other commodities mined at such operations, regulatory, political
and other risks of the jurisdictions in which the Mining Operations are
located, actual results of mining, risks associated with the exploration,
development, operating, expansion and improvement of the Mining Operations,
environmental and economic risks of the Mining Operations, and changes in
project parameters as plans continue to be refined), 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
(http://www.sedar.com) , and in Wheaton's Form 40-F for the year ended
December 31, 2021 and Form 6-K filed March 5, 2022 both available on EDGAR at
www.sec.gov (http://www.sec.gov) , as well as the risks set out in Wheaton's
management's discussions and analysis for the period ended December 31, 2021
available on SEDAR and EDGAR (together, the "Disclosure"). Forward-looking
statements are based on assumptions management currently believes to be
reasonable, including (without limitation): that Wheaton will be able to
achieve climate change and environmental commitments, there will be no
material adverse change in the market price of commodities, that the Mining
Operations will continue to operate and the mining projects will be completed
in accordance with public statements and achieve their stated production
estimates, that the mineral reserve and mineral resource estimates from Mining
Operations (including reserve conversion rates) are accurate, and such other
assumptions and factors as set out in the Disclosure. There can be no
assurance that forward-looking statements will prove to be accurate and even
if events or results described in the forward-looking statements are realized
or substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on, Wheaton. Readers should not place
undue reliance on forward-looking statements and are cautioned that actual
outcomes may vary. The forward-looking statements included herein are for the
purpose of providing readers with information to assist them in understanding
Wheaton's expected financial and operational performance and may not be
appropriate for other purposes. Any forward-looking statement speaks only as
of the date on which it is made, reflects Wheaton's management's current
beliefs based on current information and will not be updated except in
accordance with applicable securities laws. Although Wheaton has attempted to
identify important factors that could cause actual results, level of activity,
performance or achievements to differ materially from those contained in
forward‑looking statements, there may be other factors that cause results,
level of activity, performance or achievements not to be as anticipated,
estimated or intended.

 

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