Nordgold earns multiple higher ESG ratings
- EcoVadis sustainability rating rises to 50 from 43
- Rises to 10th position in the 2021 WWF Russia environmental transparency rating
- Now ranked 12th of out 115 global precious metals producers in Sustainalytics ESG rankings
- Awarded “golden” status in the Forbes/KPMG ratings of the best employers in Russia
London, United Kingdom, 16 December 2021 – Nord Gold plc ("Nordgold" or "the Company"), the internationally diversified gold producer, announces it has earned higher score in five separate ESG ratings, indicative of its continued drive to improve its overall ESG (environment, social and governance) results and ensure sustainable performance is core to everything it does.
Nordgold has earned a bronze status from sustainability rating provider EcoVadis. It has raised its assessment of Nordgold’s ESG performance with a score of 50/100 from previous score of 43 in 2020.
The EcoVadis assessment focuses on four themes: the environment, labor & human rights, ethics, and sustainable procurement. This improvement directly supports Nordgold’s financing strategy — Nordgold has two credit facilities with a group of international banks for a total of US$ 200 million, with the margin of each loan directly linked to Nordgold’s EcoVadis ESG-rating.
Nordgold has risen to 10th position in the World Wildlife Fund’s (WWF) Russia environmental transparency rating in 2021, up from 12th in 2020.
The annual rating reflects the level of disclosure of environmental information provided by Russia’s mining and metals companies. 39 Russian companies participated in the 2021 WWF assessment. The final position in the rating is determined by assessing companies across three categories: environmental management, environmental impact, and the disclosure of information.
Sustainalytics, the internationally recognised ESG ratings provider, has also upgraded Nordgold’s ESG risks rating.
Nordgold benefits from a robust ESG and sustainable development framework which is implemented and overseen by the Board’s Safety and Sustainable Development Committee. Nordgold already ranks in the 1st quartile of the Sustainalytics Precious Metals Rankings, based on Sustainalytics’ Precious Metals Companies Summary Report and has committed to achieving net zero carbon emissions by 2050.
According to the rating’s methodology, the scale runs from zero to 100, with a lower score indicating a stronger ESG rating. Nordgold’s score of 26.1 points ranks the Company 12th out of 115 producers of precious metals globally indicating that Nordgold poses only a medium risk of experiencing potential material financial impact from ESG factors. This is a significant improvement from the previous score of 34.5.
Nordgold has achieved “golden” status in the rating of the best employers in Russia for the first time. The rating is compiled by Forbes in partnership with KPMG and, in 2021, the 104 companies were assessed according to a number of ESG indicators.
Nordgold has also participated in Russia’s leading economic journal “Expert’s” Sustainable Development Rating of Russian companies for the first time, scoring 30 out of 100 in the 2021 rating.
"We are committed to demonstrating continued improvement in our overall ESG performance. We are delighted that this has been recognised by a range of ESG experts and advisers. Adherence to the highest ESG standards is core to our company and this is equally important in how we look after our people as well as the environment in which we operate. We are a growing business competing for the best talent in the industry, so it is also pleasing to see we are now recognised as a leading employer in Russia. We are developing a detailed programme of ambitious ESG targets for the future, not least our net zero by 2050 ambition, and we look forward to maintaining the momentum we have delivered so far." Nikolai ZelenskiChief Executive Officer of Nordgold
Corporate Communications and PR
Nordgold is an internationally diversified one million ounce gold producer with about 7,800 people operating a portfolio of nine mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.