About
Pan American Silver provides enhanced exposure to silver through large silver reserves and catalysts to grow silver production.
2023 Goals & Performance
We set ESG goals to focus our efforts in key areas and continually improve our performance. The table below consolidates these goals and details our performance.
2023 Goals1 2023 Performance Achieve zero significant environmental incidents (SEIs) at our operations. ✓ Achieve 90% of environmental audit corrective actions completed on time.2 ✗ Implement projects and initiatives to reduce water withdrawn for use by 47,000 m3, which represents approximately 0.3% of the 2023 base case.3 ✓ Implement projects and initiatives to reduce energy use by 116,000 GJ which represents approximately 2% of the 2023 base case.3 ✓ Implement projects and initiatives to reduce GHG emissions by 73,000 t CO2Eq which represents approximately 19% of the 2023 base case.3 ✓ Continue post-closure activities at Alamo Dorado and conduct interim reclamation projects at our active operations. ✓ Achieve 80 hectares of reforestation or revegetation across all our operations. ✓ Implement projects and initiatives to reduce non-recycled and/or non-reused non-rock waste by 450 t, which represents approximately 4% of the 2023 base case.3 ✓ 2023 Goals1 2023 Performance Train 400 key employees on Anti-Corruption policy. ✓ Assess 150 critical suppliers using our supplier due diligence system. ✓
1 Water, energy, GHG emissions, waste, revegetation, LTIF, LTIS and socio-economic development programs goals do not apply to the Acquired Mines. All other goals apply to all operations, including the Acquired Sites.
2 Corrective actions completed within the agreed timeline in the final corporate environmental audit report.
3 The 2023 base case is our projected 2023 water use, energy use, GHG emissions, and waste generation, as calculated using our life of mine plans adjusted for annual production guidance. The 2023 base case excludes the Acquired Mines.
4 Grievances that cannot be resolved jointly within a reasonable time frame and/or require significant financial resources to resolve.
5 Target timeframes include acknowledging grievances within 15 days of receipt and resolving grievances within 60 days of receipt.
2024 Goals
2024 Goals Prioritized UN SDGs UNGC Principles Achieve zero significant environmental incidents (SEIs) or Category 4 (C4) incidents -
7, 8, 9
-
Achieve 90% of environmental audit corrective actions completed on time.1 -
7, 8
-
Implement projects and initiatives to reduce water withdrawn for use by 108,000 m3, which represents approximately 0.7% of the 2024 base case.2 -
7, 8, 9
-
Implement projects and initiatives to reduce energy use by 23,000 GJ, which represents approximately 0.3% of the 2024 base case.2 -
7, 8, 9
-
Implement projects and initiatives to reduce GHG emissions by 2,000 t CO2Eq, which represents approximately 0.5% of the 2024 base case.2 -
7, 8, 9
-
Complete 44 hectares of cover installation on waste dumps at Alamo Dorado, and conduct interim reclamation projects at our active operations. -
7, 8, 9
-
Achieve 55 hectares of revegetation across all our operations. -
7, 8, 9
-
Implement projects and initiatives to reduce nonrecycled and/or non-reused non-rock waste by 860 t, which represents approximately 6% of the 2024 base case.2 -
7, 8, 9
-
-
2024 Goals Prioritized UN SDGs UNGC Principles Achieve zero fatalities -
3, 4
-
1, 2
Maintain a frequency of lost time injuries with high fatality potential (LT-HPIF) of 0.31 or better. -
3, 4
-
1, 2
Maintain a ratio of Lost Work Days [i.e. Severity] to exposure of Non-Fatal Lost Time Injuries (NF-LTIS) of 59 or better. -
3, 4
-
1, 2
Minimize the possibility of incident reoccurrence by applying Corrective and Preventative Actions (CAPA). -
3, 4
-
1, 2
Achieve zero new significant social disputes3 at our operations. -
3, 4, 5, 6
-
1, 2
Resolve 90% of all medium and high-risk grievances received through our community response mechanisms within the target timeframe.4 -
3, 4, 5, 6
-
1, 2
Achieve 85% of planned social closure activities at Dolores and Manantial Espejo mines in compliance with the Corporate Social Closure Standard. -
6
-
1, 2
Hire women for at least 15% of all approved and budgeted vacant positions plus all new eligible positions; and retain 85% of women employees within the PAAS Workforce from January 1, 2024 (excluding involuntary terminations). -
3, 4,5,6
-
1, 2
Graduate 100 employees from our Leadership Development Program (# of employees completing two modules). -
3, 4,5,6
-
1, 2
Complete 85% of action plans addressing audit findings by year end (only applicable for Chile and Brazil in 2024). -
3, 4,5,6
-
1, 2
Train all security contractors in human rights and use of force, and all security employees in human rights. -
1, 2
-
3, 4, 5, 6
-
2024 Goals Prioritized UN SDGs UNGC Principles Train at least 1,000 employees across all PAS operations on compliance issues. -
10
-
4,5,6
-
1,2
Evaluate at least 250 critical suppliers through our due diligence procedure. -
10
-
4, 5, 6
-
1, 2
-
2024 Goals PRIORITIZED UN SDGS UNGC PRINCIPLES Complete TSM external verification of at least two of our operations. -
7,8,9
-
1,2
-
3,4,5,6
-
1 Corrective actions completed within the agreed timeline in the final corporate environmental audit report.
2 The 2024 base case is our projected 2024 water use, energy use, GHG emissions, and waste generation, as calculated using our life of mine plans adjusted for annual production guidance
3 We define significant social disputes as grievances that cannot be resolved jointly within a reasonable time frame or require significant financial and legal resources to resolve. These disputes are escalated to site-level or country-level senior management to oversee the resolution process.
4 Grievances should be acknowledged within 15 days of receipt and should be resolved within 60 days of receipt.