Sustainability Governance and Management
Board of Directors
Good governance is critical for effective corporate performance and plays a major role in protecting stakeholder interests and maximizing stakeholder value. Our Board of Directors (the Board) oversees the direction and strategy of the business, guided by Pan American Silver’s values, legislative and other governance standards, stock exchange rules, and industry best practices. The Board executes overall responsibility for corporate governance matters by:
- Approving corporate policies and guidelines
- Assisting in the definition of corporate objectives, assessing and approving key plans
- Evaluating Company performance on a regular basis
- Ensuring that the Company is led by qualified executives and senior managers
For additional details on our Board’s mandate, members, committees, processes, and our corporate policies see our Information Circular or the corporate governance section on our website.
Sustainability Governance Structure
Sustainability is embedded in our vision, values, and business strategy. Governance and oversight of sustainability at Pan American Silver start at the Board level. Our Health, Safety, Environment and Communities Board Committee reviews the Company’s sustainability performance on a quarterly basis and reports back to the full Board. From the top level of the organization, accountability for sustainability cascades to our sites.
Organizational Roles Directly Responsible or Accountable for Sustainability Performance
Sustainability Management and Integration
Our corporate policies translate our vision and values into specific commitments, which we implement within our Sustainability Pillars.
Our sustainability management implementation system provides us with a consistent approach to operating in an ethical and responsible manner in compliance with applicable laws and industry best practices. The system is designed to consider the external factors that affect our industry, including market uncertainties and increasingly demanding political, economic, environmental and social circumstances. We do not control these external factors but have developed an approach to help us navigate risk and deliver value to all COIs.
Sustainability Management Implementation System
Sustainability Implementation Strategy
We use a modified plan-do-check-act cycle to ensure our programs and initiatives align with our vision and values, mitigate our impacts, and contribute to long-term sustainability in communities.
Sustainability Management Framework
Pan American Silver sets annual sustainability goals that are largely established by our senior management group including the operations. This encourages a high level of understanding and commitment by those who carry out our day-to-day business activities. Our 2019 goals and performance against these goals can be found within the relevant material section.
Sustainable Development Goals
Launched in 2015 and adopted by all United Nations’ (UN) member states, the Sustainable Development Goals (SDGs) are the core component of the UN’s 2030 Agenda for Sustainable Development, designed to transform the world by overcoming barriers to economic, social, and environmental progress.
The mining industry has enormous potential to drive future progress on the SDGs, as mines are often situated in remote and developing regions where achievement of the SDGs can have large and lasting positive impacts. Pan American Silver is committed to contributing to the achievement of the SDGs. Our programs in support of the SDGs are described throughout this report. A full list can be found here.
Sustainability is embedded in our vision, values, and business strategy.