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    S32   AU000000S320

SOUTH32 LIMITED

(S32)
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South32 : Sustainable Development Report 2022

09/08/2022 | 10:40pm EST

SUSTAINABLE DEVELOPMENT REPORT 2022

About this report

Sustainable Development Report 2022

This report is an overview of how our business-wide processes support our sustainability objectives and how we manage our key sustainability topics.

Our 2022 Annual Reporting Suite

You can view all the documents in our Annual Reporting Suite at www.south32.net, including:

ANNUAL

SUSTAINABILITY

CORPORATE

REPORT

DATABOOK

GOVERNANCE

2022

2022

STATEMENT

2022

Annual Report

Sustainability

Corporate Governance

Databook

Statement

MODERN

TAX TRANSPARENCY AND

SLAVERY

PAYMENTS TO GOVERNMENTS

STATEMENT

REPORT 2022

2022

Modern Slavery

Tax Transparency

Statement

and Payments

to Governments Report

About this report

This report has been prepared by South32 Limited (ABN 84 093 732 597) (South32) for informational purposes only and is intended to assist its investors with understanding its policies and practices to support sustainable development. This report should be read in conjunction with South32's Annual Report and Sustainability Databook, together with other periodic and continuous disclosure announcements lodged with the ASX. These documents are available at www.south32.net

This report has been prepared in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards (Core option), the GRI Mining and Metals Sector Supplement and the ICMM Mining Principles.

Unless otherwise stated, (a) metrics describing health, safety, environment, people and community related performance in this report apply to 'operated operations' that have been wholly owned and operated by South32, or that have been operated by South32 in a joint arrangement(1)(2) from 1 July 2021 to 30 June 2022 (FY22), (b) operations that we acquired or divested during the reporting period are shown for the period we had operational control of those operations and (c) monetary amounts in this report are expressed in US dollars.

Refer to page 14 for an explanation of how the divestment of South Africa Energy Coal and acquisitions of recent mines have been reflected in this report.

Refer to page 69 for information on what is covered by the metrics describing GHG emissions in the Climate Change Action Plan.

We engaged an independent external assurance organisation, KPMG, to provide the Directors of South32 Limited with assurance on select sustainability information, as explained in the independent assurance report in our Sustainability Databook.

Forward-looking statements and scenario analysis

This report contains forward-looking statements, including statements of current intention and expectation and statements of opinion. This includes statements regarding climate change and other environmental and energy transition scenarios. These forward-looking statements reflect South32's expectations at the date of this report, and they are not guarantees or predictions of future performance or outcomes, or statements of fact. They involve known and unknown risks and uncertainties, which may cause actual outcomes and developments to differ materially from those expressed in such statements. For further information regarding South32's approach to risk, see pages 26 to 35 of our Annual Report.

South32 makes no representation, assurance or guarantee as to the accuracy, completeness or likelihood of fulfilment of any forward-looking statement, any outcomes expressed or implied in any forward-looking statement or any assumptions on which a forward-looking statement is based.

There are also limitations with respect to scenario analysis which is discussed in this report, and it is difficult to predict which, if any, of the scenarios might eventuate. Scenario analysis is not an indication of probable outcomes and relies on assumptions that may or may not prove to be correct or eventuate.

Except as required by applicable laws or regulations, South32 does not undertake to publicly update or review any forward-looking statements. Past performance cannot be relied on as a guide to future performance. South32 cautions against reliance on any forward-looking statements or guidance, particularly in light of the long time horizon which this report covers and the inherent uncertainty in possible policy, market and technological developments in the future.

Information prepared by third parties

Certain information contained in this report is based on information prepared by third parties. South32 does not make any representation or warranty that this third party material is accurate, complete or up-to-date.

  1. In this report, references to 'joint arrangements' mean operations that are not wholly owned by South32, such as joint ventures and joint operations. Joint arrangements are classified in accordance with IFRS 11 Joint Arrangements. Joint arrangements and entities that are not operated by South32 are not included in this report unless otherwise stated.
  2. This report refers to commodities 'we produce' and commodities in 'our portfolio', which include commodities such as bauxite, alumina, aluminum and copper that may form part of, or be produced by, entities not operated by South32. References in this report to commodities 'we produce' or in 'our portfolio' should be read in this context.

Cover: A community member and external affairs specialist near our Cerro Matoso operation in Colombia.

Below: Community members in KwaZulu-Natal province in South Africa.

ACKNOWLEDGEMENT

We acknowledge and pay our respects to the Indigenous, Traditional and Tribal Peoples of the lands, waters and territories on which South32 is located and where we conduct our business around the world.

We respect and acknowledge the unique cultural and spiritual relationships that Indigenous, Traditional and Tribal Peoples have to the lands, waters and territories, and their rich contribution to society.

In the spirit of respect and reconciliation, we will continue to support initiatives that strengthen culture and ways of life so that their legacy continues and extends to future generations.

OVERVIEW

Contents

OVERVIEW

About this report

IFC

About us

2

Year in review

3

From the CEO

4

Where we operate

6

Our business model

8

Our sustainability approach

10

PROTECTING AND RESPECTING OUR PEOPLE

Health and safety

16

People and culture

22

DELIVERING VALUE TO SOCIETY

Partnering with communities

28

Our societal contribution

34

OPERATING ETHICALLY

AND RESPONSIBLY

Ethics and business integrity

41

Human rights

43

Responsible value chain

46

MANAGING OUR

ENVIRONMENTAL IMPACT

Water

52

Biodiversity and land use

57

Tailings, waste, and other emissions

64

ADDRESSING CLIMATE CHANGE

Climate change and greenhouse gas

emissions - Climate Change Action Plan

69

APPENDICES

Glossary of terms and abbreviations

102

SOUTH32 SUSTAINABLE DEVELOPMENT REPORT 2022

1

About us

SOUTH32 IS A GLOBALLY DIVERSIFIED MINING AND METALS COMPANY

We produce commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from our operations in Australia, southern Africa and South America. With a focus on growing our base metals exposure, we also have two development options in North America and several partnerships with junior explorers around the world.

Making a difference

Our purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources.

Learn more about how we improve people's lives in our Annual Report at www.south32.net

Optimise | Unlock | Identify

Our purpose is underpinned by a simple strategy which is focused on optimising the performance of our operations, unlocking their potential and identifying new opportunities to create value for all of our stakeholders.

Learn more about our strategy in our Annual Report at www.south32.net

Care | Trust | Togetherness | Excellence

While our strategy outlines what we do to achieve our purpose, our values of care, trust, togetherness and excellence guide how we do it. Every day, our values shape the way we behave and the standards we set for ourselves and others.

Learn more about our people on page 15

2 Overview

Year in review

OUR PERFORMANCE AT A GLANCE

Total Recordable Injury Frequency (TRIF)(1)

Total Recordable Illness Frequency (TRILF)(2)

5.3

1.3

5.3

1.3

FY22

FY22

FY21

6.0

FY21

1.8

Community investment(3)

Local procurement(4)

US$31.1m

US$907m

US$31.1m

US$907m

FY22

FY22

FY21

US$22.2m

FY21

US$856m

Women in our workforce

Operational greenhouse gas (GHG)

19.2%

emissions

21.0 Mt CO2-e

FY22

19.2%

18.4%

FY22

21.0 Mt CO2-e

FY21

FY21(5)

20.7 Mt CO2-e

  1. TRIF baseline was adjusted at end FY21 to account for the removal of South Africa Energy Coal (SAEC) and Tasmanian Electro Metallurgical Company (TEMCO) from the portfolio, measuring our FY22 performance against a TRIF of 6.0.
  2. TRILF baseline was adjusted at end FY21 to account for the removal of SAEC and TEMCO from the portfolio, measuring our FY22 performance against a TRILF of 1.8.
  3. Community investment consists of direct investment, in-kind support and administrative costs.
  4. Local procurement is defined as the direct purchase of goods and services within the local communities in which South32 operates. Suppliers are determined as 'local' based on their proximity to the local communities, including boundaries defined by local government areas, provinces and states.
  5. FY21 emissions adjusted to exclude GHG emissions from SAEC and TEMCO, which were divested in FY21.
  6. In this report we use particular terminology in relation to climate change. Definitions of the terms 'goal', 'target' and 'low-carbon' when used in the context of climate change are set out in the Glossary of terms and abbreviations on page 102 of this report.

Highlights

  • Total Recordable Injury Frequency decreased by 12 per cent and we developed a three-year global Safety Improvement Program, designed to achieve a step-change in our safety performance.
  • Set a new goal of net zero Scope 3 GHG emissions by 2050(6).
  • Enterprise Supplier Development spend in South Africa more than tripled to US$17 million.
  • Direct spend with Aboriginal and Torres Strait Islander businesses in Australia increased by 34 per cent.
  • Developed and deployed a 'Living our Code' training and discussion series to over 5,500 employees creating conversation around our expected behaviours.
  • Established a target for operations in baseline water stress to achieve at least a 10 per cent improvement in water use efficiency by FY27.

SOUTH32 SUSTAINABLE DEVELOPMENT REPORT 2022

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

South32 Ltd. published this content on 09 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2022 02:39:02 UTC.


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