IGO SUSTAINABILITY REPORT 2022— 35 34 —IGO SUSTAINABILITY REPORT 2022 Our Approach to Sustainability Educate & Promote Market Facing Engage & Demonstrate Community Facing Garner Support Government Facing Connect & Motivate Internal Facing Learn & Sense Customer and Research & Development 2 3 4 5 1 IGO’S Principles For Stakeholder Engagement S&P Global Yearbook IGO are proud to be included in the 2021 S&P Global Sustainability Yearbook for the second time in FY22, which identifies the top 15% high performing sustainable companies in the metals and mining industry. This is our second inclusion following an ESG score of 63 in last year’s DJSI, a global sustainability benchmark offered by S&P Global. This achievement reflects IGO’s continual commitment to sustainability and Making a Difference. In order to be listed in the Yearbook, companies must score within the top 15% of their industry and must achieve an S&P Global ESG score within 30% of their industry’s topperforming company. IGO are the only Australian company in the metal and mining category to be included in the yearbook in FY22. This achievement shows that IGO’s sustainability practices rank with the best of resource companies, certainly in Australia, and also globally. CDP The CDP is an independent, non-profit organisation that runs a global disclosure system to encourage companies worldwide to measure and manage their ESG impacts. IGO participated in two assessments in FY22 — climate change and water. Our climate change score remained a C and our water disclosure was scored as B-. IGO made the decision not to respond to the 2022 forest questionnaire, as CDP have still yet to develop its scoring methodology for mining companies. As such, participation in the forest questionnaire would not be scored. ISS Environmental and Social Disclosure Quality Score (ISS) ISS uses a scoring and screening process to measure and identify areas of ESG risk through company disclosure. This assists investors in their assessment of a portfolio’s exposure to risk. They assess the quality of ESG practice across industry groups, such as metals and mining, with a score of one to 10, with one indicating ‘better disclosure and lower risk.’ In FY22, IGO had strong ESG results, scoring one for governance, three for environment and three for social risk. Global Reporting Initiative (GRI) GRI is an independent organisation with an international framework outlining benchmark standards for sustainability reporting. We prepare our annual Sustainability Report in line with the GRI Sustainability Reporting Standards (Core option) and the GRI Mining and Metals Sector Supplement, however, IGO commit to reporting above and beyond what is required of the Core option to ensure full transparency. Our GRI content index can be found on page 106. Russell FTSE4Good The Russell FTSE4Good is a responsible investment index that helps investors identify companies that meet globally recognised corporate responsibility and sustainability standards. In FY22, IGO was included in the index for the first time. Benchmarking Summary In FY22, our overall sustainability performance improved or remained consistent in the DJSI, CDP and ISS benchmarking assessments. The quality of corporate sustainability reporting is also completed by various non-government organisations and investment bodies such as the ACSI which conducts an annual review of the quality of ESG reporting by each ASX 200 company. ACSI has rated IGO’s sustainability reporting as Comprehensive for the last seven consecutive years. We are also proud to report our achievements in the ARA. IGO achieved a Gold Award for our Sustainability Report in 2020 and 2021. The ARA criteria are based on global best practice reporting and is a reflection of IGO’s focus on sustainability and transparent public disclosure. Engaging our Stakeholders It is important that we deliver shared value and ensure that our contributions make a positive impact on the long-term vibrancy and sustainability of our host communities, landholders and Traditional Owners of the land in which we operate. Our success depends on our ability to listen to our stakeholders and host communities, to build and maintain strong relationships, and to engage with others ethically and honestly. We consider any person or organisation with an interest in our activities an IGO stakeholder. This includes those who influence our business decisions and those who are potentially affected by our activities. IGO stakeholders include: • employees • Traditional Owners and neighbouring communities • suppliers and contractors • customers • governments and regulators • shareholders, investors and analysts • our joint venture partners • non-government organisations • special interest groups • civil society • learning and research partners • peers and industry associations; and • media. Principles for Engagement Guided by IGO’s Code of Conduct and Common Management System Standard 7 – Communication, Consultation and Participation, we engage ethically, fairly and honestly with all stakeholders. We do this to understand stakeholders’ concerns, manage risks, seek opportunities and to create shared value. We believe that meaningful, transparent and consistent communication, both internal and external to IGO, key to delivering our purpose and is shaping our culture. Method of Engagement IGO’s long-term success depends on our ability to build and maintain relationships with our stakeholders. In accordance with our Stakeholder Policy, we have a variety of ways to address and respond to stakeholder grievances. These include: • nominating stakeholder relationship ‘owners’ for all our key stakeholders • surveying our host communities to assess their sentiment of IGO and our activities, including undertaking and investing in social impact assessments • maintaining regular involvement in community consultative groups; and • holding public meetings with key stakeholder groups. Our grievance reporting process is promoted within our host communities. Any grievances reported that relate to our business or conduct are recorded and acted upon as considered appropriate. This is in addition to IGO’s Speak Up Standard, which is available on our website. Commitment to External Initiatives and Assessment IGO participates in external benchmarking initiatives and sustainability-related assessments. We are deliberate in our participation, choosing those that add the greatest value to IGO or those more broadly recognised by external parties and investors. The outcome of these external benchmarking assessments informs the continual improvement in our management approaches, sustainability performance and external disclosure. In FY22, IGO actively participated in the following: Dow Jones Sustainability Index (DJSI) The DJSI World Index is a respected global sustainability benchmark for investors to track the stock performance of the world’s leading publicly listed companies in terms of economic, environmental and social criteria. IGO was included as an index component of DJSI Australia and DJSI Asia Pacific in FY22, which includes those companies assessed as being among the top 30% of sustainable businesses within the ASX 200 listed companies and top 20% of the 600 largest companies in the Asia-Pacific developed region in the SP Global BMI respectively.
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