Governance


The Board of Directors is responsible for the stewardship of the company and for ensuring that appropriate corporate governance structures and systems are in place. Sustainability is addressed at each Board and Group Management meeting, and in local management meetings. However, day-to-day responsibility is decentralized to each Business Unit.

Sustainability topics and their boundaries

At Boliden, “sustainability topics” are issues that reflect Boliden’s economic, social and environmental impact, as well as issues that can affect assessments and decisions made by its stakeholders.

Boliden has identified sustainability topics that can affect its business model – both positively and negatively – by monitoring and assessing the business environment, stakeholder engagement and sustainability trends. A direction is set for each of the defined topics. The topics are managed and controlled in Boliden’s operations. The sustainability topics are embedded throughout the organization and are approved by Group Management.

Identifying sustainability topics

Sustainability topics for Boliden are based on Boliden’s business model, taking into consideration risks and opportunities identified by business intelligence and risk mapping, as well as applicable requirements and expectations such as:

• Stakeholder expectations

• Current and potential legislative trends

• ISO 9001, 45001, 14001 and 50001 standards and Forest ­Stewardship Council (FSC® COC-000122)

• OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-affected and High-risk Areas

• GRI Standards (Global Reporting Initiative)

• UN Sustainable Development Goals (SDGs)

• UN Global Compact

• ICMM Mining principles

Boliden regularly consults selected stakeholder groups on its sustainability performance from a broader perspective. These stakeholders are asked to comment on Boliden’s performance in order to drive further improvement.

Boliden’s stakeholders

Stakeholder dialogue is an important part of living up to Boliden’s values as a responsible and sustainable company. Stakeholders are defined as groups of people that can be significantly affected by Boliden’s operations. Each stakeholder group is consulted in order to identify significant sustainability topics for Boliden.

Different stakeholders have different views and expectations of Boliden. The ways in which Boliden’s activities relate to the SDGs, to other societal trends and expectations, and to the views expressed internally within the company and in contact with representatives of other stakeholders have all provided important input for the process of defining Boliden’s sustainability topics.

Boliden’s stakeholder groups

Sustainability topics

Dialogue and activities

Employees

– Health and safety

– Development plans

– Compensation and benefits

– Climate

– Employee survey

– Worker councils

– Yearly appraisals

– Climate program and internal dialogue

Society

– Local communities

– Land use

– Resettlementand closure planning

– Rights of indigenous people

– Climate

– Biodiversity

– Public meetings

– Dialogue in application ­processes for permits

– Citizen dialogue and rehabilitation planning

– Dialogue as part of project development

– Dialogue during operation

– Engaging with local communities and indigenous peoples

Market

– Financials

– Health and safety

– Climate

– Customer visits

– Dialogue with banks

– Low-carbon metals ESG ­business partner assessment

Capital markets

– Financial performance

– Risks

– Climate

– Business ethics

– Investor meetings

– Investor Relations days

– TCFD reporting

– ESG rating

Suppliers

– Business ethics

– Human rights

– Compliance

– ESG business partner ­assessments

– Site visits

– Audits

Environment

– Emissions to air

– Discharges to water

– Land use

– Measurements and follow-up

– Studies with universities

– Preventive actions to avoid impacts on air, land and water

Boliden and the Sustainable
Development Goals (SDGs)

Many of Boliden’s sustainability topics are related to specific SDGs. Boliden supports all the SDGs, but has identified the most important goals to its business to show how it contributes to cross-sector international efforts to solve global development issues. Boliden’s work toward these goals has a positive impact on its ability to become a world-class metals company and a sustainable first link in metal value chains.

Boliden’s most relevant and prioritized SDGs are:

SDG 8 – ­Decent work and economic growth
Boliden promotes sustained, inclusive and sustainable economic growth, productive employment and decent work for all, including in rural communities where most of its mines are located.

 

SDG 12 – ­Responsible consumption and production
Boliden’s operations produce metals efficiently and with comparatively low-carbon footprint. Some processes create value from societal waste and secondary materials to contribute toward the circular economy.

     

SDG 13 – ­Climate ­action
Boliden is working to reduce its climate impact and to constantly maintain and improve low-carbon footprint on its metals.

 

Boliden also considers SDG 5 (Gender equality), SDG 14 (Life Below Water) and SDG 15 (Life on land) to be relevant to its business.

102–47  List of sustainability topics that are managed in order to create trust, enable strategy or to create value.

IMPACT

TOPIC

DIRECTIONS

UN SDG

Financial performance

Contribute to long-term economic growth by providing metals that are important for society’s sustainable development. Pay the right amount of tax at the right time.

8.3

Market presence

Contribute to local employment levels, trade and industry by generating purchasing power and providing a critical base for social services.

8.3

Capital market

Boliden ensures its access to financing and sustainable loans. Be the preferred metal and mining investment.

8.4

Indirect economic impacts

Contribute to job creation indirectly or induced through subcontractors, suppliers or the effect of employee expenditure.

8.3

Anti-corruption & anti-competitive behavior

Promote and monitor compliance throughout the company by following the Code of Conduct, and Boliden’s Anti-Bribery and Corruption Program. Contribute to free and fair competition.

16.5

Strategic partnerships

Create a positive financial, environmental and social impact through Boliden’s business relations.

17.16, 17.17

Business partner Environmental, Social and Governance (ESG) assessment

Promote transparent business partner governance. Expect business partners to follow Boliden’s Business Partner Code of Conduct.

12.2, 12.4, 12.5, 16.2, 16.5

Legal framework & compliance

Always meet permit values and legal requirements. No serious environmental incidents.

16.2, 16.4, 17.17

Circular economy & resource usage

Contribute to the circular economy through recycling and by maximizing metal recovery from the available raw materials. Invest in and promote the development of new products and eliminate waste.

8.2, 8.4, 9.4, 12.1, 12.2, 12.5-12.8

Extractive waste & slag

Minimize waste. Tailing facilities to comply with the global industry standard on tailings management.

12.5

Energy & Climate

Implement and maintain energy management systems to achieve energy efficiency and conserve energy. Provide society with low-carbon metals. Reduce carbon dioxide intensity through improved process efficiency and increased electrification with the aspiration to create a fossil free mine.

7.3,  13.2, 13.3 

Water

Reduce the consumption of fresh water and the discharge of used water. Maintain water management plans. ­Reduce discharges of metals to water.

12.2

Biodiversity

Contribute to increased biodiversity by 2030 in all regions where Boliden operates.

15.5

Air pollution emissions

Reduce emissions to air through improved process efficiency.

14.3

SOCIAL

Talent attraction & retention

Provide an attractive workplace. Facilitate career and skill development. Foster workforce diversity that reflects the local community.

5.1, 8.5, 8.8

Occupational health & safety

Provide a safe and healthy workplace.

8.8

Non-discrimination

Zero tolerance for all forms of harassment and discrimination on the basis of gender, ethnicity, age, disability, religion, sexual orientation or any other factor.

5.1, 8.5, 8.8

Sustainable business growth & stakeholder relations

Maintain good community relations and the effective management of Boliden’s operations. Ensure social license to operate.

11.3, 11.a

Resettlement & closure planning

Plan for the conservation and reclamation of mining areas during their operation and end of production lifespan.

11.3, 11.4, 14.2, 15.5

Rights of indigenous people

Promote open dialogue and long-term cooperation with indigenous people in order to mitigate the impacts of Boliden’s mining activities on local people and the environment.

10.2