Supporting the Alamos Sustainability Performance Management Framework are sustainability standards developed by the Alamos Corporate Office with input from our sites, management team and industry guidelines, most notably the World Gold Council's Responsible Gold Mining Principles. The Standards are split into four distinct categories:
- Common Elements: Integrating sustainability governance in day-to- day management across all sustainability disciplines.
- Health, Safety & Security: Eliminating hazards that can result in accidents and ill health to our workforce and communities.
- Environment: Improving environmental stewardship and managing the impacts of our activities.
- Community: Building strong and trusting relationships, community support, business security and the delivery of shared and lasting value.
Each Alamos location develops its own supporting procedures and practices within the parameters of the Alamos Sustainability Performance Management Framework.
Risk Management
The Alamos Risk Management Program intends to ensure our strategic objectives are met while protecting our assets, stakeholders, reputation, and the environment. The program objectives are to:
- Understand the risks associated with our business activities through integrating the outputs of various risk functions.
- Reduce the likelihood and consequences of adverse effects to acceptable levels. In relation to health, safety, security, community and environmental issues, risks should be managed to a point that is as low as reasonably practicable.
- Strive to make informed decisions based on understanding the risk tolerance levels, and the reward-to-risk balance at corporate and operating levels.
- Continuously improve our management of risk, thereby providing greater certainty on the delivery of objectives.
The Alamos Risk Committee is responsible for overseeing and monitoring, from a process standpoint, the Alamos Risk Management Program. The Committee’s goal is to ensure a single, integrated, principled approach to risk management throughout the organization. To achieve this, and to ensure that our employees and contractors are informed about the program and their responsibilities, we focus on education, effective policy implementation and continuous risk assessments.
Alamos has completed a study to identify and incorporate climate-related risks – transitional and physical – into its Risk Management Program and financial reporting. Further information is outlined within the Climate Change section of Alamos’ 2023 ESG Report, which has been prepared in support of the recommendations made by the Task Force on Climate-related Financial Disclosures.