Sustainability is integrated at the Board, executive, and operational levels. Our governance structure creates clear lines of accountability, gives us the flexibility to adapt to unforeseen circumstances, and ensures sustainable practices are considered in all aspects of our business. 

At the Board level, sustainability matters are presented to the Health, Safety, Environment, and Sustainable Development (HSESD) Committee of the Board of Directors at each quarterly Board meeting. 

At the executive level, corporate oversight and implementation of the sustainability program are the direct responsibility of one executive officer – the Executive Vice-President of Operational Excellence who reports directly to the President & CEO. The corporate sustainability team is responsible for overseeing our sustainability strategy, and, in collaboration with the operations and corporate teams, for setting and implementing goals, and measuring progress against key performance indicators. 

At the operational level, processes are in place to ensure that sustainable development matters, including risk assessment and mitigation, are integrated into the day to-day management of our business. General Managers are responsible at the site level for the implementation of our RMMS, adherence to our Sustainable Development Policy and continuous improvement toward our sustainability goals. 

Agnico Eagle developed a series of Guiding Principles to reinforce our management approach and culture throughout the Company.

Anchored in our values

• Open and transparent communications;
• Safe production;
• Highest standards of honesty, responsibility and performance;
• Highest levels of employee engagement;
• Sharing and developing employees’ skills and expertise; and
• Maintaining our entrepreneurial skills and innovative spirit.

Based on collaboration

• Encouraging respectful open debates and healthy discussions; and
• Recognizing success resulting from both exceptional contributions and teamwork.

Clear and simple

• Simple practices based on common sense;
• Clarity on people’s roles and contributions; and
• Alignment of employees and management on our business priorities.

Our mission is to build a high-quality, easy-to-understand business; one that generates superior long-term returns for our shareholders, creates a great place to work for our employees and contributes positively to the communities in which we operate. Our leadership team will continue to deliver on this mission and reflect the values that have propelled our company into a position of leadership in the global business community. Making mining work for all is fundamental to our company’s culture. 

Our business strategy is centered on three pillars: performance, pipeline, people.

For more information on our business performance see our 2022 Annual Report.

Agnico Eagle’s Code of Business Conduct and Ethics outlines the standards of ethical behavior we expect from our people and those working on our behalf around the world. The Code applies to all directors, officers, employees and agents and commits them to conducting business in accordance with all applicable laws, rules and regulations and to the highest ethical standards.

We have also adopted a Code of Business Ethics for consultants and contractors and a Supplier Code of Conduct. The Audit Committee is responsible for monitoring compliance with the adopted codes. We have established a toll-free “whistleblower” ethics hotline for anonymous reporting of any suspected violations of the Code of Business Conduct and Ethics, including concerns regarding accounting, internal accounting controls or other auditing matters, Code of Conduct violations, ethical conflicts, environmental issues, harassment or discrimination.

Agnico Eagle aims to conduct business in accordance with all applicable laws, rules and regulations and the highest ethical standards. We do not tolerate bribery or corruption and we are committed to acting professionally, honorably and with integrity in all business dealings and relationships. Operations and business activities are assessed on a periodic basis to ensure that the requirements of our Anti-Corruption and Anti-Bribery Policy and applicable procedures and guidelines are met. In 2022, no instances of fraud were reported to Agnico Eagle’s Audit Committee and there were no legal actions for anti-competitive behaviour, anti-trust, or monopolistic practices against the company.

We conduct business in regions where human rights laws are respected and promoted, and we are committed to upholding fundamental human rights as defined in the United Nations Universal Declaration of Human Rights. This includes providing assurance that our operations will not support, benefit or contribute to unlawful armed conflict, human rights abuses, or breaches of international humanitarian law. We believe everyone has the right to a life free from modern slavery and condemn all forms of severe exploitation for personal or commercial gain. Agnico Eagle does not tolerate the use of child labour, prison labour, or any form of forced labour, slavery, or servitude. Protection of human rights is managed through our RMMS which incorporates the Responsible Gold Mining Principles (RGMP), Towards Sustainable Mining (TSM) protocols, and the Voluntary Principles on Security and Human Rights (Voluntary Principles or VPSHRs). In 2022, Agnico Eagle conducted a gap analysis between its RMMS and the VPSHRs to ensure the former explicitly addresses all VPSHR requirements and covers practices ongoing at Agnico Eagle’s sites. 

We ensure the protection of human rights by:

- Actively communicating our approach and expectations to all stakeholders, including suppliers

- Engaging with stakeholders to understand the impacts of our activities and working with them to optimize benefits and limit negative impacts

- Implementing effective grievance mechanisms

- Providing human rights training

- Promoting our expectations of suppliers through the Supplier Code of Conduct

We partner with local stakeholders and industry groups to engage on public policy initiatives that support the sustainability of our industry and that of the communities in which we operate. Our priorities include initiatives related to clean infrastructure development in remote areas, training support, the permitting process, land use management, and wildlife protection.

Agnico Eagle Mines’ Stakeholder Advisory Committee (SAC) is comprised of independent stakeholders with expertise in ESG, community development, Indigenous affairs, mining, reporting, and governance matters. SAC members are selected to be representative of civil society. The group was established in 2011 and meets annually to provide constructive feedback and guidance in areas of focus for Agnico Eagle. SAC provides feedback on our corporate social responsibility efforts and helps us make strategic adjustments to stakeholder engagement activities.

The role and operation of the SAC is one of a number of engagement mechanisms and practices in place at Agnico Eagle that align with international standards and frameworks, including: 

The SAC is a relatively unique and valuable arrangement within the Canadian mining sector and provides Agnico Eagle with feedback on our corporate social responsibility efforts and helps us make strategic adjustments to our existing local stakeholder engagement activities.

2022 SAC Key Recommendations Highlights 

Every year the SAC provides Agnico Eagle with a broad list of recommendations. Several were selected for immediate consideration and work continues to advance on addressing them. The full list of recommendations is available below.

Climate Change 

• Disclose emissions and removals from land use in line with Forest, Land and Agriculture Guidance from the SBTi 
• Develop a Scope 3 emissions target once suppliers have stabilized their measurement of Scope 1 and 2 emissions 
• Maintain consistency in communications on the level of ambition on climate action, whether in public disclosures or government advocacy 
• Involve local communities in climate transition planning, and provide periodic updates

Nature & Biodiversity

• Work with Indigenous knowledge keepers to incorporate Indigenous Knowledge into biodiversity strategies and data collection more extensively; 
• Explore participation in the Indigenous Guardians program in Canada and the Indigenous Ranger program in Australia
• Expand community-based monitoring programs to other species and sites, building on lessons learned to-date and consider what role communities can play in providing assurance on nature-related data and information; and 
• Monitor evolving frameworks and initiatives to inform how the company tracks and reports on biodiversity 

Social Responsibility in Exploration and Closure

• Support local leaders in developing economic diversification strategies from exploration to closure activities in alignment with local community visions, needs and goals; and 
• Develop mitigation strategies for addressing the potential negative social impacts of exploration and closure, and the potential social impacts of Fly-In-Fly-Out (FIFO) operations on sending and receiving communities
• Provide additional training for exploration geologists on community engagement, potentially using PDAC’s e3 Plus framework
• Evaluate whether ISO 21795 would add value to Agnico’s mine closure planning and management

Sustainable Supply Chain Management

• Support the development of a holistic approach to “green gold” criteria at an industry level, encompassing local green procurement, Scope 3 emissions, responsible sourcing, traceability and chain of custody, and diversity and human rights due diligence  
• Evaluate whether supplier due diligence requirements could be scaled to be proportionate for SMEs 
• Provide further granularity on supplier diversity in disclosures covering additional EDI dimensions  
• Consider replicating the Nunavut supplier website for other locations

Workforce of the Future

• Explore leveraging and measuring EDI as part of workforce recruitment, retention, and promotion, including the possible use of the Inclusive Finance Playbook to measure inclusion 
• Accelerate efforts to enhance diverse workforce participation including: 

• Hire on the basis of ‘functional skills’ and support upskilling to enhance workforce diversity  
• Consider flexible benefits packages and scheduling (e.g., holiday calendars) to suit multi-cultural needs  
• Integrate inclusion into workplace design and schedules, including community spaces and local languages 
• Evaluate and continue to enhance the effectiveness of intercultural awareness training  

Communications

• Consider obtaining more extensive third-party assurance of ESG data and disclosures, recognizing that different types of third parties will have varying degrees of credibility with different audiences 
• Review key audiences, language and format for external communications e.g. website to ensure it speaks to key target audiences (beyond investors)