Our sustainability progress is measured annually. In this way, our aim is to provide an objective and independent view and also make sure we get available information about global best practices. These measurements will let us know whether we are moving at the necessary speed and whether we are on the right track.
We have chosen four sustainability indices that can provide us with quantifiable information and help us with targeting our different stakeholder groups.
Both the Dow Jones Sustainability Index and Clarity AI are highly relevant for our shareholders and investors and provide comprehensive coverage of environmental, social and governance (ESG) issues. We use the Labor Relations Index to create and improve future action plans for relationships with our employees.
The SSIndex is a central tool for Molymet and its subsidiaries, rather than an index or a ranking in itself, as it provides us with a cross-cutting view of the perception of our different stakeholders.
Main Findings of DJSI and Clarity AI
We recently closed measurement of the indices for 2021 and already, we have a general analysis of the main strengths and opportunities for improvement we need to to work on in the short and medium-term:
Strengths
1
Corporate Governance.
2
Capital Development.
3
Corporate Citizenship and philanthropy.
4
Use of resources.
Opportunities to improve
1
Incorporate sustainable policies in the board.
2
Diversity of the board members.
3
Transparency in relation to risk management and tax matters.
4
Identify community impacts and minimize them..
5
Verify sustainability and emissioins reporting to demonstrate commitment to climate change.
Labor Relations Index
The embodiment of Molymet’s purpose requires a review and update in all our management areas, especially inside the organization. This index allows us to diagnose and manage our labor issues in three areas relevant to our organization:
- Organizational trust
- Labor relations with unions
- People management policies
2021 was the first year we measured ourselves against this index. Having started with started with Molymet Corporate and our American subsidies, we can already draw some useful conclusions for moving forward.
During 2021, our labor Relations Index was 62.7 points.
Strengths
1
High levels of trust and good interpersonal skills.
2
Prestige, stability and technical quality.
3
Recognized industry leadership and ongoing innovation.
Opportunities to improve
1
Increased integrated development of Employees (human, professional and productivity).
2
Enhance innovation capacity.
3
Promote development systems in leaders and teams.
Stakeholders Sustainability Index
The SSIndex helps to assess risks associated with the behaviors of employees, customers, suppliers, neighbors and authorities by connecting our purpose, values and corporate sustainability strategy with the expectations and perceptions of our stakeholders.
The process is conducted on an annual basis, using on-line, paper, anonymous links and telephone surveys. Representativeness is fundamental to successful measurement and the level of participation by each stakeholder group is detailed below:
Sample Representation by Stakeholder
The results show that 72% of the people surveyed (1,264) are committed to Molymet’s risk management and sustainability.
Corporate governance, internal social and external social pillars show the same levels, while the environmental pillar represents the main opportunities to improve.
The findings show that in relation to each individual stakeholder group, the perceptions of our suppliers and customers is that we have excelled, while the perceptions of our neighbors and employees show that there are still more opportunities to improve.
