At Royal Bafokeng Platinum, we are committed to sustainable development as an integral part of the way we do business in all our operations.
The wellbeing of our business depends on the safe, cost-effective and profitable extraction of platinum group metals (PGMs) over the life of the resource, with due consideration for the needs and expectations of all our stakeholders.
RBPlat has an integrated approach to managing sustainability. Our mission, vision and values provide the fundamentals for our approach to our framework for sustainability. Our Board regularly monitors and assesses our performance (this includes the Company's sustainable development matters as well) against key performance indicators for the following sustainability objectives:
- Safety and health stewardship – to adopt a safety first philosophy to achieve zero harm to our employees through effective and efficient monitoring, prevention and management of safety and occupational health risks.
- Human capital development – to adopt a people first philosophy which enhances the intellectual and productive capacity of our employees
- Ore body development – to secure the long term viability of our PGM resource through the efficient exploration and development of our ore reserves to create immediately available ore reserves (IMA) and immediately stopable faces (IMS)
- Economic capital – to employ cost effective and efficient investment capital methods for the production of PGMs to generate a risk-adjusted rate of return
- Environmental stewardship – to employ mine development and extraction methods that minimise damage, pollution and disturbance to the natural environment and ecosystems
- Social development – to empower communities to sustain themselves beyond mining activities
- Manufactured capital – to develop, seek and implement relevant and appropriate PGM production approaches in order to enhance both safety (zero harm) and productivity performance
- Asset protection and security – to acknowledge and recognise the direct and indirect impact of our business and to openly engage, communicate and respond to stakeholder concerns and interests
- Corporate governance and ethics – to lead the business in accordance with best practice principles and compliance with regulations for sustained stakeholder value creation
- Stakeholder engagement and reputation management – to acknowledge and recognise the direct and indirect impact of our business and to openly engage, communicate and respond to stakeholder concerns and interests.
Sustainability and stakeholder engagement framework
RBPlat has an approved sustainability and stakeholder engagement framework which guides the operation in implementing sustainability in all aspects of the business.
- Stakeholder engagement
- Sustainability reporting
The framework is in line with the RBPlat sustaianability policy.
A management Sustainability Committee has been established to advise and drive the implementation of the sustainability policy, sustainability framework and other pertinent systems and processes.
The committee has been established to assist the Board and its committees and is essential for the implementation and co-ordination of sustainability activity throughout the company.
Each and every financial year we provide our stakeholders with an integrated view of our economic, social and environmental performance in the form of our integrated reporting.
We strive through our integrated report to provide a complete and balanced view of our performance in terms of both the challenges and the successes. It conforms to the requirements of local and international reporting frameworks, including those of the South African Companies Act 2008 and the JSE Listings Requirements. We used the International Integrated Reporting Framework to guide us in structuring our report to show the connectivity between material information on our strategy, governance, performance and prospects and how strategy affects and is affected by environmental, social and financial issues.
We have also applied King III and the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code) and have been guided by the Global Reporting Initiative’s (GRI) G4 guidelines and its Mining and Metals sector supplement.
Assurance of sustainability information
We have adopted a combined assurance process to ensure we have adequate assurance (including sustainability data assurance) across the RBPlat Group.
Climate change strategy
RBPlat has a Climate Change strategy that has been approved by the board. This strategy is used to ensure that the business is proactively managing its climate change risks, opportunities and supporting the commitments made in the SHE Policy and Sustainability Policy.
The Climate Change Strategy is aligned to RBPlat’s Strategy in two ways:
1. RBPlat’s Strategy is influenced by Stakeholders, Governance, Risk Management, Financial Position, and People. The Climate Change Strategy addresses each of these, as illustrated in the diagram below:
Figure 1: Alignment of the Climate Change Strategy to RBPlat’s Strategy: Influences on the Strategy
2. The Climate Change Strategy will support the four pillars of RBPlat’s strategy by contributing and addressing a number of material issues and associated risks that have been identified by the business, as illustrated in Figure 2 below:
Figure 2: Alignment of the Climate Change Strategy to RBPlat’s Strategy: Addressing material issues and risks.
RBPlat also have a Climate Change Policy Statement that is core to the climate change Strategy. It highlights, at a high level, RBPlat’s acknowledgement of and response to the climate change.
RBPlat’s Climate Change Position Statement
Royal Bafokeng Platinum recognises that climate change is an important global and local issue that requires urgent attention from all members of society. As a platinum group metals producer, we recognise that our activities have an impact on climate change through the production and release of greenhouse gas (GHG) emissions which contribute to global climate change. Climate change has the potential to alter the environment in which we operate through increasing incidences of extreme events and slower changes to climate patterns that could impact on our ability to operate safely and continue to support our stakeholders.
Royal Bafokeng Platinum therefore encourages all leaders of South Africa and other nations to take a stand and together build expertise, capacity and resilience strategies to ensure adaptation to climate change impacts for our benefit, and for future generations. Reaching an effective agreement during the CoP 21 negotiation in Paris, based on the principle of common but differentiated responsibilities, would provide us with policy certainty and the necessary confidence to allow us to continue to grow in a sustainable manner. We therefore call upon all parties including the South Africa government to reach an agreement on a global carbon price to provide clear direction in the interest of both local and international business stability and the transition to a low carbon economy.
Royal Bafokeng Platinum also calls on developed countries to provide the technical and financial support required by developing countries, including South Africa, to respond appropriately to climate change. In doing so, we support the need to increase rapidly the contribution to the Green Climate Fund and for there to be a transparent and efficient means of disbursement and allocation.
Addressing the causes and adapting to the impacts of climate change is core to our strategy which seeks to deliver “More than Mining” by creating economic value for all our shareholders. We recognise the need to take an integrated approach to resolving climate change and other developmental challenges in South Africa, such as poverty, unemployment and inequality. As such Royal Bafokeng Platinum is committed to reducing our GHG emissions through implementing a comprehensive climate change strategy that aims to use natural resources efficiently, while building resilience in communities that surround our operations, creating employment and supporting local businesses.
We also encourage the global business community to implement actions that contribute to reducing GHG emissions, but also to prepare to manage the consequences that could result from a changing climate. To achieve our objectives, Royal Bafokeng Platinum has implemented a number of energy and water efficiency projects on our existing operations, and integrated the principles of resilience into the construction of new mining operations and community support projects. This includes investing in a water treatment plant to treat 4 million litres a day of industrial process water to reduce our reliance on potable water and maximise the use of our industrial water.
We are also committed to our employees and surrounding communities and have begun to implement an innovative employee housing scheme which provides secure, long term accommodation, while integrating the best practices of sustainable housing. To date we have built 422 houses and 92% of those are occupied by our employees, a further 3,000 houses are planned to be built.
Looking to the future, Royal Bafokeng Platinum will embrace the imperative of measures to combat climate change while at the same time collaborating with business, NGO’s and government to take advantage of opportunities to offset potentially negative socio-economic effects. This outlook will put us at the forefront of a dynamic that will lead to activities that promote resource efficiency, clean energy deployment, employment creation and increased economic growth for both Royal Bafokeng Platinum and South Africa, which is aligned to our slogan: more than mining.
Royal Bafokeng Platinum therefore calls upon all stakeholders, including government, business, labour and civil society to work collaboratively in developing innovative solutions that can address climate change, but also contribute to transitioning South Africa and the world to a low carbon growth path.
Caring for Climate endorsements
We have endorsed the Caring for Climate Initiative, which is the largest business movement to address climate change. It has been endorsed by more than 60 countries. RBPlat is also a signatory to the Climate Disclosure Standards Board (CDSB) fiduciary and climate change disclosure.
United Nations Global Compact (UNGC)
RBPlat is a signatory to UNGC and supports the 10 principles of the Global Compact with respect to human rights, labour, environment, and anti-corruption. We annually submit a Communication of Progress (COP) that describes our company efforts to implement the UNGCC ten principles.
Our Integrated Report also forms part of our COP to the UNGC.
Carbon Disclosure Project (CDP)
As part of our commitment to environmental management, we participate and submit on annual basis the Water Disclosure Project and Climate Change Disclosure Programme to CDP, an international, not-for-profit organisation providing the global system for companies and cities to measure, disclose, manage and share vital environmental information.