Emphasizing the importance of stakeholder involvement
OUR STAKEHOLDERS
Exoben remains committed to promoting local employment, actively recruiting individuals from the communities where it operates whenever operationally feasible.
Employment Strategy
Exoben is dedicated to creating valuable employment opportunities within the local communities situated near its operations. The company prioritizes hiring residents from nearby towns and villages wherever feasible, ensuring that the benefits of its presence are felt directly by the communities. Currently, an impressive 95% of our workforce within the regions we operate are locals from Ghana.
To enhance this commitment, we have established a Local Recruitment Center. This center works in close collaboration with our Human Resources teams to identify and recruit locally qualified individuals for positions before considering candidates from other areas. This localized hiring strategy helps foster community relations and supports local economic growth by keeping employment opportunities within the community.
Moreover, this practice of prioritizing local talent extends to our primary contractors as well. We encourage them to adopt similar hiring strategies, thereby maximizing employment prospects for local residents. By doing so, Exoben not only contributes to reducing unemployment in the areas it operates but also helps in building a skilled and committed local workforce that is integral to our long-term success.
Diversity and Inclusion
To achieve our company’s vision, we have meticulously crafted our governance procedures to support effective risk management. This framework is fundamental to our operations, enhancing our ability to capitalize on opportunities that arise and ensuring that we effectively meet our financial, environmental, and social objectives.
Our governance structure is built on transparency, accountability, and ethical decision-making. It includes a comprehensive set of policies and practices that guide our actions and ensure compliance with both legal requirements and our internal standards. This structured approach allows us to navigate complex challenges and adapt to market changes while maintaining our commitment to sustainability and corporate responsibility.
By prioritizing robust corporate governance, we position ourselves not only to achieve our immediate goals but also to drive long-term success and stakeholder trust. This commitment supports our pursuit of excellence across all aspects of our operations, contributing to a sustainable and prosperous future for our company and the communities we impact.
Advancing Gender Diversity in Ghana
Achieving gender diversity within our operations in Ghana faces significant challenges, largely due to socio-political and cultural barriers that hinder women’s full participation and leadership in the workplace. Despite these obstacles, we are committed to promoting an environment where women can thrive both within our company and in the broader community.
Our comprehensive strategy to increase gender diversity includes several key initiatives:
Establishment of Women in Mining Chapters: We have launched Women in Mining Chapters at each of our operational sites. These chapters aim to promote gender diversity at every level of our operations. They also serve to increase community awareness about career opportunities in the mining industry and to address challenges related to diversity. By fostering dialogue and understanding, we hope to break down barriers that women face in entering and advancing in this field.
Implementation of Family-Friendly Policies: Recognizing the importance of work-life balance, we have integrated family-friendly policies that cater to the needs of all employees. This includes offering paternity leave and flexible work schedules, making it easier for both men and women to manage their family responsibilities alongside their professional roles.
Creating Supportive Work Environments: We are dedicated to cultivating a workplace where women feel valued and supported. This involves building an inclusive culture that acknowledges and celebrates diverse perspectives and backgrounds, ensuring that all employees feel part of a welcoming and supportive community.
Partnerships with Vendors: Our commitment to diversity extends beyond our immediate operations. We collaborate closely with our external vendors to ensure that they too are aligned with our diversity goals. This collaboration helps to amplify our impact and ensures consistency in our approach to inclusivity across all aspects of our business.
Through these focused efforts, we aim not just to meet our gender diversity objectives but to create a lasting impact that will enable women to succeed and lead in the mining industry, thereby enriching our workforce and the communities we serve.
Protection of Human Rights
Respecting and upholding human rights is essential for our company, not only as a moral obligation but also as a fundamental aspect of providing substantial and lasting social value to our stakeholders. We are committed to promoting and safeguarding the human rights of everyone associated with our operations, including employees, contractors, value chain members, and community residents. This commitment is especially crucial for disadvantaged or underrepresented groups who may be more vulnerable to violations.
Our approach to protecting human rights includes several key initiatives:
Comprehensive Policies and Training: We have developed and implemented comprehensive human rights policies that guide our actions and decision-making processes. Regular training sessions ensure that our employees and contractors understand these policies and their own responsibilities to uphold these standards.
Due Diligence and Risk Assessment: We conduct thorough due diligence and risk assessments to identify and address potential human rights risks in our operations and supply chain. This proactive approach helps prevent human rights abuses and ensures that our business practices do not inadvertently harm the communities we operate in.
Stakeholder Engagement: We engage actively with local communities and stakeholders to understand their concerns and expectations regarding human rights. This engagement is crucial for maintaining transparent communication and for adapting our strategies to meet community needs effectively.
Support for Underrepresented Groups: We place a particular emphasis on supporting and empowering underrepresented groups by facilitating access to resources, employment opportunities, and decision-making platforms. This focus helps ensure that these groups are not only protected but also given opportunities to thrive.
Monitoring and Reporting: Continuous monitoring and regular reporting on our human rights performance keep us accountable and transparent to our stakeholders. These reports provide insight into our challenges and progress and are vital for continuous improvement.
By integrating these practices into our daily operations, we aim to maintain a high standard of respect for human rights across all areas of our business. Our goal is to create an inclusive environment where human rights are actively promoted and protected, contributing to the overall well-being and development of the communities we serve.
Human Rights and Security Guiding Principles
Our commitment to safety and security is deeply interwoven with our dedication to human rights. Our security protocols are meticulously designed to align with the United Nations Voluntary Principles on Security and Human Rights (VPSHR). These principles serve as a robust framework for ensuring that our operations maintain the highest standards of safety and security without compromising human rights.
To implement these principles effectively, our security personnel, which includes both contractors and public security agencies, receive comprehensive annual training on the VPSHR guidelines. This training focuses on Violence Prevention and Security Hazard Reductions (VPSHR), equipping our teams with the knowledge and skills needed to manage security in a manner that respects human rights and promotes safety.
We also take the following steps to reinforce our commitment:
Continuous Monitoring and Evaluation: Regular assessments are conducted to monitor the effectiveness of our security measures at each location. This ongoing evaluation helps us identify areas for improvement and ensure that our practices remain in line with international standards.
Stakeholder Engagement: We engage with local communities and stakeholders to understand their security concerns and ensure that our security practices do not infringe on their rights or well-being. This dialogue is crucial for maintaining transparency and trust between our operations and the communities we serve.
Incident Reporting and Response Protocols: We have established clear protocols for reporting and responding to security incidents that may involve human rights issues. These protocols ensure timely and effective responses that prioritize the protection of all individuals involved.
Collaboration with Experts: We collaborate with human rights and security experts to continually update our training programs and operational procedures. This expert advice helps us stay abreast of the latest developments and best practices in security and human rights protection.
Through these comprehensive measures, we aim to create a secure operational environment that upholds the principles of human rights, ensuring that both our workforce and the communities around our operations are safe and respected.
Human Rights and Security Guiding Principles
At every stage of our value chain, from sourcing raw materials to delivering finished goods, we are committed to ethical practices and responsible sourcing. We procure a diverse range of goods and services from vendors across Africa, Europe, Asia, and North America. Our supply chain is critical to our operations, providing not only skilled labor and raw materials but also direct and indirect materials along with various other services essential to our business.
To ensure the integrity of our supply chain and combat modern slavery, we have implemented a robust Contracts and Supply Framework. This framework aligns with Our Values, adhering to a strict ethical conduct framework, and incorporates stringent environmental and social criteria. Here’s how we expand on these commitments:
Vendor Screening and Compliance: Every vendor we engage with undergoes a thorough screening process to ensure compliance with our ethical standards and legal requirements. This includes due diligence checks to identify any risks related to modern slavery or unethical practices.
Continuous Education and Training: We provide regular training for our procurement teams and suppliers on the importance of ethical sourcing and the indicators of modern slavery. This education helps ensure that our staff and partners are equipped to recognize and address potential issues before they impact our supply chain.
Auditing and Monitoring: We conduct regular audits of our suppliers to verify their compliance with our standards. These audits are crucial for maintaining transparency and accountability, ensuring that our ethical sourcing policies are being followed.
Collaboration and Partnerships: We collaborate with NGOs, industry groups, and other stakeholders to stay updated on best practices in combating modern slavery. These partnerships also help us to refine our strategies and implement more effective measures across our operations.
Public Reporting and Transparency: We commit to transparency by publicly reporting our efforts and progress in combating modern slavery. This not only holds us accountable but also encourages an industry-wide move towards more ethical and responsible business practices.
Through these measures, we aim to not only comply with international standards but also lead by example in the fight against modern slavery, ensuring that our supply chain reflects our dedication to human rights and environmental sustainability.
Upholding the Rights of Workers
Our commitment to protecting the legal rights of our workers is a cornerstone of our organizational philosophy. We firmly believe in the right of our employees to freely associate, join labor organizations of their choice, and engage in collective bargaining without any fear of retaliation or discrimination. Ensuring these rights is not just a legal obligation but a vital component of fostering a workplace culture founded on trust and mutual respect.
To expand on these commitments, we engage in several key practices:
Promotion of Free Association: We actively promote an environment where workers feel safe and encouraged to form or join associations and labor unions. This support is crucial for empowering our employees to have a voice in matters that affect their work and lives.
Facilitation of Collective Bargaining: Our approach to collective bargaining is guided by transparency and fairness. We facilitate these negotiations with the intent to create outcomes that are beneficial for both the employees and the business, ensuring that all voices are heard and considered.
Open and Cordial Communication: At the heart of our employee relations strategy is the commitment to open and friendly communication. We maintain regular dialogues with employee representatives to collaboratively identify and solve workplace issues, enhancing overall job satisfaction and productivity.
Compliance with Legal Standards: We ensure that all our practices not only meet but exceed the minimum legal requirements. Our policies and procedures are regularly reviewed and updated to align with new laws and best practices, guaranteeing that our commitments to worker rights are always at the forefront.
Conflict Resolution: We have established clear mechanisms for resolving disputes and grievances. These processes are designed to be accessible and effective, providing a fair means for addressing any issues that may arise.
Training and Development: We provide ongoing training for management and staff on the importance of labor rights, aiming to build a leadership team that upholds these values and a workforce that is aware of its rights.
By adhering to these principles, we not only protect the rights of our workers but also contribute to the creation of a productive, happy, and secure workplace. This commitment reflects our broader values of respect, fairness, and cooperation, and is essential for sustaining long-term success and employee satisfaction.
Security, Health, and Well-being
Ensuring the security, health, and well-being of our workers and contractors throughout our entire value chain, from exploration through to closure, is paramount to our operations. We recognize that a safe working environment is not only a fundamental right of all employees but also a critical component of our business success. Our ultimate aim is the elimination of all workplace incidents, with a steadfast commitment to achieving zero injuries.
To advance this commitment, we implement several comprehensive strategies:
Proactive Risk Management: We employ rigorous risk assessment and management protocols at every stage of our operations to identify and mitigate potential hazards before they can result in harm.
Continuous Training and Education: Ongoing education and training programs are crucial. We ensure that all employees, from new hires to seasoned professionals, receive regular training on the latest safety practices and emergency response techniques.
Health and Wellness Programs: Beyond immediate safety concerns, we invest in the overall health and well-being of our staff. This includes access to wellness programs that support both physical and mental health, recognizing that a holistic approach to well-being can significantly impact safety and productivity.
Innovative Safety Technologies: We continuously explore and integrate cutting-edge technologies that enhance safety measures. From wearable tech that monitors health indicators to automated systems that can predict and alert staff to potential safety issues, technology plays a key role in our safety strategy.
Safety Culture and Employee Engagement: We foster a culture where safety is everyone’s responsibility. Regular consultations with employees and feedback mechanisms allow us to gather insights directly from those on the front lines, ensuring that our safety practices are both effective and practically applicable.
Monitoring and Reporting: Robust monitoring and reporting systems ensure transparency and accountability in our safety practices. Regular audits and reviews help us to continually improve our strategies and achieve our goal of zero incidents.
By embedding these principles deeply within our corporate culture and operational processes, we not only protect our workforce but also enhance our operational efficiency and reputation as a responsible and caring employer.
Our Commitment to Performance and Safety
Our overarching objective is to consistently maintain a high standard of occupational health and safety across all levels of our operations, while continually improving our performance in this critical area year after year. Our ultimate goal is to achieve zero harm, ensuring that every employee—whether on the ground or in the office—is safe from injury and occupational illness.
To support this commitment, we have implemented a multifaceted strategy that includes:
Continuous Improvement Initiatives: We are dedicated to continuous improvement in health and safety management. This involves regular review and enhancement of our safety protocols to adapt to new challenges and incorporate best practices.
Employee Training and Development: Ongoing training is a cornerstone of our strategy. We invest in comprehensive training programs that empower our employees with the knowledge and skills they need to perform their jobs safely and efficiently.
Advanced Monitoring Systems: Utilizing state-of-the-art monitoring technology, we track safety performance across all sites. These systems provide real-time data, helping us to quickly identify risk areas and intervene promptly to prevent accidents.
Engagement and Communication: We actively engage with our workforce to foster an open dialogue about safety. This includes regular safety meetings, feedback sessions, and a transparent reporting system that encourages every team member to voice safety concerns without fear of reprisal.
Health and Wellness Programs: Recognizing the link between general health and safety, we provide health and wellness programs that support the overall well-being of our employees. These programs address both physical and mental health, contributing to a healthier, more alert, and more productive workforce.
Leadership and Accountability: Safety leadership and accountability are embedded at every level of our organization. Leaders are trained to prioritize safety, set clear safety goals, and lead by example, fostering a safety-first culture throughout the company.
By systematically implementing these strategies, we aim not only to minimize and ultimately eliminate harm but also to set new industry standards in occupational health and safety. Our dedication to this goal reflects our commitment to our employees’ well-being and our pursuit of excellence in all aspects of our operations.
Commitment to Environmental Sustainability and Responsible Business Practices
At Exoben, we are deeply committed to minimizing the environmental impact of our business activities. We strive to implement sustainable and responsible business practices throughout every aspect of our operations. By integrating these eco-friendly strategies across all departments and processes, we aim to not only protect the natural environment but also to promote a sustainable future through conscientious business operations.
Our Environmental Strategy and Compliance Approach
At Exoben, our commitment to environmental stewardship is demonstrated through our strict adherence to international standards and Environmental Management Systems, alongside compliance with the environmental regulations of our host countries. Our approach involves a thorough Environmental and Social Impact Assessment (ESIA) for all operations at the design stage. This process, conducted in line with global standards and through active consultation with stakeholders, meticulously evaluates the potential impacts on water, air quality, soil, visual aesthetics, and biodiversity.
To effectively manage and mitigate environmental risks, we implement detailed management plans during both the construction and operational phases of our projects. These plans are supported by comprehensive risk assessments aligned with our Risk Management Framework. Additionally, robust monitoring systems are established to ensure ongoing vigilance and responsiveness in identifying, preventing, and reducing environmental impacts. Through these measures, we maintain our dedication to environmental responsibility and continuous improvement in our operations.
Hazardous Materials and Waste Management
The process of extracting and processing gold ore involves the use of potentially hazardous materials and generates a mix of non-hazardous and hazardous waste. We are committed to mitigating the risks associated with hazardous substances and waste to prevent adverse effects on human health and environmental contamination of land and water.
Our operations utilize hazardous substances such as lime, flocculants, caustic soda, hydrochloric acid, explosives, and cyanide. We take proactive steps to manage and monitor all processes related to the transportation, handling, and storage of these materials, particularly cyanide, in strict compliance with the International Cyanide Management Code (ICMC). Additionally, our Operational Emergency Preparedness and Response Plans are in place to effectively handle and respond to any incidents involving the release of chemical substances, hazardous materials, or waste. These plans are supported by regular training sessions and drills, ensuring that our team remains well-prepared and capable of managing any potential emergencies effectively.
The most substantial volume of waste produced in our operations comes from waste rock and overburden. We manage the disposal of this material carefully, either by creating strategically engineered waste rock dumps on-site or using it as backfill in previously excavated pits. Special attention is given to managing waste rock that has the potential to generate acidity, with specific measures in place to prevent Acid Rock Drainage.
We are committed to implementing robust systems designed to address the health, safety, and environmental risks associated with the transportation, storage, management, and disposal of waste and hazardous materials. Our sustainable waste management practices focus on minimizing waste through proven strategies such as reduction, reuse, recycling, and the safe disposal of waste. This approach ensures that we not only comply with regulatory standards but also contribute to the broader goal of environmental sustainability.
Managing Dust, Noise, Blasts, and Vibrations
Our primary goal is to minimize or mitigate the potential impacts of noise, dust, blasting, and vibration—common elements of our operational activities—on our employees, local communities, and the environment.
To achieve this, our facilities are equipped with advanced monitoring systems that measure noise levels, dust concentrations, blast-induced overpressure, and vibrations. These systems help us ensure compliance with legal standards, occupational health and safety requirements, and community expectations. We also actively monitor and record any complaints related to noise, dust, vibration, and structural damage to maintain responsive communication with affected stakeholders.
Regular assessments are conducted to monitor the exposure levels of dust, noise, and vibration that our employees and contractors face. Should these exposures exceed occupational limits, we provide necessary personal protective equipment, including hearing protectors, dust masks, and other respiratory protective gear.
We take all concerns from stakeholders regarding dust, noise, blast, and vibration seriously, thoroughly investigating each issue and implementing corrective measures to address and resolve these concerns effectively.
Land Stewardship and Biodiversity Conservation
We recognize the critical importance of biodiversity conservation, the necessity for well-maintained networks of protected areas, and the significance of cohesive land use planning. Our overarching objective is to protect ecosystems by minimizing or entirely avoiding the adverse effects of land disturbance and biodiversity loss. To this end, we commit to abstaining from any exploration or mining activities in areas designated as World Heritage Sites and will honor the integrity of legally protected regions.
The main biodiversity threats associated with our operations include land clearing, habitat loss and fragmentation, and disturbances to wildlife from light pollution, noise, and vehicle traffic. Our activities may also lead to indirect impacts such as reduced water quality and availability, which are crucial for ecosystem health, as well as the proliferation of invasive species, including weeds, feral animals, and exotic pests. Additionally, human in-migration can lead to further habitat degradation and loss.
To effectively manage biodiversity risks, we employ a structured mitigation hierarchy in our operations. This approach includes a series of strategic actions aimed at environmental preservation: avoidance of sensitive areas, mitigation of impacts through careful management, rehabilitation of disturbed lands, and, where necessary, the implementation of compensatory measures to offset unavoidable damages. These practices are meticulously designed to safeguard both freshwater and terrestrial ecosystems from potential and residual adverse impacts, ensuring that our operations foster environmental resilience and sustainability.
Comprehensive Mine Closure Planning
The process of planning for mine closure is an integral part of our operation, embedded throughout the entire lifecycle of our managed assets—from the initial design phase through operation, and extending into post-closure. This ensures a systematic approach that addresses all associated aspects effectively.
Our primary goal in closure planning is to manage financial, environmental, and social risks comprehensively, with a focus on creating positive, long-term outcomes. We aim to maximize the benefits of mine closure by fostering strong partnerships with local communities and other stakeholders, ensuring their involvement and input are integral to our strategies.
Closure plans are meticulously developed for each operation during the planning phase. These plans cover a range of activities, including altering landforms to fit natural contours, rehabilitating vegetation to restore the local ecosystem, safely dismantling infrastructure, and initiating programs for social closure and economic transition, such as community-based livelihood development projects. Furthermore, these detailed plans serve as a basis for calculating our financial provisions for closure, including bank guarantees that are maintained with governmental bodies and are subject to annual reviews to ensure adequacy and compliance.
During the operational phase, we prioritize the back-filling of pits as much as possible and initiate progressive restoration activities as soon as areas become available. This effort is supported by onsite nurseries that provide plants for rehabilitation and create employment opportunities for local community members. We also actively seek opportunities to collaborate with local communities and government agencies to identify sustainable post-closure land uses. These collaborative efforts aim to ensure that closed mine sites continue to provide long-term environmental, social, and economic benefits, including self-sustaining social programs that contribute to the community’s wellbeing beyond the life of the mine.
Comprehensive Water Management Strategy
We recognize that access to clean, safe water is a fundamental human right, vital for maintaining healthy ecosystems, supporting community livelihoods, and ensuring overall quality of life. Furthermore, sustainable water management is crucial to the long-term viability of our operations, as our business cannot function without a reliable supply of water.
Our commitment is to act as responsible stewards of water resources. This involves carefully planning and managing how water is sourced, used, and treated in our operations. We aim to balance our water needs with those of the communities and ecosystems in our operational areas. Ensuring the availability of clean water for local communities, maintaining the health of ecosystems and catchments, and safeguarding against any deterioration in water quality are all key components of our water management strategy.
We implement rigorous water management plans that address both the quantity and quality of water used. We prioritize the efficient use of water, promote water recycling and reuse where feasible, and employ advanced treatment processes to prevent contamination of both surface and groundwater. We actively collaborate with local communities to not only mitigate any adverse effects our operations may have on local water resources but also to improve access to clean drinking water. Through these efforts, we aim to uphold our responsibility to the environment and enhance the well-being of the communities we serve.
At each of our facilities, we meticulously monitor the water balance, aiming to maximize water use efficiency and recycle as much water as possible. We also implement stringent measures to ensure that our operations do not adversely impact shared water resources.
An essential component of our operational controls involves the continuous monitoring of water quality at both abstraction points and discharge areas. We compare these against baseline conditions in unaffected reference areas, as well as against stringent international and local environmental standards. Routine water testing includes analysis for potential contaminants associated with our activities, alongside assessments of pH levels, suspended solids, and nutrient content, among other critical physical and chemical parameters.
Further enhancing our water management practices, we actively engage with local communities and environmental specialists to develop and refine water conservation strategies. This collaborative approach helps us to identify innovative methods for reducing water consumption, improving water reuse, and ensuring the ecological health of water bodies affected by our operations. By fostering open communication and partnerships, we aim to build trust and ensure that our water management efforts are transparent, effective, and beneficial for all stakeholders.
Energy and Climate Management
As a company, we are deeply committed to understanding and mitigating the impacts of climate change on our industry, and on the communities and stakeholders we serve. Analyzing how climate change affects these areas is crucial for identifying potential threats and seizing opportunities that arise from evolving environmental conditions.
Recognizing our role as a resource extraction entity, Exoben acknowledges a profound responsibility to confront the challenges presented by global warming. Our approach encompasses both immediate and long-term strategies to manage and mitigate the effects of climate change. This includes addressing transitional risks associated with shifting to a low-carbon economy, as well as physical risks caused by climate change, such as extreme weather events and changes in natural habitats.
To tackle these issues, we are implementing sustainable energy practices, investing in renewable energy sources, and enhancing our operational efficiencies to reduce carbon emissions. We are also engaging with global and local stakeholders to collaborate on climate action initiatives, aiming to strengthen our resilience and adaptability to climate-related impacts. By integrating climate considerations into our strategic planning and operational decisions, we strive to lead in sustainability and environmental stewardship, ensuring that our business not only adapts to but thrives in a changing climate.
Climate Risk Strategy
We recognize the critical importance of continuously identifying and mitigating risks associated with climate change. To this end, we conduct an annual climate change risk assessment to enhance our understanding and identification of significant non-financial and stakeholder-related risks and opportunities.
While climate change poses significant concerns for our stakeholders, its direct impact on our business in the short to medium term is less substantial compared to other risks such as health and safety, tailings management, and maintaining positive relationships with communities and governments.
The concept of “transition risk” relates to potential challenges that may arise during the shift towards a lower-carbon economy. This transition may necessitate changes in policy, legislation, technology, and market dynamics to meet the requirements for mitigating and adapting to climate change. Transition risks can vary in terms of financial and reputational impact, influenced by the nature of the changes, the speed of implementation, and their primary focus. Key considerations include climate and energy policies, legal changes within the West African region, costs associated with adopting new technologies, shifts in the supply and demand dynamics for gold and input costs, and potential reputational impacts due to increased stakeholder scrutiny of our role in climate change and its effects on local communities. By actively managing these risks, we aim to align our operations with global sustainability goals while safeguarding our business and stakeholder interests.
Climate change is expected to exacerbate weather-related phenomena across Africa, with river floods, severe precipitation, and pluvial flooding becoming increasingly common, especially in North Africa. Over the last fifty years, West Africa has experienced significant increases in surface temperatures along with heightened dryness and drought conditions. These trends are projected to accelerate throughout the 21st century at a rate surpassing the global average, partly due to the region’s limited natural climatic variability and narrow climate bands that are easily disrupted by minor climatic shifts.
In Africa, temperature increases have been more pronounced than the global average, featuring higher mean temperatures and more severe extremes. Further warming is likely to intensify the frequency and severity of extreme weather events and climatic variability.
Currently, our asset portfolio shows limited vulnerability to these physical climate threats, largely due to the relatively short operational lifespan of our projects, which typically range from 10 to 20 years. Nonetheless, our focus remains steadfast on addressing significant sustainability challenges and opportunities. These include enhancing community engagement, improving health and safety standards, promoting wellness, and fostering economic development. By prioritizing these areas, we aim to build resilience and contribute positively to the regions where we operate, ensuring that our impact extends beyond environmental considerations to social and economic betterment.
Impact Mitigation and Efficiency Goals
The emissions directly associated with our operations represent the most significant environmental impact of Exoben’s activities. Each year, we compile and publish a comprehensive report detailing these emissions, and we are committed to continuously improving our energy efficiency and reducing our carbon footprint.
In our pursuit of environmental stewardship, we evaluate the financial viability of each proposed efficiency program, carefully weighing the associated costs against the potential benefits. This analysis includes exploring innovative solutions to reduce emissions from our operations. We rigorously monitor our use of resources, including water and energy, and track emissions data. These metrics are crucial for identifying potential areas for efficiency improvements and implementing feasible initiatives.
Currently, diesel remains our primary energy source, although hydropower and natural gas also play significant roles in our energy mix. Consequently, our primary focus is on reducing Scope 1 emissions, which come directly from sources that we own or control, such as the combustion of diesel, and Scope 2 emissions, which result from the generation of purchased electricity. We are actively exploring alternatives and strategies to shift towards more sustainable energy sources while enhancing our overall energy efficiency. These efforts are aligned with global environmental goals and are integral to our commitment to responsible environmental management.
West Africa faces considerable obstacles in adopting renewable and lower-emission energy sources, largely due to issues like limited land availability, concerns over infrastructure security, and the long timelines required for investments. Despite these challenges, there is significant potential to expand the use of sustainable energy alternatives in the region. As we plan for future developments, renewable energy will be a key consideration in our power assessments, ensuring that we explore and possibly integrate more sustainable energy solutions into our new projects.
Future Climate Management
As a responsible corporate entity and an active participant in the communities where we operate, we recognize the importance of proactively monitoring and understanding the potential effects of climate change. We are committed to continually exploring and implementing strategies to minimize the environmental impact of both our current operations and any potential future endeavors.
While our existing operations portfolio currently presents a limited likelihood of facing long-term climate-related risks, it is crucial for us to factor in the long-term consequences of climate change into our strategic and operational planning. This is particularly important as we consider the extended lifespan of our operations that may result from expansions, acquisitions, or new development projects.
Moving forward, we will adopt a holistic approach to emissions management that addresses both immediate and long-term challenges. This strategy will encompass the management of short-term emission concerns, the medium-term evaluation of potential carbon constraint mechanisms such as participation in carbon markets, and the monitoring of long-term trends that could influence our future business decisions. By doing so, we aim to enhance our sustainability practices and ensure that our business remains resilient and adaptable in the face of evolving climate realities.