Wheaton strongly believes that promoting responsible mining practices and developing clear roadmaps to equitable and sustainable success is more important than ever. As an industry leader with a mandate to provide value to all stakeholders, our ESG strategy focuses on advancing the material sustainability topics that matter most to our stakeholders, our partners and our business. We consult extensively with stakeholders to identify issues that impact Wheaton, as well as the activities we’re involved in that impact – or have the potential to impact – the environment and society. Our sustainability topics include impacts at the mine-site level, as well as impacts under our direct control.

In 2023, we made progress on our targets and goals, and also set new goals in the area of diversity, equity and inclusion and human rights. Several of our long-term goals and vision are aligned with the United Nations Sustainable Development Goals. We act on the goals through our direct operations, Mining Operations and through our Community Investment Program. Table 2 outlines Wheaton's ESG strategy and progress made in 2023.

Wheaton’s ESG Strategy

Goal Progress made in 2023 SDG alignment

Climate Change and Energy
Vision: Take action on climate by contributing to climate solutions within Wheaton's operations as well as with Mining Partners

Reduce S2 emissions by 50% by 2030 from 2018 baseline

Due to unusually high seasonal temperatures in 2023, there was no progress on Scope 2 emissions reductions in 2023, with 2023 performance reverting back to 2018 levels

Climate Action icon

Support mine partners’ decarbonization and climate solutions efforts

Committed financial support towards climate solutions at mine partner sites

Established Climate Solutions Committee

Communicated Wheaton’s support to Mining Partners and actively researched funding opportunities

80% of Scope 3 financed emissions covered by emissions reductions targets aligned to 1.5C by 2040*

87% of Scope 3 emissions are covered by emissions reductions targets aligned to 2˚C or less

Health, Safety and Well-being
Vision: Promote a work environment that prioritizes employee health, safety and wellbeing

Equip employees with health, safety and well-being training, tools and resources

Training provided to employees on life-saving techniques for cardiac arrest

Expansion of health & wellness benefits to include additional mental health support for Vancouver employees

Good Health and Well-being

Diversity, Equity and Inclusion (“DEI”)
Vision: Foster an inclusive and diverse work environment

Increase the percentage of gender diversity and visible minorities at Wheaton, inclusive of leadership, and advance diversity and inclusion initiatives across the company by 2028.*

Increased gender diversity in management by 10% compared to 2022. Management, which includes Executives and Vice Presidents, is now 28% female

Training provided to all employees on LGBTQ+ diversity and inclusion

Gender Equality

Help support initiatives to increase diverse representation in the mining industry

Launched a bursary for under-represented students studying mining-related subjects at UBC and BCIT

Employee Engagement
Vision: Build and retain a highly skilled and engaged workforce

Expand employee engagement and training opportunities

Launched the Wheaton/UBC Sauder Certificate Program for Vancouver-based employees 

Employee survey conducted in February 2023 with an 88% response rate and continued high net promoter score

Community Engagement and Investment
Vision: Give back to the communities in which Wheaton and its Mining Partners live and operate

Deploy 1.5% of average net income from prior four years towards initiatives around Wheaton’s offices and communities influenced by our Mining Partners' operations.

Invested over $6.9M to community initiatives in 2023. This includes $4.6M to programs around our Mining Partner sites, the highest spend on the partner community investment initiatives since we initiated the program in 2014.

No Poverty
Zero hunger
Good health and well-being
Quality Education
Gender Equality
Decent work and economic growth
Climate Action
Life below water
Life on land

ESG and Streaming Decisions
Vision: Support ESG management among Wheaton’s Mining Partners

Increase level of engagement with Mining Partners on ESG issues

Detailed ESG profiles completed for 100% of operations and development projects nearing/in construction

100% of new streams reviewed for ESG risks

82% of Mining Partners engaged on ESG in 2023 (not including community investment)

Increased frequency and coverage of country risk analysis
Responsible Consumption and production

Corporate Governance
Vision: Implement strong corporate governance practices

Further align ESG performance with financial incentives

Increased the weighting of ESG for executive and employee bonuses from 10% to 15% and refined the ESG scorecard used to evaluate performance
Gender Equality

Manage and monitor human rights risks in our direct business and across our mining partners to reduce the risk that human rights are impacted

Target Corporate Performance included 10% ESG weighting

Conducted human rights training for key personnel

Established formal risk-based framework for human rights screening and ongoing due diligence

Notes:

1. Statements made in this section contain forward-looking information and readers are cautioned that actual outcomes may vary. Please see “Cautionary Note Regarding Forward-Looking Statements” for material risks, assumptions and important disclosure associated with this information.

2. On June 20, 2024, the Canadian Government passed amendments to the Competition Act with immediate effect requiring companies to substantiate environmental claims. The Competition Bureau of Canada is currently developing guidance to facilitate compliance with these new provisions. Readers are cautioned that this report/section reflects the legal requirements and disclosure obligations applicable to Wheaton that were in effect for the year ended December 21, 2023, and as a result, the information contained in this website/webpage may or may not be aligned with legal requirements or government guidance adopted after such date. Wheaton is committed to reporting accurate and transparent information and may update this report/section based on additional legal requirements or government guidance at any time.