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November 28, 2022
TORONTO – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle” or the “Company”) reports that it has released its first Climate Action Report (the “Report”), aligned with the Task Force on Climate-related Financial Disclosures recommendations. The Company is committed to be Net-Zero by 2050 in absolute Scope 1 and Scope 2 carbon emissions and, to this end, it has set an interim carbon reduction target of 30% of 2021 Scope 1 and Scope 2 greenhouse gas emissions by 2030. This inaugural Report outlines the Company’s proposed plan to meet its climate targets and to remain among the lowest greenhouse gas emitters of the industry’s senior gold companies, as well as the strategies of the Company to adapt to and mitigate the impacts of climate change. With the contribution from the sustainability, energy and innovation teams at each mining operation, the Company believes it has established a credible pathway to decarbonization and is committed to continuously assess and adapt technological advances.
The Report supplements the Company’s 2021 Sustainability Report, which discusses aspects of climate change and related business risks and opportunities. Additionally, the Report is aligned with the UN Sustainable Development Goals with respect to climate and the Company’s response to CDP (formerly known as the Climate Disclosure Project).
“Climate change is one of society’s greatest challenges and as a sustainability leader in the global mining industry, we also aim to be a climate action leader. The risks associated with a changing climate have never been clearer and we understand the importance of managing these risks to build a better business, capitalize on future opportunities and communicate effectively with our stakeholders,” said Agnico Eagle’s President and CEO Ammar Al-Joundi. “We hold ourselves accountable to high ESG standards and have strategies in place to adapt to and mitigate the impacts of climate change,” added Mr. Al-Joundi.
Highlights of the Report include:
A changing climate affects us all and the Report outlines the initiatives the Company has undertaken and plans to make, toward a lower-carbon. Together with its stakeholders, Agnico Eagle will work to respond to the challenges and opportunities in the years ahead to find the right solutions for the Company and the environment.
The 2022 Climate Action Report can be accessed here.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States and Colombia. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. The Company was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
For further information regarding Agnico Eagle, contact Investor Relations at [email protected] or call (416) 947-1212.
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