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Glencore International plc published its second sustainability report. The report evaluates Glencore's performance in 2011, its progress in contributing to sustainable development and the level of commitment it has shown towards all of its stakeholders.
The report disclosed, Glencore's Global Corporate Practice (GCP) programme, which includes a complete programme of Group-wide sustainability objectives and targets by which the company intends to drive its performance and measure its progress. This new programme sets out Glencore's approach to implementing our GCP framework and defines a clear path to fulfilling the Company's GCP commitments.
In Zambia, work done at Mopani to upgrade the smelter will result in Glencore's SO2 capture programme completing 18 months ahead of the target initially agreed with the Zambian government. On completion, the $2 billion project will capture c. 97% of all SO2. On a smaller scale, Mopani completed the construction of 2,667 sanitation units in a residential area, helping to dramatically improve living conditions. Mopani also commenced a $10.5 million project to repair two key roads crucial for economic growth in the region.
Ivan Glasenberg, Chief Executive Officer of Glencore International plc, said:
“Sustainability is a core focus across the Group and this report demonstrates our commitment to the people working for Glencore, our customers, the environment and to the communities in which we operate. As we expand our footprint, we will work hard to put in place the right structure and programmes so that we continuously improve at all our operations.”
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India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices