IGO LIMITED We believe in a green energy future
Sustainability Report 2022
About This Report
This is IGO's eighth Sustainability Report and presents our sustainability performance for the period 1 July 2021 to
30 June 2022 (FY22). The report is produced to provide our stakeholders with a transparent account of how we address the most material sustainability issues our Company faced during FY22. It forms part of IGO's annual corporate reporting suite and is best read in conjunction with the IGO 2022 Annual Report,
in addition to other IGO communications available online at www.igo.com.au.
The report has been prepared in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards (Core option) and the GRI Mining and Metals Sector Supplement. Although we report against the GRI Core option, we also report above and beyond what is required to ensure full transparency.
The report addresses those aspects deemed material to IGO and our stakeholders. For details on the approach of this Sustainability Report and a copy of the GRI Content Index, refer to page 106.
The Sustainability Report covers activities currently under exploration and discovery, projects in development, managed operations and joint ventures for IGO and its subsidiary companies. All performance data relates to IGO managed operations only, unless otherwise stated.
Additional information about sustainability performance at the Tianqi Lithium Corporation can be found online at www.tianqilithium.com.au. Information and full data about sustainability performance for Western Areas Limited assets are not included in the FY22 Sustainability Report given the completion of the transaction occurred on 20 June 2022. Limited Western Areas data can be found on page 105.
We engaged an independent external assurance organisation, BDO Audit (WA) Pty Limited, to provide the Directors of IGO with assurance on selected subject matter and criteria, as explained in the independent limited assurance engagement letter on page 126.
We value feedback from our stakeholders. Please forward any comments on this report or requests for additional information to contact@igo.com.au.
Forward-Looking Statements
This report includes forward-looking statements regarding future events, conditions, circumstances, and the future performance of IGO.
Often, but not always, forward-looking statements can be identified by the use of words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'continue' and 'guidance', and may include statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs of production outputs. Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are beyond IGO's control. This may cause actual results and developments to differ materially from those expressed or implied in this Sustainability Report. Relevant factors, including those identified as risk factors, are set out in our
2022 Annual Report.
Forward-looking statements only apply at the date of issue. Except as required by applicable regulations or by law, IGO does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events.
Acknowledgements | |
We acknowledge the Traditional Owners of the land on which | |
we operate and on which we work. We recognise their connection | |
to land, waters, and culture, and pay our respects to their Elders | |
past, present and emerging. | Nova Solar Farm |
Who We Are
IGO Limited is an ASX 100 listed Company focused on creating a better planet for future generations by discovering, developing and delivering products critical to clean energy.
We are a purpose-led organisation with strong, embedded
values and a culture of caring for our people and our stakeholders, and believe we are Making a Difference by safely, sustainably and ethically delivering the products our customers need to advance the global transition to decarbonisation.
Through our upstream mining and downstream processing assets, IGO is enabling future-facing technologies, including the electrification of transport, energy storage and renewable energy generation.
IGO's nickel business includes the Nova and Forrestania Operations and the Cosmos Project, all of which are located in Western Australia. Nova and Forrestania are operating underground mining and processing operations, while Cosmos is a development stage project with first production expected mid 2023.
Our lithium interests are held via our 49% interest in
Tianqi Lithium Energy Australia Pty Ltd (TLEA), an incorporated joint venture with Tianqi Lithium Corporation (Tianqi). TLEA owns upstream and downstream lithium assets, including a 51% stake in the Greenbushes Operation and a 100% interest in a downstream processing refinery at Kwinana in Western Australia to produce battery grade lithium hydroxide.
IGO is also focused on discovering the mines of the future and has an enduring commitment to investing in exploration to ensure the world has a sustainable supply of clean energy metals into the future.
Contents
FY22 Snapshot | 2 |
Chair and CEO Message | 4 |
Celebrating 20 Years | 6 |
Our Purpose and Strategy | 8 |
Key Operations and Projects | 12 |
Our Sustainability Framework | |
Our Approach to Sustainability | 23 |
Our People | 37 |
Safety and Wellbeing | 45 |
Traditional Owners | 51 |
and Communities | |
Our Response to | 59 |
Climate Change | |
Environment | 77 |
Business Integrity | 85 |
Our Financial Contributions | 93 |
Appendix Documents | 98 |
Overview
FY22 Snapshot
In FY22, we continued to drive engagement and performance across the Company through the seven pillars of our sustainability framework.
We have continued to adapt our strategy to incorporate sustainability into our business guided by these sustainability pillars and ensure we meet the expectations of all our key stakeholders. We recognise that these pillars are connected and together they ensure we achieve our overall business strategy and that we safely, sustainably and ethically deliver the products needed for a clean energy future. These pillars form the structure
of our sustainability management, reporting, targets and measurements of progress.
Read more about IGO's sustainability framework on page 23.
Our People
89%
of our people said they are proud to work for IGO, an increase on FY21
29%
27% in FY21
of our overall workforce are female with a significant improvement across all disciplines1
81%
Improved overall employee engagement score2
- Combined overall female workforce (including Western Areas) for FY22 was 24% from 20 June 2022.
- Based on a new measure introduced in FY22.
2 - IGO SUSTAINABILITY REPORT 2022
Safety and | Traditional Owners | Our Response to |
Wellbeing | and Communities | Climate Change |
14.1 | $686k |
7% vs FY21 | Corporate giving |
contributions in FY22 |
2035
Aspiration to be carbon neutral across our direct operations
Increase in IGO's Total Reportable Injury Frequency Rate (TRIFR), up from FY21
FY22 saw a small increase in the number of injuries and a decrease in the severity of injuries recorded
Safety work programs planned for FY23 will deliver a safer workplace for our people
$6.5M
Total payments made
to the Ngadju during FY22
44,042ha
Heritage surveys completed in FY22
and activities by 2035
26%
Increase in solar power generation at the Nova Operation in FY22
$7M-$10M
Internal carbon price to generate commitments of $7M-$10M of internal funding in FY23, to reduce our total carbon footprint and invest in decarbonisation projects across the business ($3.7M in FY22)
Environment
22%
Decrease in groundwater withdrawal at the Nova Operation, demonstrating improved water management and recycling
567t
of materials were recycled at our Nova Operation
112ha
Land rehabilitated in FY22
Business
Integrity
43%
37.5% in FY21
Female representation on the IGO Board
Revised Code of Conduct adopted
New external independent Speak Up reporting platform launched
Our Financial Contributions
$8.0M
29% vs FY21
Total spend on Aboriginal owned or managed businesses in FY22
73%
of our suppliers of goods
and services are located locally or within Western Australia
$287.4M
Payments to suppliers for goods and services in FY22
IGO SUSTAINABILITY REPORT 2022 - 3
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IGO Ltd. published this content on 30 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 01:16:29 UTC.
