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Message from the President and CEO, Don Lindsay

At Teck, we believe a better world is made possible through better mining. From copper for electrification, to steel for infrastructure, to a range of metals and minerals for technology, we are committed to providing the materials essential for the modern world while also working to improve the efficiency and sustainability of our activities.  

That commitment starts at our sites with a focus on health and safety, productivity, environmental performance, and community engagement. Better mining means better returns for shareholders, better ecosystems, better communities, and ultimately a better world today and in the future.  

Since 2010, our Sustainability Strategy with short- and long-term goals has challenged us to continually improve our sustainability performance. As we mark a decade of working to achieve those goals, we recognize that the global context has changed. This change requires us to revisit and update our strategy to ensure we remain at the leading-edge of responsible mining.     

As part of this update, we have set new goals in eight strategic themes: health and safety, climate change, responsible production, our people, water, tailings management, communities and Indigenous Peoples, and biodiversity and reclamation.  

These eight themes represent the most significant risks and opportunities facing our business in the area of sustainability. They also reflect global macro trends such as the transition to a low-carbon economy, growing urbanization and globalization, and increasing innovation and technology.  

For each theme, we have set long-term strategic priorities, supported by short-term goals focused on implementation not only at our operations but also throughout our projects, exploration sites and other areas of our business where we have management control. A full list of new goals is available on pages 7-8, but I want to focus on some highlights.  

Health and safety is the first consideration in everything we do, and we are focused on continual improvement in our safety performance. In 2019, our High-Potential Incident Frequency was 16% lower than in 2018, and Total Recordable Injury Frequency decreased by 24% year-over-year. Despite our progress, we were deeply saddened by a fatality that occurred at our Quebrada Blanca Phase 2 project.  

This is a reminder that we must remain diligent in our focus on health and safety, which is why as part of our sustainability strategy update we will continue to work to eliminate fatalities, serious injuries and occupational disease. As part of this work, we set new short-term goals related to significantly enhancing critical control verification for fatal hazards and implementing new technologies for real-time exposure monitoring to improve exposure controls for dust and welding fumes.  

As part of our commitment to climate action, we set an objective to achieve carbon neutrality across our business by 2050. We have also set three short-term goals to advance us towards neutrality: reducing the carbon intensity of our operations by 33% by 2030; procuring 100% of our electricity demands in Chile from clean energy by 2030; and accelerating the adoption of zero-emissions alternatives for transportation by displacing the equivalent of 1,000 internal combustion engine (ICE) vehicles by 2025.  

These new targets build on our work to date in reducing greenhouse gas emissions, improving energy efficiency and advocating for climate policies. Since 2011, we have implemented projects and initiatives to reduce GHG emissions at our operations by 297,000 tonnes. 

As a major step forward in carbon reduction, earlier this year we secured 118 megawatts (MW) of renewable power supply for our Quebrada Blanca Phase 2 (QB2) project in place of previous fossil fuel power. This will avoid approximately 800,000 tonnes of GHG emissions annually. That is equivalent to the emissions of about 170,000 combustion engine passenger vehicles – equal to permanently parking more than half of all the cars in the City of Vancouver or all the cars in the Tarapacá Region of Chile where QB2 is located. We also purchased the SunMine Solar Energy Facility from the City of Kimberley, a 1.052 MW solar facility built on a reclaimed mine site, to work towards our alternative energy goals. And we launched a pilot using electric buses at steelmaking coal operations in the Elk Valley for employee transportation.  

Water is one of our most material sustainability issues, with a focus both on protecting water quality as well as ensuring the availability of fresh water in water-scarce regions. That is why we’ve set two new strategic priorities in water: transition to seawater or low-quality water sources for all operations in water-scarce regions by 2040 and implementing innovative water management and water treatment solutions to protect water quality downstream of all our operations.  

Responsible production is an emerging trend where companies, consumers and governments seek to demonstrate that materials are being produced in a responsible fashion by working to reduce waste, keeping products in use and ultimately regenerating the natural environment. Our history of responsible resource development provides us with a strong foundation from which to respond to evolving customer and downstream consumer demand for responsibly produced products. In line with these expectations, we have set two new strategic priorities to be a leader in responsibly providing the metals and minerals needed for the transition to a circular economy and to work towards disposing zero industrial waste by 2040.  

Core to all of our work in sustainability are strong relationships with communities and Indigenous Peoples. We are committed to collaborating to generate economic benefits, advance reconciliation and improve community well-being. This includes increasing local employment and procurement opportunities and achieving greater representation of Indigenous Peoples across our business.  

Finally, I’m proud to share our sustainability performance has been recognized by the Dow Jones Sustainability World Index for the tenth straight year, with Teck being the top ranked mining company on the World and North American DJSI for the first time. We were also named to the Global 100 Most Sustainable Corporations and the Best 50 Corporate Citizens in Canada by the Corporate Knights sustainability index. This recognition is encouraging but, at the same time, we recognize there is more work to be done. Setting these ambitious new sustainability targets will help ensure we continue to improve our social and environmental performance, while providing materials essential to a better world.   

 

 

Donald R. Lindsay 

President and Chief Executive Officer 

Vancouver, B.C., Canada 

March 12, 2020 

 

Teck

Teck is a diversified resource company committed to responsible mining and mineral development with business units focused on copper, zinc, steelmaking coal and energy.