Teck has released our 2017 Economic Contribution Report, detailing the economic benefits of our activities, including payments to governments, wages, and other economic contributions.
We generate significant value in the areas where we operate and work to build trust with our communities by being open and transparent in our business activities.
in payments to suppliers
in economic contribution
in taxes and other payments to governments
paid to employees in wages and benefits
We believe that being transparent in our payments can help communities to understand the economic benefits generated by mining activity and how this is distributed to governments for local, regional, and national economic and social development. As such, we disclose our taxes accrued and paid in our published financial results in accordance with applicable accounting standards and supplement this with additional voluntary disclosure, working to ensure that our disclosure is accessible and reported in a way that is easily understood.
Teck is a member of Extractive Industries Transparency Initiative (EITI), a voluntary global initiative that promotes transparency in payments to government and revenues for extractive industries. We also voluntarily provide information on our tax payments in our principal operating countries on a country-by-country basis in our sustainability report.
In May 2018, Teck reported on our payments to governments under the Canadian Extractive Sector Transparency Measures Act, available on the Public Filings Archive page.
In June 2018, we released our 2017 Economic Contribution Report, our annual report of payments to governments and other economic contributions, to complement and enhance our report under ESTMA.
We contribute to the long-term employability of the people near our operations by providing a range of career opportunities. In 2017, we employed over 10,000 people worldwide in a wide range of activities related to mining and mineral processing, including exploration, development, smelting, refining, health and safety, environmental protection, social performance, product stewardship, recycling and research. This builds the economic resilience of communities and ensures that we leave a positive legacy. Sourcing local goods and services and hiring local people helps build community support for our activities, enhances our local knowledge, increases capacity, and mitigates business and social risks. We focus on hiring and sourcing goods and services locally to support communities and strengthen relationships in the areas where we operate.
Teck is committed to helping build healthy, vibrant communities in the areas where we operate. Through Teck’s community investment program, we contribute to charitable organizations, institutions and initiatives that strengthen communities. Teck targets strategic community investments in sustainable development projects and initiatives with both local and global relevance. Our goal is to address community priorities that align with our business objectives to create shared benefit from our community investments.