SUSTAINABILITY 
Engagement with Government and Regulators
Gold Fields deploys a Group-wide and fully integrated Compliance Governance Framework.
On aggregate the Framework focuses on two integrated themes to manage an array of potential, perceived or actual risk exposure areas. The first theme pivots on professional business conduct and ensuring integrity in how we operate. The second theme ensures the Group complies with all identified and applicable obligations imposed by laws, regulations, and adopted rules, codes, and standards the Group subscribe to, being applicable in the jurisdiction where the Group has a presence.
The Integrity theme pivots on engineered solution to support the business culture, from a conduct point of view. The Group Code of Conduct is the pivot of enabling internal and external stakeholders to gauge behaviour and integrity. Refer to the Ethics, Conduct and Integrity Management Approach for more details.
The Compliance theme entails the process to engineer, operationalise and maintain compliance solutions to ensure compliance by our offices and mines.
Gold Fields takes representation, on talking on matters in relation to Gold Fields very seriously. If not well managed, non-adherence to the conditions for engaging with external stakeholders can theoretically expose Gold Fields to an array of risks. The most importance ones being regulatory, reputation, collusion, and association risk. Given Regulators’ focus on managing engagement with government and related entities, other authorities and political parties, non-compliance to obligations in law, as well as obligations imposed by rules, codes, and standards, can have a material negative impact on Gold Fields.
Moreover, stakeholders, and especially Government are an integral part of Gold Fields' business, representing a wide range of interests that influence and are impacted by our business and operations and play a vital role in achieving our purpose of creating enduring value beyond mining.
Gold Fields is committed to operate within the ambit of the law and portray good corporate citizenship in how we conduct business, and more importantly with integrity.
Due to the regulated nature of the extraction industry, Gold Fields frequently engages with Regulators, Governments and related Authorities, as some of the key defined stakeholders. These interactions are either indirect, through the respective Chambers of Mines or direct, with departments in Government in the various operating jurisdictions or during on-site Regulator reviews/ inspections. The focus is inter alia to partake in policy development or material regulatory change, engage on licensing and/or reporting requirements and pro-active partnership development between the Group and Government.
The Group Code of Conduct (“the Code”) binds all Board Members, Exco members, employees and external stakeholders providing products and services. The Code clearly articulates Gold Fields' stance with respect to, among other things, the absolute prohibition of facilitation payments and political contributions. In addition, the Code has stringent requirements re the declaration of any potential, actual or perceived conflict of interest, as well as disclosure for the remediation of any risk, and the permissibility of donations and sponsorships.
Enforcing these requirements extends Gold Fields’ approach to transparent engagements, and diligent disclosure of all elements relating to engagements, which can potentially expose Gold Fields.
Reference has been made to the process whereby solutions are engineered, operationalised, and maintained to support the business culture, from a conduct and strong inclusivity point of view
An interactive Group Compliance Governance Portal enables execution and oversight, which systemically record, analyse, and report on the level of compliance in the Group, across an array of governance and compliance criterion, in line with the adopted risk-based approach.
The External Interaction and Commitment Gateway on the Portal contextualises and guides employees on the requirements for engaging with external stakeholders, and more specifically with Government entities, Regulators, and other authorities. The Code requires that all interactions be recorded via an External interaction and Commitment Register. The construct of the Register enables the in-country legal and compliance teams to assess and analyse information to give effect to the stated approach purpose. Apart from the Code's requirements re interactions, business rules have also been drafted.
Ensuring only mandated employees engage and interact specifically with government entities and/or public officials, as well as other defined external stakeholders. A structured and coordinated engagement approach are scoped when dealing with issues effecting the industry.
The Data Protection and Privacy Gateway on the Portal was extended to enable the assessment of any actual, potential, or perceived privacy risk exposure, as it relates to Group defined projects and initiative, especially in the event of cross-border transfer of data. The Gateway also contextualise and advise, via solutioned guidance, on the protection of stakeholders’ information being process, on lawful grounds as permitted by applicable law.
The cross-jurisdictional Framework, Policy Statement and Guideline Register, referenced in the Compliance Governance Management Approach, includes Policy to govern the engagement with external stakeholders.
An interactive Third-Party Due Diligence Gateway enables the Procurement teams across countries to ensure robust assessment of potential risk exposure. These assessments are reviewed prior to engagements to ensure stakeholder representative are well informed, and interactions are well-managed from a planned outcome perspective.
Meta data analysis is conducted to determine trends, gaps and enhance the interpretation and application value of the guidance offer to the business. Data analytic tools enable management and other internal stakeholders to unpack identified trends and enhance the interpretation and application value.
Enhancement and development of the Framework, and more specifically the Gateway facilitating external engagement management, is a key focus of the Legal & Compliance team. The Framework is therefore continuously reviewed and improved.
An External interaction and Commitment Database creates a systemic view of all interactions across the Group's operating jurisdictions, to pro-active assess interactions from a commitment, and future negotiation point of view.
During 2023 2,054 (2022: 3,154) external engagements were recorded, of which 722 (2022: 1,296) related to interactions with governments and related authorities, including regulators. Most of the 103 declared employees’ interactions were with national governments (38%), followed by interactions with territorial (regional) governments (23%) and host (local) governments (22%).
The three key interaction themes related to regulator reviews/ authorisation, community relations matters and to coordinate, partner and share best practice. Analysis of these themed engagements are frequently assessed to enhance the value of engagements with governments and related entities, via training, preparation sessions, and interaction planning.
From an assurance perspective, structured reviews of the Framework are conducted by Internal Audit. This is to ensure the appropriateness and design/ operating effectiveness.
Reporting forms an integral part of the contextualisation and disclosure focus of the Framework. To this end, a monthly Compliance Update are submitted to all Executive Vice Presidents across the Group. The intent is to keep them and their in-county management committees up to date re the state of compliance. On a quarterly basis, an aggregate Compliance Governance overview is reported to the Group Audit Committee, and other defined Board sub-committees.
