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Gold Fields announces 2030 ESG targets

Wednesday, 1 December 2021

Johannesburg, 1 December 2021: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) today published a comprehensive set of 2030 targets for its most material environmental, social and governance (ESG) priorities.

The targets include a commitment to reduce its Scope 1 and 2 carbon emissions by 30% on a net basis and by 50% on an absolute basis by 2030. As a signatory to the Paris Agreement on climate change, Gold Fields is committed to Net Zero carbon by 2050.

The Company is also setting ambitious new goals for its water and environmental stewardship, the management of its tailing facilities and to creating value for its stakeholders, particularly host communities. For its employees, Gold Fields is seeking to further improve safety, health and wellbeing, and to achieve greater inclusion and diversity, by targeting a 30% female workforce by 2030.

"Gold Fields has already made significant progress in many ESG priority areas, and we now have to build on this to meet our commitments to stakeholders and the environment,"" says Gold Fields CEO Chris Griffith.

Gold Fields has therefore embedded ESG as one of the three pillars in its strategy. The three pillars are:

Furthermore, Gold Fields has developed new Purpose and Vision statements that reflect the strengthened commitment to ESG. The new Vision, which replaces the previous commitment to leadership in sustainable gold mining, is:

The Purpose Statement is:

Gold Fields" new ESG Charter is built on the substantive work that the company has carried out since 2016, including:

Our ESG priorities, their respective 2030 targets and last year"s performance against these indicators are as follows:

Priority 2030 Targets 2020 Performance
  • Decarbonisation
  • 50% absolute and 30% net emission reductions from a 2016 baseline (Scope 1+2)
  • Net zero emissions by 2050
  • 10% (absolute); 5% (net)
  • Tailings management
  • Compliance with the Global Industry Standard on Tailings Management (GISTM)
  • Reduce the number of active upstream raised TSFs to 3
  • Commenced implementation
  • 5
  • Water stewardship
  • 80% water recycled/reused
  • 45% reduction in freshwater use from a 2018 baseline
  • 71%
  • 31%
  • Safety, health, wellbeing and the environment
  • Zero fatalities
  • Zero serious injuries
  • Zero serious environmental incidents
  • 1
  • 6
  • 0
  • Gender diversity
  • 30% women representation
  • 21%
  • Stakeholder value creation
  • 30% of total value created benefits host communities
  • 6 flagship projects benefiting host communities
  • 28%
  • 2

Gold Fields will report progress against these targets as part of its annual results reporting each year.

"In finalising these targets we ensured that they were informed by detailed programmes, strategies and budgets. These targets are ambitious, but we realise that without this commitment to creating enduring value beyond mining and positively impacting our local stakeholders we cannot guarantee the long-term sustainability of our assets where we operate,” says Griffith.

The investment in decarbonising Gold Fields will total about US$1.2bn until 2030, of which about a quarter will be financed by the company, with the remainder being funded through PPAs. All projects are expected to be NPV positive.

The capital investment required to ensure even safer tailings storage facilities (TSFs) at our operations and reduce the number of upstream facilities to three is estimated at US$325m. A further US$25m is required to achieve compliance of our TSFs with the GISTM.

Sound corporate governance and a commitment to transparency underpin Gold Fields" work on ESG priorities. For the past ten years Gold Fields has been ranked among the top five mining companies on the Dow Jones Sustainability Index. It reports against the leading global reporting and sustainability frameworks, including the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board and the Taskforce on Climate-related Financial Disclosures (TCFD).

A presentation on the targets is available on the Gold Fields website at www.goldfields.com.

Enquiries

Investors

Avishkar Nagaser
Tel:  +27 11 562-9775
Mobile:  +27 82 312 8692
Email : Avishkar.Nagaser@goldfields.com

Thomas Mengel
Tel:  +27 11 562 9849
Mobile:  +27 72 493 5170
Email:  Thomas.Mengel@goldfields.com

Media

Sven Lunsche
Tel:  +27 11 562-9763
Mobile:  +27 83 260 9279
Email :  Sven.Lunsche@goldfields.com


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