THIS IS GOLD FIELDS Stakeholder engagement

Stakeholder engagement

Stakeholders are an integral part of Gold Fields business, representing a wide range of interests that both influence and are impacted by our business and operations. Consistent with our values of Integrity, Respect and Responsibility, we develop relationships with our stakeholders built on open, transparent and constructive engagement.

Proactive and frank stakeholder engagement sits at the heart of our efforts to maintain the sustainability of our business and share enduring value with our stakeholders. This engagement aims to build trust and allows for participative and informed decision-making, by striving to balance the interests, needs and expectations of our stakeholders with the best interests of Gold Fields.

At an operational level, all our projects and mines identify, prioritise and directly engage stakeholders that have the potential to affect their operational, sustainability or financial performance.

At a strategic level, our corporate and regional management teams implement an ongoing programme of direct and indirect engagement.

Relevant outcomes from our operational and strategic stakeholder engagement are logged in our Group External Interaction & Commitment Register and communicated through our Enterprise Risk Management process – and so form a vital part of the Group’s risk management programme.

Our engagements are reported in our Integrated Annual Report and Report to Stakeholders which are publicly available.

Our material stakeholders

  • Employees
  • Host communities
  • Financial market participants (shareholders, investors, capital providers and analysts)
  • Governments (national, regional and local) and regulators
  • Industry associations and mining peers
  • Media
  • Non-governmental and community-based organisations
  • Organised labour
  • Third parties (business partners, contractors and suppliers)
  • Traditional authorities

Governance and management

BOARD Responsibilities

The Board is ultimately responsible for oversight of the social, ethics and transformation (SET) strategy, performance, risks and opportunities. In this the Board is assisted predominantly by the Social, Ethics and Transformation (SET) committee. The Safety, Health and Sustainable Development (SHSD) and Risk committees also deal with SET matters.

SET COMMITTEE

Responsibilities

Provides oversight on matters relating to social, ethics, security, labour, transformation, community, corruption, land (social context), human rights and stakeholder relationships to ensure the Company upholds the principles of good corporate citizenship and conducts its business in an ethical and sustainable manner.

Provides guidance to SET strategies and policies, and monitors SET performance within the relevant laws and regulations as well as voluntary standards and guidelines.

SHSD COMMITTEE

Responsibilities

Provides guidance to SHSD strategies and policies, and monitors SHSD performance within the relevant laws and regulations as well as voluntary standards and guidelines

RISK COMMITTEE

Responsibilities

Provides oversight on Group and operational risks, including ESG risks, through developing and identifying risks, vulnerabilities and opportunities facing the Company, and providing risk mitigation strategies.

Gold Fields recognises the importance of governance as a business enabler, providing the framework in which we operate and how we operate as an ethical business. The tables below and on the previous page set out how we incorporate stakeholder relationships into our governance, strategy, business operations, enterprise risk management and reporting processes.

CHIEF EXECUTIVE OFFICER (CEO)
Responsibilities

The CEO is the conduit between the board and management and is responsible for the implementation of board-approved SET strategies and policies.

SET-related incentives

Stakeholder reputation-related deliverables, namely increased engagement with investors, employees, governments and communities, are included in the Group and Regional balanced scorecards. Engagement has increased over the 2018 to 2020 period for all stakeholders.

CHIEF EXECUTIVE OFFICER (CEO)
Responsibilities

Exco supports the Board by developing the SET-related policies for consideration and approval. It carries out the Board’s mandate by ensuring the implementation of the Company’s SET strategies, as well as related risk management plans. Exco also reviews the company’s ESG performance against objectives and key performance indicators

Shared value and diversity and inclusion incentives

All senior and middle management are incentivised with specific ESG targets since 2017, including host community value creation. From 2021 onwards a larger portion of incentives will be allocated to ESG goals, including diversity and inclusion. The same incentives as applied to the CEO are applied to Exco members.

SUSTAINABLE DEVELOPMENT AND HUMAN RESOURCES FUNCTIONS

The Sustainable Development and Human Resources functions contribute multi-disciplinary experts covering overarching SET strategies, sustainable development, shared value, stakeholder engagement, social licence to operate, diversity and inclusion, human rights performance and ESG reporting and assurance. These functions at Group level provide strategic guidance and support to the regions. The functions participate as members of various ICMM working groups, including community support, skills initiative, and security and human rights.

COMMITTEES
STAKEHOLDER, COMMUNITY RELATIONS, PROCUREMENT AND HR MANAGERS
ESG steering committee

The committee comprises EVPs for Sustainable Development, People and Organisational Effectiveness, Legal and Compliance, Investor Relations and Corporate Affairs, Business Development and Strategy and supporting senior managers. It aims to develop the ESG Charter, including objectives and strategic intents.

Stakeholder and Community Relations working group

The working group comprises Group VPs for community relations and corporate affairs and regional and operational multi-disciplinary teams comprising sustainable development, community relations, and corporate affairs. It supports delivery of the community and government relations strategies and plans and provides a platform for the sharing of experience and knowledge within the group.

Stakeholder and Community Relations working group

The working group comprises Group VPs for community relations and corporate affairs and regional and operational multi-disciplinary teams comprising sustainable development, community relations, and corporate affairs. It supports delivery of the community and government relations strategies and plans and provides a platform for the sharing of experience and knowledge within the group.

Stakeholder and Community Relations working group

The working group comprises Group VPs for community relations and corporate affairs and regional and operational multi-disciplinary teams comprising sustainable development, community relations, and corporate affairs. It supports delivery of the community and government relations strategies and plans and provides a platform for the sharing of experience and knowledge within the group.

Stakeholder and Community Relations working group

The working group comprises Group VPs for community relations and corporate affairs and regional and operational multi-disciplinary teams comprising sustainable development, community relations, and corporate affairs. It supports delivery of the community and government relations strategies and plans and provides a platform for the sharing of experience and knowledge within the group.

Our Approach

Our approach to stakeholder engagement and relations is guided and informed by the external standards, guides and codes we have adopted, our internal policies and guidelines and commitments as well as the industrial forums we participate in.

External documents

  • AA1000 Stakeholder Engagement Standard
  • Extractive Industry Transparency Initiative
  • ICMM Mining Principles
  • ICMM Partnerships for Development Position Statement
  • IFC Performance Standards
  • Global Reporting Initiative
  • World Gold Council
  • UN Global Compact
  • Universal Declaration of Human Rights
  • United Nations Guiding Principles on Business and Human Rights

Industrial forums and working groups

  • International Council on Mining & Metals
  • Minerals Council of South Africa
  • Business Leadership South Africa
  • Ghana Chamber of Mines
  • Chamber of Minerals and Energy of Western Australia
  • Gold Industry Group of Western Australia
  • Sociedad Nacional de Minería, Petróleo y Energía (SNMPE), Peru
  • Consejo Minero de Chile
  • Sociedad Nacional de Minería, Chile
  • Gold Fields Stakeholder Relations Working Group

Internal guidelines, policies and documents

  • Group Sustainable Development Policy
  • Group Stakeholder Relations and Engagement Policy
  • Group Community Policy
  • Group Human Rights Policy
  • Community Relations and Stakeholder Engagement Guideline

Engagement activities:

  • Direct engagement, including organised dialogues, roundtable discussions, one-on-one meetings, internal surveys and regular engagement with local communities at each operation and project
  • Indirect engagement, including the use of external benchmarks and standards that are designed to reflect and address societal expectations