TIDMWPM
RNS Number : 9202C
Wheaton Precious Metals Corp.
16 June 2023
June 15, 2023
Vancouver, British Columbia
Wheaton Precious Metals Publishes Inaugural Climate Change
Report
Vancouver, British Columbia - Wheaton Precious Metals(TM) Corp.
("Wheaton" or the "Company") is pleased to announce the publication
of its inaugural 2022 Climate Change Report (the "report"). The
report was prepared in alignment with the recommendations of the
Task Force on Climate-related Financial Disclosures ("TCFD") and
outlines how Wheaton is addressing climate change risks and
opportunities and the resiliency of its portfolio to climate
impacts.
"Mining plays a vital role in facilitating the energy transition
and, as a provider of capital to the industry, we have a unique
opportunity to influence and encourage our partners to operate in a
sustainable manner, including setting targets to reduce their
greenhouse gas emissions," said Randy Smallwood, Wheaton's
President and Chief Executive Officer. "In addition, our
high-quality portfolio of assets is diversified in terms of
jurisdiction and commodity, allowing Wheaton to effectively manage
our exposure to climate-related risks. Through our business model,
we are well positioned to help fund the supply of critical metals
needed for the growing demand for low-carbon technology and
infrastructure."
Report Highlights
Highlights from the 2022 Climate Report include:
-- Details on climate-related governance, strategy, risk
management, and metrics and performance.
-- Expanded information on the pathway to achieve net-zero
carbon emissions by 2050(1) and progress to date on this topic,
with a focus on Scope 3 financed emissions.
-- Identification of climate risks and opportunities and
management strategies, including incorporation of climate risks and
opportunities in the due diligence process and ongoing monitoring
mechanisms.
-- Commitment to support our mining partners' decarbonization and climate solutions efforts.
-- 68% of 2021 Scope 3 financed emissions covered by emissions
reductions targets aligned to 2degC or less.
Wheaton's Climate Report complements our recently published 2022
Sustainability Report and reinforces our commitment to provide
stakeholders with transparent and detailed reporting of our
environmental, social and governance ("ESG") performance and
practices.(2)
About Wheaton Precious Metals Corp.
Wheaton Precious Metals is the world's premier precious metals
streaming company with the highest-quality portfolio of long-life,
low-cost assets. Its business model offers investors leverage to
commodity prices and exploration upside but with a much lower risk
profile than a traditional mining company. Wheaton delivers amongst
the highest cash operating margins in the mining industry, allowing
it to pay a competitive dividend and continue to grow through
accretive acquisitions. As a result, Wheaton has consistently
outperformed gold and silver, as well as other mining investments.
Wheaton is committed to strong ESG practices and giving back to the
communities where Wheaton and its mining partners operate. Wheaton
creates sustainable value through streaming.
For further information, please contact:
Patrick Drouin
Senior Vice President, Sustainability and Investor Relations
Simona Antolak
Senior Director, Communications and Corporate Affairs
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: info@wheatonpm.com
Website: www.wheatonpm.com
Endnotes
(1) Net zero includes emissions reductions in line with a
1.5degC trajectory across Scopes 1, 2 and 3. Achievement of net
zero may include the use of offsets for residual emissions in
2050.
(2) All information in the Climate Report is subject to the
cautionary language contained therein as well as Wheaton's annual
and quarterly financial statements, management's discussion and
analysis, annual information form and annual report.
Cautionary Note Regarding Forward Looking-Statements
This press release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation concerning
the business, operations and financial performance of Wheaton.
Forward-looking statements, which are all statements other than
statements of historical fact, include, but are not limited to,
statements with respect to ESG commitments by Wheaton and at
mineral stream interests currently owned by Wheaton (the "Mining
Operations"), such as governance, strategies, risk management,
metrics, performance, pathway to achieve net-zero carbon emissions,
identification of climate risks and opportunities and management
strategies. Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Wheaton to be materially different from those expressed or implied
by such forward-looking statements including (without limitation)
risks related to climate change, environmental, social and
governance matters, the ability to achieve ESG commitments and
goals at both Wheaton and the Mining Operations and other risks
discussed in the section entitled "Description of the Business -
Risk Factors" in Wheaton's Annual Information Form available on
SEDAR at www.sedar.com and Wheaton's Form 40-F for the year ended
December 31, 2022 filed March 31, 2023 on file with the U.S.
Securities and Exchange Commission on EDGAR and the risks
identified under "Risks and Uncertainties" in Wheaton's
Management's Discussion and Analysis for the year ended December
31, 2022, available on SEDAR and in Wheaton's Form 6-K filed March
9, 2023. Forward-looking statements are based on assumptions
management currently believes to be reasonable, including (without
limitation) that ESG commitments, goals, targets, governance, risk
management, decarbonization and climate solutions efforts, and
strategies at both Wheaton and the Mining Operations will be
achieved, there will be no material adverse change in the market
price of commodities, that estimations of future production from
the Mining Operations and mineral reserves and resources are
accurate, that the mining operations from which Wheaton purchases
precious metals will continue to operate, that each party will
satisfy their obligations in accordance with the precious metals
purchase agreements, and that Wheaton's application of the CRA
Settlement is accurate (including the Company's assessment that
there will be no material change in the Company's facts or change
in law or jurisprudence for years subsequent to 2010) and possible
domestic audits for taxation years subsequent to 2016 and
international audits.
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