June 25, 2024
Vancouver, British
Columbia
Wheaton Precious Metals Publishes
2023 Climate Change Report
Vancouver, British Columbia -
Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is
pleased to announce the publication of its 2023 Climate Change
Report (the "Report"), prepared in alignment with the
recommendations of the Task Force on Climate-related Financial
Disclosures ("TCFD"). The Report details how Wheaton is addressing
climate change risks and opportunities, as well as potential
climate-related impacts.
"With the release of our 2023
Climate Change Report, we underscore the important role mining
plays in the global effort to decarbonize and reach net zero
goals," said Patrick Drouin, Chief Sustainability Officer and
President of Wheaton Precious Metals International and. "We are
proud to have partnered with mining companies that are
demonstrating leadership on this front with 87% of our Scope 3
financed emissions now covered by reduction goals aligned with 2°C
or less. Furthermore, over 70% of Wheaton's current revenue is
sourced from mines that are producing metals required for the clean
energy transition, and we continue to evaluate new opportunities to
provide capital to responsible mine operators that will deliver
these necessary commodities for a low-carbon future. We recognize
there are still significant challenges for the industry that need
to be overcome, and we are committed to doing our part."
Report Highlights
Highlights from the 2023 Climate
Change Report include:
·
Details on climate-related governance, strategy,
risk management, and metrics and performance.
·
Information on the pathway to achieve net-zero
carbon emissions by 20501 and progress to date, with a
focus on Scope 3 financed emissions.
o 87%
of 2022 Scope 3 financed emissions covered by emissions reductions
targets aligned to 2°C or less, an increase of 19% from the
previous year.
· Commitment to address industry-wide challenges in
decarbonization and climate change through financial support for
research and innovation.
·
Identification and management of climate risks and
opportunities, ensuring their integration into the due diligence
process and ongoing monitoring.
Wheaton's Climate Change Report
complements our recently published 2023 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
ISSB IFRS S2 Update
Given Wheaton's commitment to
transparent disclosure of climate and sustainability related
information, we are currently in the process of identifying
opportunities to integrate guidance issued by the International
Sustainability Standards Board ("ISSB") under the IFRS Foundation
for preparing and reporting financial information related to
sustainability and climate change into public disclosures.
Beginning with IFRS S2, which sets out the standard for disclosing
climate-related matters, the Company has undertaken an updated
detailed climate risk and opportunity assessment. While not yet
required under applicable disclosure requirements, the results of
this assessment and additional information guided by IFRS S2 will
be included in next year's Climate Change Report. By beginning to
integrate key elements of the standards early, Wheaton is
reinforcing its leadership in sustainability amongst the precious
metals streaming industry.
To access the 2023 Climate Change
Report and learn more about Wheaton's sustainability approach and
commitments, please visit the website at: www.wheatonpm.com/Sustainability.
About Wheaton Precious Metals Corp.
Wheaton 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 typically 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:
Investor Contact
Emma Murray
Vice President, Investor
Relations
Tel: 1-844-288-9878
Email: info@wheatonpm.com
Media Contact
Simona Antolak
Vice President, Communications &
Corporate Affairs
Tel: 604-639-9870
Email: simona.antolak@wheatonpm.com
Endnotes
1 Net zero includes emissions reductions in line with a 1.5°C
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 climate
change and ESG commitments by Wheaton and at mineral stream
interests currently owned by Wheaton (the "Mining Operations").
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.sedarplus.ca and Wheaton's Form 40-F for the year ended
December 31, 2023 filed March 28, 2024 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, 2023, available on SEDAR+
and in Wheaton's Form 6-K filed March 19, 2024. Forward-looking
statements are based on assumptions management currently believes
to be reasonable, including (without limitation) that climate
change and ESG commitments and goals at both Wheaton and the Mining
Operations will be achieved, that 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 royalty agreements, and
that Wheaton's application of the CRA Settlement (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 assessment of the impact of the
implementation of a 15% global minimum tax, are accurate and that
expectations regarding the resolution of legal and tax matters will
be achieved (including CRA audits involving the
Company).