Iamgold to Undertake Comprehensive Action to Combat Climate Change: Commits to Net Negative Greenhouse Gas Emissions BY 2050
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD TO UNDERTAKE COMPREHENSIVE ACTION TO COMBAT CLIMATE
CHANGE: COMMITS TO NET NEGATIVE GREENHOUSE GAS EMISSIONS BY 2050
Toronto, Ontario , September 27, 2021 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) is
pleased to announce its commitment to achieve net negative greenhouse gas (“GHG”) emissions by no later
than 2050.
IAMGOLD’s commitment to net negative GHG emissions comprises two separate global targets . The first
global target relates to reductions in Sc ope 1 (direct) and Scope 2 (indirect – energy) GHG emissions.
IAMGOLD is committing to reduce its emissions profile to as close to zero as possible by no later than 2050.
Initial work will focus on defining specific options to address the Company’s largest sources of emissions:
heavy and light vehicle fleets and power generation and supply. IAMGOLD’s commitments will be updated
in 2025 to incorporate targets for our Scope 3 (indirect – value chain) emissions.
The second global target relates to GHG removals. Reversing the effects of climate change requires not
only that emissions be reduced, but that substantial amounts of existing GHG also be removed from the
atmosphere. As part of this target, IAMGOLD is committing to achieve net positive biodiversity , wherein the
Company will commit to creating more habitat than it disturbs. IAMGOLD plans to achieve this global target
through investments in nature-based solutions that further biodiversity objectives and act as carbon sinks.
Investment opportunities will be pursued at the Company’s operating sites, as well as regionally and globally,
to ensure the maximum possible benefit for every dollar invested.
Gordon Stothart, IAMGOLD’s President and CEO, stated: “In our view, r eversing the effects of climate
change does not mean stabilizing emissions ; it demands that we reduce the total volume of greenhouse
gases going into the atmosphere and the world’s oceans year over year. We know that we are losing habitat
at an unsustainable pace. We believe that the mining industry must do its part to be a driver of habitat
creation.”
Mr. Stothart continued: “Absolute reductions form a critically important part of IAMGOLD’s strategy in actively
combating climate change, with investments in nature-based carbon offset projects supporting greenhouse
gas removals. IAMGOLD is committed to advancing initiatives on reductions and removals in parallel.”
By the end of 2022 IAMGOLD will complete an external verification of its emissions reporting, develop and
announce medium-term targets on reductions and removals, and publish a high level roadmap on how the
Company intends to achieve its global target of net negative emissions by no later than 2050. The roadmap
will also include an estimated date by which the Company expects to achieve net positive biodiversity. Work
will advance through a dedicated steering committee with support from a range of external advisors. As part
of its accountability and reporting framework, IAMGOLD will also be reporting in accordance with the
Climate-Related Financial Disclosures ( “TCFD”) guidelines. IAMGOLD expects to release its initial TCFD
report in late 2022.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward -looking statements. All statements, other than of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or may occur in the future are forward -looking
statements. Forward-looking statements are generally identifiable by, but not limited to, the use of the words “will”, “should”,
“would”, “continue”, “commit”, “target”, “expect”, “plan”, “expected”, “forecast”, “anticipate”, “estimate”, “believe”, “intend”,
“appear”, “schedule”, “potential”, “plans”, “focus”, or “project” or the negative of these words or other variations on these words
or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are
beyond the Company's ability to control or predict, that may caus e the actual results to differ materially from those discussed
in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations
include, among other things, without limitation, general economic and political conditions in the regions in which the Company
operates; applicable laws, regulatory regimes, and government policies; project plans, timing, costs, technical evaluations and
capacities, and the ability to effectively execute on such pla ns and operate its assets accordingly; unanticipated technical or
operational difficulties; project management and schedules and timely completion of projects; unexpected increases in capital
expenditures, operating expenditures and exploration expenditures; changes in development or mining plans due to changes
in logistical, technical or other factors ; changes in world gold markets , and other risks disclosed in IAMGOLD's most recent
Form 40 -F/ Annual Information Form on file with the United States Securiti es and Exchange Commission at
https://www.sec.gov/edgar.shtml and Canadian securities regulatory authorities at www.sedar.com, which are incorporated
herein. Any forward -looking statement speaks only as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to update any forward -looking statement. The
Company disclaims any intention or obligation to update or revise any forward -looking statements whether as a result of new
information, future events or otherwise except as required by applicable law.
About IAMGOLD
IAMGOLD is a mid -tier gold mining company operating in three regions globally: North America, South
America and West Africa. Within these regions the Company is d eveloping high potential mining districts
that encompass operating mines and construction, development, and exploration projects. The Company’s
operating mines include Rosebel (including Saramacca) in Suriname , Essakane in Burkina Faso and
Westwood in Canada. A solid base of strategic assets is complemented by the Côté Gold construction
project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield
exploration projects in various countries located in the Americas and West Africa.
IAMGOLD employs approximately 5,000 people. IAMGOLD is committed to maintaining its culture of
accountable mining through high standards of Environmental, Social and Governance practices, including
its commitment to Zero Harm®, in every as pect of its business. IAMGOLD (www.iamgold.com) is listed on
the New York Stock Exchange (NYSE:IAG) and the Toronto Stock Exchange (TSX:IMG) and is one of the
companies on the JSI index1.
1 Jantzi Social Index (“JSI”). The JSI is a socially screened market capitalization-weighted common stock index modeled on the S&P/TSX 60. It consists
of companies which pass a set of broadly based environmental, social and governance rating criteria.
For further information please contact:
Indi Gopinathan, VP, Investor Relations & Corporate Communications, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
Philip Rabenok, Manager, Investor Relations, IAMGOLD Corporation
Tel: (416) 933-5783 Mobile: (647) 967-9942
Toll-free: 1-888-464-9999 [email protected]
Please note:
This entire news release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through Newsfile’s website
at www.newsfilecorp.com. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.
Si vous désirez obtenir la version française de ce communiqué, veuillez consulter le
https://www.iamgold.com/French/accueil/default.aspx.