Wheaton Precious Metals Publishes Third Annual Sustainability Report Highlighting Continued ESG Leadership
May 24, 2022 TSX | NYSE | LSE: WPM
Vancouver, British Columbia
WHEATON PRECIOUS METALS PUBLISHES THIRD ANNUAL SUSTAINABILITY
REPORT HIGHLIGHTING CONTINUED ESG LEADERSHIP
Vancouver, British Columbia – Wheaton Precious Metals™ Corp. (“Wheaton” or the
“Company”) is pleased to announce the publication of its 202 1 Sustainability Report, a
comprehensive review of Wheaton’s environmental, social and governance (“ESG”)
performance metrics. An electronic version of the report is available here.
“At Wheaton, we have a strong belief in being an agent of change which means leading with
our values and working to commit to the highest standards in all facets of ESG,” said Randy
Smallwood, Wheaton’s President and Chief Executive Officer. “The 2021 Sustainability
Report highlights Wheaton’s enhanced commitments to ensuring our people, our
partnerships and our communities thrive as our business continues to evolve and grow. While
we are proud of the progress and efforts we have made in the past year, we recognize that
there is always more to be done.”
“Our latest report details Wheaton’s formal ESG strategy developed this past year that
includes several new initia tives, particularly a commitment to achieve net zero carbon
emissions by 2050, alongside other long -standing, established goals,” said Patrick Drouin,
Wheaton’s Senior Vice President, Sustainability and Investor Relations. “Our commitment to
promoting responsible mining practices starts with us, which is why beginning with our 2021
Sustainability Report, we are increasing our disclosures and reporting around our Scope 3
financed emissions. 2021 was an inflection point for many including for us at Wheaton, a nd
we hope that our deliberate approach to ESG continues to serve as a catalyst throughout our
industry.”
Highlights outlined in the report include the following:
• Establishment of a formal ESG strategy with targets and commitments across
several material ESG topics
• Set formal commitment to achieve net zero carbon emissions by 20501. This
includes the establishment of targets across both Scope 2 and Scope 3 attributable
emissions to support a 1.5° C trajectory.
• Conducted climate scenario analysis of both a business-as-usual and net zero
scenario to identify physical and transitional climate risks and opportunities.
• Inaugural reporting of our Scope 3 financed emissions associated with our mining
partners, including disclosing the detailed methodology developed to calculate
these emissions.
• Made an initial $4M commitment to support our mining partners’ efforts to move to
renewable energy sources and reduce emissions at the mines in which we have an
interest (becoming the first metals streaming company to do so).
• Distributed over $ 6.2 million in 2021 in support of over 100 charit able causes and
initiatives around the world.
- 2 -
• Surpassed the $3 2 million mark in contributions to local charities and mining
communities since inception of the Community Investment Program in 2009.
• As announced at our recent Annual General Meeting, Wheaton now has 30% female
Board members, achieving our 2024 target two years early.
Wheaton is rated #1 for Precious Metals (out of 123 companies) and ESG Global 50 Top
Rated Company by Sustainalytics. Wheaton is also “AA” rated by MSCI ESG Ratings, rated
“Prime” by ISS ESG and included in the Euronext Vigeo World 120 Indices.
Information and data in Wheaton’s 2021 Sustainability Report was informed by the
Sustainability Accounting Standards Board (SASB) , Global Reporting Initiative (GRI) and
Task Force on Climate-Related Financial Disclosures (TCFD).
For further information, please contact:
Patrick Drouin
Senior Vice President, Sustainability and Investor Relations
Andrea De Paoli
Manager, Sustainability
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: [email protected]
Website: www.wheatonpm.com
1 Net zero includes emissions reductions in line with a 1.5 trajectory across Scopes 1, 2 and 3. Achievement of
net zero may include the use of offsets for residual emissions in 2050.
CAUTIONARY NOTE REGARDING FORWARD-LOOKINGSTATEMENTS
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, oper ations and
financial performance of Wheaton and, in some instances, the business, mining operations and
performance of Wheaton’s precious metals purchase agreement (“PMPA”) counterparties.
Forward-looking statements, which are all statements other than statements of historical fact,
include, but are not limited to Wheaton’s climate change and environmental commitments, the
future price of commodities, the estimation of future production from mineral stream interests
owned by Wheaton (the “Mining Operations”) (including in the estimation of production, mill
throughput, grades, recoveries and exploration potential), the estimation of mineral reserves and
mineral resources (including the estimation of reserve conversion rates) and the realization of
such estimations and the commencement, timing and achievement of construction, expansion or
improvement projects by Wheaton’s PMPA counterparties at Mining Operations. Generally, these
forward-looking statements can be identified by the use of forward -looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "projects", "intends", "anticipates" or "does no t anticipate", or "believes", "potential",
or variations of such words and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward -looking
statements are subject t o known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of Wheaton to be
- 3 -
materially different from those expressed or implied by such forward-looking statements, including
but not limited to risks associated with the ability to achieve climate change and environmental
commitments at Wheaton and at the Mining Operations, fluctuations in the price of commodities
(including Wheaton’s ability to sell its precious metals or coba lt production at acceptable prices
or at all), the Mining Operations (including fluctuations in the price of the primary or other
commodities mined at such operations, regulatory, political and other risks of the jurisdictions in
which the Mining Operation s are located, actual results of mining, risks associated with the
exploration, development, operating, expansion and improvement of the Mining Operations,
environmental and economic risks of the Mining Operations, and changes in project parameters
as plans continue to be refined), 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 in Wheaton's Form 40-F for the year ended December 31, 2021 and Form
6-K filed March 5, 2022 both available on EDGAR at www.sec.gov, as well as the risks set out in
Wheaton’s management’s discussions and analysis for the period ended De cember 31, 202 1
available on SEDAR and EDGAR (together, the “Disclosure”). Forward -looking statements are
based on assumptions management currently believes to be reasonable, including (without
limitation): that Wheaton will be able to achieve climate change and environmental commitments,
there will be no material adverse change in the market price of commodities, that the Mining
Operations will continue to operate and the mining projects will be completed in accordance with
public statements and achieve t heir stated production estimates, that the mineral reserve and
mineral resource estimates from Mining Operations (including reserve conversion rates) are
accurate, and such other assumptions and factors as set out in the Disclosure. There can be no
assurance that forward-looking statements will prove to be accurate and even if events or results
described in the forward -looking statements are realized or substantially realized, there can be
no assurance that they will have the expected consequences to, or effects on, Wheaton. Readers
should not place undue reliance on forward -looking statements and are cautioned that actual
outcomes may vary. The forward -looking statements included herein are for the purpose of
providing readers with information to assist them in understanding Wheaton's expected financial
and operational performance and may not be appropriate for other purposes. Any forward-looking
statement speaks only as of the date on which it is made, reflects Wheaton’s management’s
current beliefs based on current information and will not be updated except in accordance with
applicable securities laws. Although Wheaton has attempted to identify important factors that
could cause actual results, level of activity, performance or achievements to differ materially from
those contained in forward -looking statements, there may be other factors that cause results,
level of activity, performance or achievements not to be as anticipated, estimated or intended.