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GOLD FIELDS LIMITED - Gold Fields Announces 2030 ESG Targets

Release Date: 01/12/2021 15:00
Code(s): GFI     PDF:  
Wrap Text
Gold Fields Announces 2030 ESG Targets

Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
ISIN Code:     ZAE000018123
(“Gold Fields” or the “Company”)

M E D I A   R E L E A S E


Johannesburg, 1 December 2021: Gold Fields Limited (Gold
Fields) (JSE, NYSE: GFI) today published a comprehensive
set of 2030 targets for its most material environmental,
social and governance (ESG) priorities.

The targets include a commitment to reduce its Scope 1
and 2 carbon emissions by 30% on a net basis and by 50%
on an absolute basis by 2030. As a signatory to the Paris
Agreement on climate change, Gold Fields is committed to
Net Zero carbon by 2050.

The Company is also setting ambitious new goals for its
water and environmental stewardship, the management of
its tailing facilities and to creating value for its
stakeholders, particularly host communities. For its
employees, Gold Fields is seeking to further improve
safety, health and wellbeing, and to achieve greater
inclusion and diversity, by targeting a 30% female
workforce by 2030.

“Gold Fields has already made significant progress in
many ESG priority areas, and we now have to build on this
to meet our commitments to stakeholders and the
environment,’’ says Gold Fields CEO Chris Griffith.

Gold Fields has therefore embedded ESG as one of the three
pillars in its strategy. The three pillars are:
    • Maximise potential from current assets through
       people and innovation
    • Build on our leading commitment to ESG
    • Grow the value and quality of our portfolio of

Furthermore, Gold Fields has developed new Purpose and
Vision    statements   that  reflect the   strengthened
commitment to ESG. The new Vision, which replaces the
previous commitment to leadership in sustainable gold
mining, is:
   • To be the preferred gold mining company delivering
       sustainable, superior value.

The Purpose Statement is:
   • Creating enduring value beyond mining.
Gold Fields’ new ESG Charter is built on the substantive work that the company has
carried out since 2016, including:
   - Investing US$400m in energy projects, largely funded through power purchasing
      agreements (PPAs), already ensuring that two of our Australian mines are
      partially powered by renewable energies.
   - Commencing the construction of a R715m solar power plant at South Deep that
      will provide the mine with about a quarter of its power requirements and save
      it over R120m a year in electricity costs. The capacity of the plant has been
      increased from 40MW to 50MW.
   - Raising the percentage of women in the workforce from 15% in 2016 to 21% at
   - Ensuring that a significant amount of the value Gold Fields creates remains
      with its communities through a focus on host community employment and
   - Limiting our impact on the environment by curtailing serious environmental
      incidents, recycling over 70% of the water our operations use in their processes
      and limiting freshwater usage by our mines.

Our ESG priorities, their respective 2030 targets and last year’s performance against
these indicators are as follows:

Priority                2030 Targets                               2020 Performance

1. Decarbonisation      •   50% absolute and 30% net emission      •   10%
                            reductions from a 2016 baseline            (absolute); 5%
                            (Scope 1+2)                                (net)
                        •   Net zero emissions by 2050
2. Tailings             •   Compliance with the Global Industry    •   Commenced
   management               Standard on Tailings Management            implementation
                            (GISTM)                                •   5
                        •   Reduce the number of active upstream
                            raised TSFs to 3
3. Water stewardship    •   80% water recycled/reused              •   71%
                        •   45% reduction in freshwater use from   •   31%
                            a 2018 baseline
4. Safety, health,      •   Zero fatalities                        •   1
   wellbeing and the    •   Zero serious injuries                  •   6
                        •   Zero serious environmental incidents   •   0
5. Gender diversity     •   30% women representation               •   21%
6. Stakeholder value    •   30% of total value created benefits    •   28%
   creation                 host communities
                        •   6 flagship projects benefiting host    •   2

Gold Fields will report progress against these targets as part of its annual results
reporting each year.

“In finalising these targets we ensured that they were informed by detailed
programmes, strategies and budgets. These targets are ambitious, but we realise that
without this commitment to creating enduring value beyond mining and positively
impacting our local stakeholders we cannot guarantee the long-term sustainability of
our assets where we operate,” says Griffith.

The investment in decarbonising Gold Fields will total about US$1.2bn until 2030, of
which about a quarter will be financed by the company, with the remainder being funded
through PPAs. All projects are expected to be NPV positive.
The capital investment required to ensure even safer tailings storage facilities
(TSFs) at our operations and reduce the number of upstream facilities to three is
estimated at US$325m. A further US$25m is required to achieve compliance of our TSFs
with the GISTM.

Sound corporate governance and a commitment to transparency underpin Gold Fields’
work on ESG priorities. For the past ten years Gold Fields has been ranked among the
top five mining companies on the Dow Jones Sustainability Index. It reports against
the leading global reporting and sustainability frameworks, including the Global
Reporting Initiative (GRI), the Sustainability Accounting Standards Board and the
Taskforce on Climate-related Financial Disclosures (TCFD).

A presentation on the targets is available on the Gold Fields website at



Avishkar Nagaser
Tel: +27 11 562-9775
Mobile: +27 82 312 8692
Email :

Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170


Sven Lunsche
Tel: +27 11 562-9763
Mobile: +27 83 260 9279
Email :


Notes to editors

About Gold Fields

Gold Fields Limited is a globally diversified gold producer with nine operating mines
and one project in Australia, Chile, Ghana (including our Asanko Joint Venture), Peru
and South Africa, with total attributable annual gold-equivalent production of
2.24Moz. It has attributable gold-equivalent Mineral Reserves of 52.1Moz and gold
Mineral Resources of 116.0Moz. Gold Fields has a primary listing on the Johannesburg
Stock Exchange (JSE) Limited, and an additional listing on the New York Stock Exchange

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

Date: 01-12-2021 03:00:00
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