OTTAWA, ON, June 27, 2024 /CNW/ - The Royal Canadian Mint has once again ranked among Corporate Knights' Best 50 Corporate Citizens in Canada. For the 2024 edition of this important corporate responsibility award, the Mint has ranked sixth overall, placing first among metal products manufacturers and second in the Metals & Mining category. The Mint continued to be recognized for the management of energy consumption and carbon emissions, waste reduction, sustainable revenue, as well as gender and racial diversity among executive management and Board positions.
"Over the last year, the Mint has made considerable progress toward the implementation of the measures underpinning our environmental, social and governance commitment and action plan," said Marie Lemay, President and CEO of the Royal Canadian Mint. "We are setting goals that help us meet important corporate objectives while making a positive difference in the communities where we operate, and we are both proud and encouraged that our efforts to be among the best corporate citizens in Canada -and in the global minting industry- are being recognized by Corporate Knights."
Our inaugural Impact Report was published this past May, to honestly account for our 2023 environmental, social and governance (ESG) performance by both reporting progress and achievements, as well as acknowledging areas for improvement. The report includes stories and employee testimonials that bring our ESG commitment to life and demonstrate how we embody our goal of being a caring Mint.
We also used the Impact Report to provide an update on our Task-force on Climate Related Financial Disclosures (TCFD) obligations. Included in the TCFD update is a Mint-wide climate-related risk assessment that will help us integrate and monitor climate change risks and opportunities in our enterprise risk management system.
As part of our commitment to making our circulation coinage manufacturing carbon-neutral by 2030, we have developed a decarbonization roadmap that is plotting out and tracking important steps towards meeting our goals, including implementation of geothermal technology to heat and cool our Winnipeg facility.
In our quest to continually improve our ability to responsibly source precious metals, the Mint implemented a transformative distributed ledger technology solution to track the provenance and custody of gold entering our refinery, from mine to mint, which enhances investor trust in the integrity and quality of our gold bullion products.
To help minimize the environmental impact of our operations, we maintain a strong focus on recirculating existing coin inventories and recycling coinage. As a result, 88% of coins placed into circulation through the operation of our national coin management system are re-circulated, requiring only 12% of coin demand to be fulfilled by new coin production.
The Best 50 Corporate Citizens in Canada ranking is based on 24 quantitative key performance indicators relating to resource management, employee management, financial management, clean revenue, clean investment and supplier performance.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada's circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada's prestigious military and civilian honours. As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations.
For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedIn, Facebook and Instagram.
About Corporate Knights
Corporate Knights Inc. includes the sustainable business magazine Corporate Knights and a research division that produces rankings and financial product ratings based on corporate sustainability performance. Corporate Knights was named Magazine of the Year in 2013 and won the SABEW Canada Silver Award for Investigative Reporting in 2019.
SOURCE Royal Canadian Mint (RCM)
For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, (613) 884-6370, [email protected]
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