Creating
enduring
value beyond
mining
GOLD FIELDS
CLIMATE CHANGE REPORT 2021
Aligned with the recommendations of the Task Force
on Climate-related Financial Disclosure (TCFD)
COVER PHOTO
The solar plant at our Granny Smith mine, Western Australia.
Contents
INTRODUCTION AND LEADERSHIP
About this report
Climate change targets and highlights
Climate change leadership and advocacy
Chief Executive Officer's statement
SHSD Chairperson’s statement
Governance and management
Gold Fields’ climate-related policy statements
and commitments
OUR NET-ZERO COMMITMENTS
Our decarbonisation journey
Climate change and decarbonisation strategy
Renewable energy
Climate change risks and opportunities
Unpacking transitionary risks
PERFORMANCE AND PROGRESS
Energy and carbon management
Water stewardship
Tailings management
CLIMATE CHANGE RISK AND VULNERABILITY
Chile
Peru
Australia
South Africa
Ghana
STATISTICS AND ASSURANCE
Regional and Group energy and carbon performance
Gold Fields’ carbon footprint
TCFD Index
External assurance statement
Glossary, administration and corporate information
The non-financial statistics in this report are
contained in the sustainability performance
data spreadsheets on our website at:
www.goldfields.com/sustainability-data.php
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About this report
This is our fourth Climate Change report produced in
alignment with the recommendations of the Financial
Stability Board’s Task Force guidelines on Climate-related
Financial Disclosures (TCFD). This report forms part of
the 2021 Gold Fields suite of reports and specifically the
2021 Integrated Annual Report.
Gold Fields formally started on its climate change, energy and water journey in 2016, but have reported on our climate change
performance since 2010 when we first made an annual submission to the CDP. Since 2018 we have used the TCFD to report on
our climate change and related performances, strategies, risk and opportunities.
The TCFD provides companies with a best practice international framework against which to voluntarily report their climate-related
information. The scope of our climate-related performance and data covers our eight managed mines (including 100% of Gruyere,
but excludes our Asanko Gold JV, since it is a non-managed asset). We provide information about the progress made at our
Salares Norte project, but do not include data from the project.
FOR MORE INFORMATION:
Please consult the following reports
INTEGRATED ANNUAL REPORT
Our primary report to stakeholders,
detailing the Group’s value creation
story over short, medium and long
term.
REPORT TO STAKEHOLDERS
A high-level outline of our
contributions to our key stakeholders,
as well as recent developments
impacting these relationships.
GRI CONTENT INDEX
The IAR is compiled to comply with the
GRI Standards: Core option. The GRI
Content Index also cross-references to
the ICMM Principles, UNGC Principles,
UN SDGs and the Sustainability
Accounting Standards Board (SASB),
since amalgamated under the Value
Reporting Foundation.
Our online IAR portal, which can be accessed at
www.goldfields.com/integrated-annual-reports.php
GOLD FIELDS GROUP
2.34Moz
attributable gold-eq
production
(2.46Moz managed
gold-eq production)
13.9PJ
energy
consumption
5.66GJ/oz
energy
intensity
4.3%
renewable
electricity
(excluding
hydro)
1.71Mt CO2e
GHG (Scope 1 – 2)
emissions
306kt CO2e
GHG emissions
avoided
0.70t CO2e/oz
emission intensity
9.44GL
freshwater
withdrawn
75%
water recycled/
reused
AMERICAS REGION
AUSTRALIA REGION
SOUTH AFRICA REGION
WEST AFRICA REGION
Mines: Cerro Corona
Project: Salares Norte
248koz managed gold production
1.23PJ energy consumption
4.94GJ/oz energy intensity
100% renewable electricity
79kt CO2e GHG (scope 1 – 2) emissions
1.21kt CO2e emissions abated
0.32t CO2e/oz emissions intensity
3.7GL freshwater withdrawal
84% water recycled/reused
Mines: St Ives, Granny Smith,
Agnew and Gruyere (JV)
1.14Moz managed gold production
5.21PJ energy consumption
4.56GJ/oz energy intensity
10% renewable electricity
531kt CO2e GHG (scope 1 – 2) emissions
90.3kt CO2e emissions abated
0.46t CO2e/oz emissions intensity
0.7GL freshwater withdrawal
37% water recycled/reused
Mines: South Deep
293koz managed gold production
1.78PJ energy consumption
6.09GJ/oz energy intensity
0% renewable electricity
502kt CO2e GHG (scope 1 – 2) emissions
42.6kt CO2e emissions abated
1.71t CO2e/oz emissions intensity
1.6GL freshwater withdrawal
80% water recycled/reused
Mines: Tarkwa and Damang
776koz managed gold production
5.69PJ energy consumption
7.32GJ/oz energy intensity
0% renewable electricity
603kt CO2e GHG (scope 1 – 2) emissions
172kt CO2e emissions abated
0.78t CO2e/oz emissions intensity
3.4GL freshwater withdrawal
88% water recycled/reused
Gold Fields Climate Change Report 2021
CCR
2
Climate change targets and highlights
Gold Fields’ purpose is to create enduring value beyond mining and we are guided by our three strategic pillars to achieve this purpose. Our climate change strategy is guided by Pillar 2, namely, to build on our leading
commitments to ESG. During 2021, Gold Fields launched 2030 targets for its six ESG priority areas; three of these priorities are directly impacted by climate change, with the remaining indirectly affected. The diagram
below sets out the ESG priorities directly affected by climate change, their respective targets and 2021 highlights.
ESG priorities
2030 targets
Description
2021 targets
2021 highlights
Introduction and Leadership
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Why we exist
Creating enduring
value beyond
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50%
30%
80%
45%
STEWARDSHIP
2 WATER
33 TAILINGS
MANAGEMENT
50% absolute scope 1 and 2
emissions reductions by
2030 against 2016 baseline
• 18% – Achieve 287kt CO2e emissions
reduction from projects in 2021
business plans
30% net scope 1 and 2
emissions reductions by
2030 against 2016 baseline
Net zero emissions by 2050
• 5% – 657TJ reduction through
energy savings initiatives from
2021 business plan
•
Initiate the South Deep solar plant for
completion in 2022
• Achieved all three 2021 targets
• Energy provider Kallpa certifies 100% hydroelectricity as clean energy
for Cerro Corona
• 7.1% TJ reduction through energy savings initiatives (1,208TJ)
• 22% carbon emissions reduction from energy savings initiatives
• 5.66GJ/oz energy intensity (2020: 5.64GJ/oz)
• 0.70t CO2e/oz GHG emission intensity (2020: 0.69t CO2e/oz)
• Cerro Corona, Tarkwa and Damang ISO 50001 certified. South Deep and
Australian sites successfully implemented their energy management systems
with audits for ISO 50001 certification planned for 2022
80% water recycled/reused
• 68% – recycle/reuse 68% of water
45% reduction in freshwater
use from 2018 baseline
use for Group
• 3% – Reduce 477ML in freshwater
intake from projected 2021 fresh
Group water demand as per business
plan from 13.3GL to 12.9GL
GISTM
conformance
Conformance with Global
Industry Standard on Tailings
Management (GISTM) by
2023 and 2025
3
Reduce number of active
upstream raised TSFs from
five to three
• Three new renewable energy projects:
– Gruyere 12MW microgrid by Q2 2022
– South Deep 50MW solar plant by H2 2022
– Salares Norte solar plant by Q1 2023
• 75% water recycled/reused on track to meet 2030 target
• 35% reduction in freshwater intake against 2018 baseline
• GISTM assessment on track
• Made required appointments to key technical positions
• Allocated US$325m towards achieving 2030 targets
Climate change leadership and advocacy
The mining and metals industry play a significant part in the transition to a low-carbon future and in providing the required minerals and metals for the low-carbon and zero-carbon energy transition. Therefore, we see
industry associations as powerful platforms for collective and impactful action to identify and manage climate-related risks and impacts. We take our responsibility towards addressing climate change seriously and as such
have taken leadership roles in some of these associations and are active participants in ESG and climate-related initiatives and projects. Here is a snapshot of some of these initiatives.
ZERO
EMISSION
ENERGY
FULLY
ELECTRIC
FLEET
PEOPLE
AND
COMMUNITY
Electric Mine Consortium
Working collaboratively towards a
zero-emission and zero-particulate
mine, through:
1. Resolving key technology choices
2. Shaping the supplier ecosystem
3. Influencing policy
4. Communicating the business case.
Gold Fields/Energy Vault proposed energy
storage trial
The trial is intended to be run as a pilot project at the existing
high penetration wind and solar power plant at our Agnew
mine. The Energy Vault EVxTM energy storage solution is a
gravity battery, using blocks made from the onsite tailings'
facility. The efficiency of the battery is near to that of
lithium batteries (~80%), with no degradation and a 30-year
design life, which makes it an ideal low-cost and efficient
mine storage solution. It is expected that a pilot of this
scale would increase Agnew’s renewable energy fraction
by approximately two percentage points from current
average daily level of 57%.
We participate in the Austmine Charge On
innovation challenge, to provide scalable
and interoperable electrification of 220
tonne haul trucks, without impacting
the haul cycle time.
Gold Fields, as an active member of the ICMM,
participates in many of its working groups, including
biodiversity, mine closure, tailings, water and climate
change. We also actively participate in the Cleaner
Safer Vehicles CEO-led initiative to achieve
the following:
• GHG emissions-free surface mining vehicles
by 2040
• Minimise the operational impact of diesel exhaust
by 2025
• Make vehicle collision avoidance technology
available by 2025.
Gold Fields Climate Change Report 2021
CCR
3
Chief executive officer’s statement
“We have a long way to go, but I am confident that, based on our
track record and the commitment of our people, we will be able
to meet the climate change challenge.” Chris Griffith
In December 2021, Gold Fields
announced a new strategy comprising
three strategic pillars to guide the
Company for the next decade. Strategic
Pillar 2 commits the Company to build on
its leading commitment to environmental,
social and governance (ESG) issues.
Nowhere is this ‘’leading commitment’’
more evident than in Gold Fields’
investment in decarbonising its
operations. We are a leading mining
company in addressing our impact
on the changing climate through the
use of renewable and low-carbon
energy sources.
However, we still have a long way to go.
We are acutely aware of the severity of
climate-related risks, as well as societal
expectations that companies should
play their part in reducing emissions.
Equally, the impacts of climate change
on our operations and surrounding
communities are real and immediate.
Climate change is affecting
our operations through the physical
impacts that more severe storms, longer
droughts and rising temperatures have
on our mines, employees and host
communities. Furthermore, governments
are also increasing efforts to regulate
carbon emissions in most of the
jurisdictions in which we operate, often
by imposing taxes on non-renewable
energy consumption.
As such, our stakeholders expect us
not only to take concrete actions to limit
our emissions and also ask us to report
comprehensively on the impact of climate
change on our operations with a
particular focus on our energy, water and
tailings management. In all these areas
climate change has a material impact on
how we run our operations. This, our
fourth Climate Change Report seeks
to provide a comprehensive overview
of the risks and opportunities we are
facing, how we seek to mitigate them,
our performance to date and the targets
we have committed to meet.
The November 2021 COP26 held in
Glasgow, Scotland, and the most recent
Intergovernmental Panel on Climate
Change (IPCC) reports have highlighted
a clear message from the scientific
community: The world is not on track to
meet the targets of limiting temperature
rises to 1.5°C – 2°C by 2050, the minimum
needed to prevent serious climate
impacts. All stakeholders – governments,
the corporate sector and civil society –
need to take drastic action.
One of the few encouraging
developments to emerge from
COP26 was the mobilisation of more
than 5,200 businesses and about
450 financial institutions committed
to science-based net-zero targets
and increased public-private
collaborations to deal with
climate change.
Gold Fields is committed to playing our
role. We announced a comprehensive
set of 2030 targets for our most material
ESG priorities in December 2021,
headlined by our commitment to
decarbonisation in three key targets:
• Reducing our scope 1 and 2 carbon
emissions by 30% by 2030 from
a 2016 baseline
• Taking cognisance of the fact that
we plan to raise our production profile
over the same period, this amount
to actually targeting 50% emissions
reductions by 2030
• Net-zero carbon emissions by 2050
in line with the Paris Agreement
Introduction and Leadership
SHSD Committee
chairperson’s statement
These targets are currently being
embedded in our operations and we
are planning on spending hundreds
of millions of dollars to achieve them.
Our management teams are being held
accountable to ensure that we are
implementing the right electricity solutions,
continuing our energy savings initiatives
and trialling new ore transportation
technologies to enable us to achieve
those targets.
We are also working collaboratively
with our peers in the ICMM and in other
industry associations and initiatives to
find common solutions to challenges such
as zero emissions vehicles. Finally, we
have committed to reporting annually
on how we are performing in meeting
our 2030 targets, so shareholders and
other stakeholders have visibility of
our progress.
Rolling out renewable energy, fuel
switching and energy efficiency projects
has already contributed to emissions
savings of 18% between 2016 and 2021
at Group level. The contribution of
renewables to the Group electricity
mix increased from 0% to 4.3% over
the same period. This is largely due to
the two completed renewable micro-grids
at Granny Smith and Agnew in Western
Australia, with the latter receiving, on
average, 57% of its electricity requirements
from green energy sources, one of
the highest at a gold mine anywhere
in the world
South Deep and Gruyere are set to launch
their solar plants this year and Salares
Norte in early 2024, while all our other
mines are examining ways of minimising
their dependence on fossil fuels to power
the operations. The mines are also
working out how to reduce their emissions
further still.
Beyond renewable energy, we are also
looking at reducing emissions from our
fleet of diesel-powered vehicles and
machines to achieve our targets by trialling
and eventually rolling out zero-emission
vehicles. Scope 3 emissions are also now
in focus and we will set targets for these
emissions in 2023.
We have a long way to go, but I am
confident that, based on our track record
and the commitment of our people, we
will be able to meet the challenges that
we will inevitably confront as we transition
steadily to net zero.
As a Board we have a critical
role to play in ensuring that the
Company we govern plays its role
in addressing the defining challenges
societies are facing. At present, the
two ESG priorities that have headlined
these challenges are gender diversity
and climate change.
It is the responsibility of the Safety,
Health and Sustainable Development
(SHSD) Committee of the Board to
ensure that Gold Fields plays its role
in addressing the climate change
threat. As it is, physical climate
changes are already being felt
across the globe and impacting
our communities and our operations.
I assumed the role of Chair of the
SHSD Committee in 2016, when
Gold Fields commenced its climate
change journey in earnest. The Board
first approved a Climate Change
Policy Statement for the Company
in 2017, updating it in 2020, which
committed the Company to identify
and assess climate-related risks and
opportunities; report and disclose
its performance; raise the share of
renewable energy; and implement
energy and water efficiency initiatives.
Since then, I have witnessed this
policy statement translated into
action, with Gold Fields introducing
operational changes that have
seen the Company recognised as a
decarbonisation leader in the mining
sector. It has done so primarily via its
significant investment in renewable
electricity and energy savings
initiatives, which have had the added
benefit of ensuring supply security
and more affordable energy for
our mines.
Last year, Gold Fields took another
step on its climate change journey
by making a number of commitments
to reducing its net Scope 1 and 2
carbon emissions: by 30% against
its 2016 baseline by 2030 and to net
zero by 2050. Once again, the Board
was integrally involved by providing
input into the targets and, ultimately,
approving them.
Terence Goodlace
In making its operational changes
and its decarbonisation commitments,
Gold Fields has not only the welfare
of its operations in mind, but also
that of our host communities.
In the past year we updated our
climate change risk and vulnerability
assessments across all our mines,
where the focus was on assessing
the impact on our operations and
communities. The Board will ensure
that, in applying the learnings from
these assessments, we take account
of the needs of our employees,
host communities and, of course,
our business.
Gold Fields has to date chosen the
right path in mitigating its impact
on the changing climate. I have
every confidence that its people
will continue doing so even as the
threat of climate change becomes
ever more pressing.
Gold Fields Climate Change Report 2021
CCR
4
Governance and management
Ethical leadership and integrated governance structures and processes are crucial in our strategy in tackling climate change. Our Board of Directors, the Safety, Health and
Sustainable Development (SHSD) Sub-Committee, as well as Gold Fields’ Executive Committee have committed to dealing with the impacts of climate change and drive the transition to
a low-carbon future. We have continued to refine our governance structures with the establishment of an Executive Steering Committee dedicated to guide and monitor the development
and implementation of the climate change and decarbonisation strategy. The Committee follows a holistic approach and comprises executives from the relevant functions and departments.
It is supported by advisory and technical groups, external consultants and regional leads.
RESPONSIBILITIES
KEY OUTCOMES
Introduction and Leadership
Board
The Board is accountable and ultimately responsible for the oversight over climate-related strategy, implementation,
resilience, risks and opportunities
• Approval of South Deep solar plant capacity extension from 40MW to 50MW
• Climate change training received
• Approval of 2030 decarbonisation targets and net zero by 2050
SHSD – Primary Board sub-committee overseeing climate-related strategy and implementation, SHSD strategies,
Board
Committees
policies and performance
– Stakeholder relations, socio-economic development, human rights, ethics, security
– Enterprise risk management, including ESG risks
SET
Risk
Capital – Climate-related capital projects
• ESG Charter and targets, especially decarbonisation
• Continued implementation of renewable projects, specifically South Deep project
• ESG benchmarking
Chief
Executive
Officer
(CEO)
Executive
Climate Change
Steering
Committee
The CEO is responsible to lead his executive and management teams to draft and implement the Company’s
Board-approved climate change strategy, including relevant policies and projects
The CEO sets the tone and a climate-conscious culture
Climate-related remuneration:
Balanced score card comprises 20% incentives related to ESG, of which approximately one-third is linked to climate
change and decarbonisation performance
• 2030 ESG targets launch and implementation
• Climate change sector leadership
• International Council on Mining and Metals (ICMM) – participation in Cleaner, Safer Vehicles initiative
• Rejoined the World Gold Council (WGC)
Composition and responsibilities:
Executives responsible for investor engagement and reporting; finance;
decarbonisation, climate support, scope 3 emission planning and offsets and climate risk and adaptation
Integrated and systemic approach to addressing multifaceted impacts of climate
change on company, supply chain and stakeholders
• Decarbonisation priority as part of ESG 2030 targets
• Approximately 6% of balanced score card allocated to decarbonisation
• Comprehensive decarbonisation strategy with targets and implementation plan
Sustainable
development
department
Provides a multi-disciplinary specialist function, comprising sustainable development,
ESG reporting and assurance, climate change, carbon and energy, water, stakeholder engagement, environmental
management, tailings management
• Incorporation of ESG into business strategy
• Decarbonisation strategy
• Second climate change risk and vulnerability assessments for all regions
Working
Committees
– develop ESG strategy for Board approval
ESG
Water – continuous development and implementation of the water stewardship strategy
Energy – continuous development and implementation of the energy and carbon strategy, including decarbonisation
strategy
• Board approved ESG Charter, with 2030 targets
• Regional water management plans, including targets
• Regional 2030 energy and carbon plans, including targets
Gold Fields Climate Change Report 2021
CCR
5
Gold Fields’ climate-related policy statements and commitments
Through our membership of associations such as the International Council on Mining & Metals (ICMM), we have embedded international good practice to address climate-related risks and opportunities throughout its business and
operations. The tables below set out our commitments through ICMM, as contained in its most recent Position Statements on Climate Change, Water Stewardship and Tailings Governance, the relevant Gold Fields’ Policy statements and
commitments, as well as what we are doing to meet these commitments. Assurance of Gold Fields’ self-assessments of our implementation of the ICMM Performance Expectations* has been conducted by an independent third party,
a summary of which is available in the 2021 Integrated Annual Report.
* The ICMM Performance Expectations are a comprehensive set of requirements setting out the expectations of how ICMM members manage a comprehensive array of ESG issues at corporate and operational levels.
Introduction and Leadership
ICMM COMMITMENTS
GOLD FIELDS POLICY STATEMENTS AND COMMITMENTS
KEY IMPLEMENTATION ACTIONS
Scope 1 and 2 emission targets:
Net zero by 2050
• Set objectives and targets for carbon emissions reductions, energy savings,
energy diversification and water management
• Board approved 2030 targets:
– 50% absolute emissions reductions and
– 30% net emissions reductions from 2016 base year
– Net zero by 2050
• Decarbonisation strategy, including projects and capital commitments
CLIMATE CHANGE
Applicable SDGs:
7
13
AFFORDABLE AND
CLEAN ENERGY
CLIMATE
ACTION
• Committed to address scope 3 emissions as part of decarbonisation strategy
• A target for scope 3 emission reduction is to be developed by 2023
• Legal and other compliance
• The targets cover scope 1, 2, and 3 carbon emissions
• Set objectives and targets for carbon emissions reductions, energy savings, energy diversification
and water management
• Targets include 50% absolute emissions and 30% net emission reductions by 2030 from the 2016 base year
• Paris Agreement-aligned targets towards a 1.5 °C future
• Decarbonisation strategy towards a 1.5 °C future
Scope 3 emissions:
Targets, leadership, partnership
Targets cover all material
sources of emissions
Absolute reductions
Robust target-setting methodologies
Disclose assumptions
Integrate climate change in
decision-making
• Continual improvement of climate change preparedness, performance and public disclosure
Adaptation and mitigation
• Regional climate change strategies, including mitigation and adaptation plan
• Decarbonisation is one of the six priorities in our ESG Charter
• ESG is one of our three Strategic Pillars
• Decarbonisation integrated into the strategy, business planning processes and capital programmes
• Second round of regional climate change risk and vulnerability assessments conducted
• Decarbonisation strategy includes mitigation plans to reach targets
Supporting community resilience
• Seeking collaboration with host communities towards climate change policies
• Ghana, South Africa and Peru involved in community water provision and educational projects
Transparent disclosure
Scope 1 – 3
External verification
TCFD-alignment
Engagement
• Public reporting of GHG emissions footprint and climate-related risks and opportunities
• Mature scope 1 – 3 emissions reporting
• External independent assurance
• TCFD-aligned climate change report
• Collaboration with host communities, governments, peers, investors, NGOs, and business partners
• Active member of the ICMM, rejoined the WGC
• Engagement with peers and original equipment manufacturers, e.g. Australian Electric Mine Consortium
Innovation and technology
• Support research, innovation and technology development
• Renewable, low-carbon energy solutions; energy efficiency initiatives, including carbon offsets
• Participate in technology working group of the ICMM's Innovation for CSV programme
• Decarbonisation strategy underpinned by innovation and technology
Carbon pricing
• Transparent carbon pricing mechanisms, including CO2e shadow price in all new and life
extension projects
• Granny Smith gas power plant earns annual carbon credits from the Australian Emissions Reduction Fund, with carbon credits
auctioned for the fifth year, used as shadow price in Australia region
Gold Fields Climate Change Report 2021
CCR
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Gold Fields’ climate-related policy statements and commitments continued
Introduction and Leadership
ICMM COMMITMENTS
GOLD FIELDS POLICY STATEMENTS AND COMMITMENTS
KEY IMPLEMENTATION ACTIONS
WATER STEWARDSHIP
Applicable SDGs:
6
12
CLEAN WATER
AND SANITATION
RESPONSIBLE
CONSUMPTION
Corporate water governance
• Approach
• Responsibilities and accountabilities
• Integrate water into business planning
• Public reporting
Effective water management
• Water balance
• Targets and objectives
• Water quantity and quality management
• Access to clean drinking water and
sanitation facilities for all employees
Collaboration for sustainable water use
• Catchment-level risks and opportunities
• Engage stakeholders on external water
governance
• Water stewardship initiatives
• Legal, regulatory, and voluntary compliance
• Corporate water governance:
– Responsibilities and accountabilities
– Integrate water into business planning
– Public reporting
• Effective water management:
– Social and environmental risk management
– Efficient water utilisation solutions
– Employee awareness and training
– Context-relevant water performance targets
• Security of operational water supply for all catchment users including the natural environment
• Access to clean drinking water, gender-appropriate sanitation facilities and workplace hygiene
• Collaboration:
– Proactive engagement with stakeholders, including host communities
– Support water stewardship initiatives
• Regular updating of risks, including climate-related for operations
• 2020 – 2025 Group water stewardship strategy, as well as regional water strategies and three-year management plans
• Strategy comprises three pillars:
– Security of supply
– Water efficiency
– Catchment management
• ISO 14000 certification of all mines
• Freshwater withdrawal reduction and increased recycling/reuse targets
• Water planning embedded into core operational management
• Water risk aligned with resourcing over life-of-mine, including water balances
• All employees have access to clean drinking water, gender-appropriate sanitation facilities and hygiene at the workplace
• Context-specific catchment stakeholder engagement
• South Deep is collaborating with a neighbouring mine to restore the Leeuspruit river
TAILINGS MANAGEMENT
Applicable SDGs:
9
6
6
INDUSTRY,
CLEAN WATER
CLEAN WATER
INNOVATION AND
AND SANITATION
AND SANITATION
AND SANITATION
INFRASTRUCTURE
12
RESPONSIBLE
CONSUMPTION
Implement practices of the six elements
of the Tailings Governance Framework:
• Zero harm to people and the environment
• Zero tolerance for human fatalities
1. Accountability, responsibility
and competency
2. Planning and resourcing
• Uphold Gold Fields vision and values
• Accountabilities and responsibilities defined
• Key appointments made
• Legal and other compliance
• Adequate resources, including human and financial
• Collaborate in innovative approaches throughout the life cycle of TSFs, through research
and industry initiatives
3. Risk management
• TSFs are adequately and legally maintained, closed and rehabilitated in a safe and stable state
• Critical control management
4. Change management
• Meaningful stakeholder engagement on all key aspects throughout the TSF life cycle
5. Emergency preparedness
and response
• Emergency preparedness and response planning, including community engagement
• Adequate resources available for recovery efforts
6. Review and assurance
• Open and transparent tailings management practices, including public disclosure
Climate change risks (and opportunities) are addressed thoroughly across the ICMM Position Statement and the Global
Industry Standard on Tailings Management, as well as Gold Fields’ internal standards and procedures. They include scoping
and design, risk management, water management, stormwater management, rehabilitation, closure and post-closure
management. In addition, reporting may be found in our Integrated Annual Report, and in a dedicated section of our website:
https://www.goldfields.com/environment-tsf.php.
Gold Fields Climate Change Report 2021
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Our decarbonisation journey
WHERE HAVE WE COME FROM? ➧
Our net-zero commitments
WHERE ARE WE GOING? ➧
2011
2015
2016
2020
2021
FOUNDATION
IMPLEMENTATION
ESG 2030
TARGET
DEVELOPMENT
2022
OPERATIONAL
INTEGRATION
2030
1 Ensure investor ESG confidence
and reputation protection
2
Vision:
“To be the global leader in sustainable
gold mining”
• ICMM membership
• Regulatory and voluntary sustainability
framework requirements adherence
• First Integrated Annual Report published
• CDP reporting (carbon) of emissions
and performance
• Developed a Group integrated energy
and carbon management strategy
• Implemented energy efficiency initiatives
• Reactive water management
T
X
E
T
N
O
C
G
S
E
C
I
F
I
C
E
P
S
E
G
N
A
H
C
E
T
A
M
I
L
C
4
Protect licence to operate and
strengthen ESG reputation
ESG risk identification and mitigation:
- Social licence to operate
- Energy security
- Water security
- Safety and health
• ICMM Mining Principles compliance
• CDP reporting (climate and water)
• TCFD-aligned Climate Change Report
• Group climate change policy approved
and updated
• Group water stewardship policy approved
• Group TSF policy approved
• Regional climate risk and vulnerability
assessments
• Group and regional water stewardship
strategies being developed
3
ESG 2030
targets
2021
Board concept approval for ESG targets,
including decarbonisaiton.
Work carried out during the year:
• Regional plans to achieve 30% net
emission reductions by 2030
• Conceptual decarbonisation strategy
• Board decarbonisation training
• 2016 baseline validation and
target verification
• Capital allocation
1 December 2021
2030 science-based targets launched
for six ESG priorities, headlined by
decarbonisation
2022
Commence operational implementation
of 2030 ESG target strategies
2023
Programme deployment via project
management platform and change
management
Create enduring value
beyond mining
New vision:
“To be the preferred gold mining company
delivering sustainable superior value”
• Shift from compliance to sustainable value
delivery to all stakeholders
• ESG Charter, underpinned by six
interconnected key priorities,
with strategic intents and targets
• Decarbonisation strategy in line with a
1.5 °C future with 2030 targets, including
net zero by 2050, projects and capital
budgets and including science-based targets
validation by SBTi
• Creation of Executive Climate Change
Steering Committee guiding development and
implementation of decarbonisation strategy
• Develop targets for scope 3 emission
reduction by 2023
• Updated regional risk and vulnerability
assessments
• Embedding water stewardship into
operational mine plans
• Working towards full conformance of the
GISTM by 2023 and 2025 respectively
Gold Fields Climate Change Report 2021
CCR
8
Climate change and decarbonisation strategy
CORE INITIATIVES TO ACHIEVE NET 30% REDUCTION BY 2030
A 30% by 2030 reduction is only possible with multiple stretch initiatives, some of them using technologies that are still being developed,
to offset the anticipated growth to 2.8Moz in production and associated emissions
Stretch opportunities to fill gap
• South Deep, 100% green electricity:
• Gruyere, 78% green electricity:
• Source clean power for Damang:
• Source clean power for Tarkwa through grid:
306kt
88kt
112kt
42kt
Total
548kt
Our net-zero commitments
Gold Fields’ GHG emissions profile, 2030 – impact of “core” initiatives
kt CO2e
-35%
2,395
31
759
264
120
702
1,693
13
482
1,198
1,605
55
9
28
28
23
23
49
48
33
73
78
1,564
31
629
379
Renewables, Electricity replacement
550kt
Electric Fleet, Diesel
replacement 130kt
Efficiency,
151kt
904
831kt
-51%
31
629
525
2016
Actual
Growth
(2.8m oz
p.a.)
2030
Forecast
South
Deep
(45%)
St Ives
(95%)
Salares
Norte
(79%)
Cerro
Corona
(35%)
Agnew
(73%)
Gruyere
(73%)
Granny
Smith
(35%)
South
Deep
Storage
Australia
West
Africa
Americas
West
Africa –
CCGTs at
Tarkwa
All sites
– other
efficiency
2030
Potential
Gap*
Target
■ Others ■ Diesel ■ Electricity
(% renewables of total electricity supply)
(17% diesel replacement)
CONCEPTUAL PATHWAY TO NET ZERO 2030 – 2050
TARGET 100% CLEAN ELECTRICITY (~2/3rd of current scope 1 + 2 emissions)
CONCEPTUAL PATHWAY TO NET ZERO: 2022 – 2050
Our December 2021 announcement of an ambitious 2030 carbon emissions reduction target
and reaffirming our commitment to net zero emissions by 2050, heralded the next stage in our
decarbonisation journey. We use 2016 as a base year, as this is when Phase 1 of this journey
commenced and we started developing a wide-ranging climate change and energy strategy,
programmes and targets.
We are measuring our performance against our target of a 30% reduction of scope 1 and 2
emissions by 2030, which amounts to an effective target of approximately 50% when projected
30% gold production growth to 2.8Moz is taken into account. To date – between 2016-2021 – our
emissions increased 1% against the 2016 baseline, despite mining 9% more tonnes and producing
11% more gold. Our 2021 emissions were 18% lower than they would have been in the absence
of energy savings initiatives and the renewable microgrids installed at Agnew and Granny Smith
in Western Australia.
The top adjacent table outlines how we plan to achieve our 2030 targets. In terms of our net
30% reduction target we will have to reduce our emissions to just under 1.2Mt CO2e from the
1.7Mt CO2e in 2016. At the same time we plan to increase gold production to around 2.8Moz
a year during the second half of the decade – this would push up emissions to an estimated
2.4Mt CO2e by 2030 if we did not undertake the aggressive programme we have outlined.
How do we get there? Firstly, we had a look at our emissions profile – approximately two-thirds
of our emissions are linked to our electricity usage, with South Deep by far the highest emitter
in the company. The remaining third of our emissions is linked to diesel emissions by our fleet
of mining vehicles.
If we increase emissions in line with our production forecast, we foresee that the electricity/diesel
split remains the same. For the next few years, therefore, our focus will be on replacing our gas and
coal-fired electricity with renewables, as highlighted in the turquoise section of the graph. This shows
how much of each mine’s electricity is intended to be derived from renewables by 2030.
Our diesel reduction efforts will initially be focused on introducing zero emission vehicles at our
mines. We are currently carrying out internal trials, as well as working with peers in ICMM and the
Electric Mine Consortium to develop cleaner, safer vehicles. But we are at an early stage and
a meaningful impact is still a few years away.
A third emissions reduction component will be from continuing to improve energy efficiencies
at our operations, with a switch from open to closed cycle gas turbines at Tarkwa mine providing
a significant kicker.
As the graph shows, our current planned projects will not be enough, and we have identified several
stretch opportunities to fill the gaps – such as those displayed in the beige box in the graphic.
• Target 100% green plus export opportunities
• Green hydrogen or long duration
• Leverage disruptive technologies, but not
required to achieve 100%
The nine key initiatives outlined in the graph will be the focus of our decarbonisation work from now
until 2030.
Target >70% green
Wind, solar, batteries
New storage technologies
Target ~20% diesel elimination
Electric material movement
Biodiesel; hydrogen fuel cells
Energy efficiency initiatives
1
2
3
4
5
6
7
8
9
TARGET 100% ELECTRIFICATION OF DIESEL EQUIPMENT (~1/3rd of current scope 1 + 2 emissions)
•
• Electric underground mine
• For open pit – rail, green hydrogen, large EVs
• Heavily automated, driverless, new mine designs
• Target 100% diesel elimination
• Leverage disruptive technologies
Explore/invest in offset options and natural climate solutions
• Carbon offsets to mitigate liabilities
• Verified and assured carbon offsets
2023: Methodology and targets for scope 3 emission
reduction to be developed
• Site-specific natural climate solutions, verifiable and assured
• Site-specific natural climate solutions
• Eliminate scope 3 emissions
CARBON OFFSETS AND NATURAL CLIMATE SOLUTIONS
2021
2030
2035
2040
2045
2050
Gold Fields Climate Change Report 2021
CCR
9
Looking beyond 2030 to the net zero target by 2050, the picture is less clear, but we know
the high-level initiatives needed to take us there and these are depicted in the bottom graphic.
By 2050, all the electricity used by our mines will be clean electricity, with 70% of that target to
be achieved by 2030.
For diesel consumption, our high-level target is to eliminate 20% in the first 10 years and then
accelerate this programme until 100% elimination is achieved by 2050. Carbon offset programmes
are a last resort if we fall short.
We will also have to tackle scope 3 emissions, those from our supplier and upstream base,
as our targets are currently limited to scope 1 and 2 emissions. Over the next two years we
will be working with our peers in the ICMM and with our suppliers to look at ways of reducing
these emissions and will announce our first scope 3 targets before the end of 2023, in line with
ICMM timelines.
Gold Fields has been measuring and reporting its scope 3 emissions since 2008 and is aligned
with the rest of the gold industry: research by the World Gold Council has found that upstream
scope 3 emissions account for approximately 20% of the industry’s total emissions. During 2024,
Gold Fields' scope 3 emissions accounted for 23% of our total emissions. On the plus side we also
know that compared to other metals and minerals gold has a relatively low carbon footprint, though
that does not absolve us from our responsibility towards minimising our impact as best as we can.
Our net-zero commitments
Renewable energy
The decarbonisation strategy
includes a significant lever:
green energy. In all, 75% of
the 2030 target will be reached
through renewable energy use
and storage. Gold Fields’ emission
reduction drive started in 2016
with over US$420m investments in
renewable energy projects by 2021
(GFL US$100m; Independent Power
Producers (IPPs) via power
purchasing agreements (PPAs)
US$320m).
This has resulted in 18% absolute
net group emission reductions
to date. Renewables now
account for 4.3% of the Group's
electricity mix (excluding hydro)
in 2021 (2016: <1%) rising by 14%
by 2025. If hydroelectricity
from Cerro Corona is included,
renewables currently account
for 12.5% of our electricity mix,
improving to approximately 22%
by 2025.
AUSTRALIA – Agnew
Completed 2021
AUSTRALIA – Granny Smith
Completed 2020
AUSTRALIA – Gruyere
Expected commissioning Q2 2022
• IPP: EDL
• 18MW wind, 4MW solar, 13MW/4MWh
battery storage, 18MW gas, 3MW diesel
• 50% – 60% renewable energy fraction,
up to 85% during ideal conditions
• 42% net mine emissions reduction
• Total cost: US$80m (IPP: US$58m;
ARENA: US$10m)
• First large-scale Australian microgrid to
incorporate wind turbines
• Planned 73% renewable energy by 2030
• IPP: Aggreko
• 8MW solar, 2MW/1MWh battery storage,
35MW gas, 5MW diesel
• 9% renewable energy fraction (electricity)
• 7% net mine emissions reduction
• Total cost: US$28m (IPP: US$26m)
• Planned 35% renewable energy by 2030,
comprising 28MW wind, 18MW/9MWh
battery storage
• IPP: APA
• 12MW solar, 4.4 MW/4.4MWh battery
storage, 53MW gas, 3MW diesel
• 10% renewable energy fraction (electricity)
• 7% net mine emissions reduction
• Total cost: US$20m (IPP: US$20m
(renewables only))
• Plan to achieve 25% renewable energy
by 2030, increasing by 20MW solar
AUSTRALIA – St Ives
• Existing power purchase agreement
in place until end 2023, with electricity
supply of 100% natural gas
• Feasibility study for a standalone power
solution underway
• Planned 75% – 85% renewable energy
by 2025, which will comprise wind, solar,
diesel back-up and battery storage
GHANA – Tarkwa
• IPP: Genser Energy
• Installed turbines and infrastructure
• Generator upgrade in 2025
• Gas transition from diesel to LPG (2016)
to natural gas (2020)
• Gas transport via pipeline
GHANA – Damang
• IPP: Genser Energy
• Installed turbines and infrastructure
• Generator upgrade in 2026
• Gas transition from diesel to LPG (2016)
to natural gas (2020)
• Gas transport via pipeline
SOUTH AFRICA – South Deep
Expected commissioning H2 2022
CHILE – Salares Norte project
Expected commissioning Q1 2024
• IPP: Aggreko
• 27MW diesel, solar microgrid of which
solar to provide 10MW
• Total cost: US$19m (IPP: US$13m)
• Planned 79% renewables comprising
20MW solar, 10MW wind and storage
by 2030
• 50MW solar plant (previously 40MW)
• To provide 24% of mine’s electricity
• R123m/year saving
• 109kt net emissions reduction per year
• Total cost: R715m (US$45m) (previously
R660m)
• Ambition is to achieve 45% renewable
energy with storage capacity
• 50MW solar will save ~ 167 000kl of water
consumed by Eskom
• Successfully relocated protected
plant species during construction
Gold Fields Climate Change Report 2021
CCR
10
PERU – Cerro Corona
• Energy provider Kallpa's 100%
hydroelectricity is certified as clean
energy by the International REC
Standard. As such, 100% of the mine's
electricity is classified as renewable
• Planned additional renewable energy
sources by 2030
• 6MW bought from the grid
Climate change risks and opportunities
CLIMATE CHANGE-RELATED RISKS
The World Economic Forum’s 2022 Global Risk Report identifies climate action failure, extreme weather and biodiversity loss as one of the top three most severe risks on a global scale over the next 10 years. Human environmental damage and natural resource crises
are seventh and eighth respectively. The WEF Report warns of a systemic risk of exacerbated global inequalities as a result of a disorderly climate transition. No sector, business, person or region will be able to avoid the impacts of climate change.
Gold Fields has incorporated climate-related risks and opportunities into our enterprise risk management and strategy processes at Group and regional levels. Each region conducted its second five-yearly climate change risk and vulnerability assessments during 2021,
with the Salares Norte project conducting its first assessment. Focused climate change risk and vulnerability assessments have been initiated for the Group’s tailings storage facilities (TSFs) and water infrastructure as well. National and international climate-related regulatory
and legislative requirements are reviewed continually to ensure that associated risks are managed and potential opportunities leveraged.
Our net-zero commitments
GOLD FIELDS’ 2021 CLIMATE-RELATED TOP STRATEGIC GROUP RISKS
Rating
Group risks
Context
Mitigating actions
Opportunities
8
(2020: 9)
Failure to
implement
climate change
adaptation
measures
Stakeholders are increasing expectations
of climate change leadership through,
inter alia, robust climate change adaptation.
We are already experiencing extreme
weather events. Climate-related policy,
legislation and regulations are becoming
more stringent to reflect the increased
country ambitions pledged at COP26
and thereafter.
Gold Fields is actively implementing measures to
increase our resilience to climate change impacts.
These include regional climate change risk and
vulnerability assessments, with adaptation and
mitigation plans monitored quarterly, as well as
collaboration initiatives with peers and industry
associations.
Natural climate solutions
can assist us in reaching
net zero, contribute to
biodiversity and enhance
social and regulatory
licences to operate.
12
(2020: 13)
Water
security
15
(new)
ESG:
Stakeholder
expectations
Water security for both Gold Fields and
other water catchment users is affected by
water pollution, freshwater use and water
recycling/reuse. The majority of our regions
are water scarce, while Ghana must deal
with excess water, especially during floods
and storms.
The Gold Fields 2020 – 2025 water stewardship
strategy, aligned to ICMM good practice, is
implemented through three-year regional water
management plans. ISO 14001 certification at all
operations ensures sound water stewardship
governance.
The incorporation of ESG into business
strategy and practice is rapidly gaining
traction amid increased investor
expectations. Hollow “feel-good”
ESG corporate statements and
unsubstantiated targets are being called
out as greenwashing and could impact
reputation. Purposeful ESG integration
requires capital and expertise skill sets.
The ESG Charter, with six priorities and clear and
measurable targets, based on international best
practice, is being implemented. The first part of
the decarbonisation strategy to achieve 30% net
emission reductions by 2030, dealing with scope 1
and 2 emissions, has been developed, with scope
3 emissions targets and actions to follow by 2023.
The ambitious decarbonisation strategy includes
renewable energy, energy efficiency and diesel
replacement initiatives. The 2025 water stewardship
strategy implementation is progressing ahead
of targets.
Improve water security
for communities and the
environment and improve
community relations in water-
stressed regions. Achieve
cost savings and reduce
reliance on utility companies.
Vastly reduced carbon
footprint, more compelling
investment case and
improved reputation. Showing
leadership in renewable
energy and technology
adoption can prompt greater
collaboration with other
industry players and peers.
GOLD FIELDS’ 2021 CLIMATE-RELATED TOP CATASTROPHIC GROUP RISKS
Rating
Risks
Context
Mitigations
1
2
Tailings dam
failure
Catastrophic TSF failure could cause loss
of life and environmental and property
damage. There could be many triggers for
failure, of which climate change, including
extreme weather events, is one.
Robust and stringent TSF management governance, including processes,
procedures and controls, based on ICMM guidance and GISTM. We are further
strengthening governance by ensuring conformance of all TSFs with “extreme”
or “very high” consequence classifications with the GISTM by August 2023 and
all other TSFs by August 2025.
Flooding
(major incident
causing loss of
life and property
damage)
The recent IPCC reports indicated with
a high level of certainty that the volatility
and extremity of weather events will
increase and that global warming is
affecting a change in the global water
system. Extreme flooding could result in
damage to and collapse of infrastructure,
including power supply, compromising
pumping ability.
Climate risk and vulnerability assessments conducted for all regions, with adaptation
plans being implemented. Various policies, processes and procedures based
on ICMM and other guidance such as the ICMM’s Critical Control Management
Programme. Robust enterprise risk management, including emergency evacuation
and flooding procedures and emergency response plans.
Gold Fields Climate Change Report 2021
CCR
11
One of the five wind turbines at our Agnew mine in Western Australia
Unpacking transitionary risks
The outcomes of the recent COP26 held in Glasgow, Scotland, in November 2021 look set to increase legislative and policy transitionary risks for companies. These include the completion of
the Paris Rulebook, which inter alia deals with stricter emissions disclosures and the exponential development in transparent disclosure and reporting. This has been given further impetus with
the establishment of the IFRS International Sustainability Standards Board and the consolidation of various accounting and sustainability frameworks. More than 5,200 businesses, including
Gold Fields, and about 450 financial institutions have to date committed to science-based net zero targets and there has been a marked increase in public-private collaborations to deal with
climate change impacts.
During 2022, a focus at Group level will be on aligning our disclosure with new rules by the US Securities Exchange Commission (SEC) entitled: The enhancement and standardisation of
climate-related disclosures for investors. These are set to be unveiled in mid-2022. Similarly, we will seek to align with the Johannesburg Stock Exchange's (JSE) voluntary JSE Sustainability
and Climate Disclosure Guidance.
Our net-zero commitments
CLIMATE-RELATED LEGISLATION, POLICIES AND NDCS
CHILE
PERU
AUSTRALIA
SOUTH AFRICA
GHANA
Key legislation
• Carbon Tax Law
• Framework Law on Climate Change
being developed
• Promotion of expansion of energy
matrix through unconventional
renewable energies
Policy and regulations
• Long-Term Climate Strategy (ECLP)
• National Green Hydrogen Strategy, 2020
• Sectoral mitigation and adaptation plans
Carbon tax
• Carbon tax of US$5/t CO2e to apply to
entities that emit 25 00t CO2e and/or
100t of PM from combustion processes
from 2023
• Framework Law on Climate
• Clean Energy Finance Corporation
Change, 2018
• Energy Efficiency Act, 2007
Act, 2012
• Proposed Greenhouse Gas Storage and
Transport Bill for Western Australia
• National Climate Change Bill
• Carbon Tax Act, 19 of 2019
• Renewable Energy Act, 2011
• 2015 National Climate Change
strategy (ENCC)
• National Forestry and Climate
Change strategy
• Voluntary carbon footprint reporting
• Proposed Registry of Emissions and
Transfers of Pollutants
• Clean Energy Finance Corporation
Investment Mandate Direction 2020
• Climate Solutions Package, 2019
• National Hydrogen Strategy, 2019
• Emissions Reduction Fund and
Safeguard Mechanism
• National Climate Change Adaptation
Strategy, 2020
• Sectoral emission targets framework
and company-level carbon budget
allocations expected 2023
• National Climate Change Policy, 2013
• Ghana Renewable Energy
Master Plan, 2019
• National Adaptation Plan
Framework, 2018
• Phase 1 of Carbon tax regime
taxes primary emissions, with no
liability to date
• Phase 1 extended until end 2025
• Pass-through tax on cement
NDCs1
Carbon neutrality by 2050
Fixed level target
Target of net zero emissions by 2050
Fixed level target
Fixed level target
GHG emissions of no more than
1,100Mt CO2e between 2020 and 2030,
with a peak by 2025 and GHG level of
95Mt CO2e by 2030
Range of 208,8Mt CO2e (unconditional) and
179,0Mt (conditional) by 2030
Reduce GHG emissions by 26% – 28%
below 2005 levels by 2030
Range of 398Mt – 510Mt CO2e for 2025;
350Mt – 420Mt CO2e for 2030 (in line with
Paris Agreement)
Range of 26.9% and 12% reduction
by 2025 and 14.9% and 44.9% by 2030
against business-as-usual levels
Gold Fields response
• Salares Norte’s energy will consist
of a 27MW hybrid microgrid with
10MW of solar
• Renewable energy procured from grid
• Hydro-power allocation classified
• Continued implementation of renewable
• 40MW solar PV plant upgraded to 50MW,
• Upgrade of turbines to combined cycle
energy plants at all four mines
to be commissioned end 2022
gas turbines at Tarkwa
as renewable energy by the International
REC Standard
• Participation in Electric Mine Consortium
• Trial of zero-emission vehicles
• Approval to increase capacity to 60MW
• Electric fleet and diesel replacement
received
• Trial of zero-emission vehicles
1 Source: Climate Watch (climatewatchdata.org)
Gold Fields Climate Change Report 2021
CCR
12
Performance and progress
Energy and carbon management
Energy management is Gold Fields’ key lever in reducing our GHG emissions and transitioning to a low-carbon future. To ensure integrated climate change
leadership and governance, we have established an Executive Steering Committee to oversee our climate change response, of which our decarbonisation
strategy forms a significant part. International best practice, such as the recently revised ICMM Position Statement on Climate Change and implementation
of ISO 50001-certified energy management systems at all sites by 2023, will provide the framework in which our decarbonisation journey will take place.
SDGs:
7
13
AFFORDABLE AND
CLEAN ENERGY
CLIMATE
ACTION
PERFORMANCE
ANALYSIS
2021
Total energy consumption
increased by 6% to 13.9PJ
(2020: 13.1PJ), mainly as a
result of a 10% increase in
tonnes mined. The energy mix
comprises 51% haulage diesel,
48% electricity and less than 1%
of other fuels
Energy intensity
remained virtually
unchanged at 5.66GJ/oz
(2020: 5.64GJ/oz)
1
2
Energy savings increased to
1.21PJ (2020: 1.09PJ), translating
into long-term cost savings of
US$34m, equal to US$14/oz.
Our 2017 Energy and Carbon
Management Strategy
has delivered cumulative
energy savings of 3.3PJ and
combined cost savings of
about US$140m up to 2021
3
Energy spend increased
by 25% during 2021 to US$341m
(2020: US$257m) on the
back of higher oil prices and
increased consumption
Scope 1 and 2 emissions
were 7% higher at 1.7Mt CO2e
than the previous year
(1.6Mt CO2e), despite a 10%
increase in tonnes mined
Emissions intensity increased
slightly to 0.70t CO2e/oz
(2020: 0.69t CO2e/oz)
We exceeded our annual
target of 287kt CO2e in
emissions reductions from
savings initiatives during 2021
by 7%, achieving 306kt CO2e
(2020: 253kt CO2e)
4
5
6
7
EMISSIONS AND REDUCTIONS ACHIEVED
KEY REGIONAL ENERGY INITIATIVES
2,500
2,000
1,500
1,000
500
0
6
1
3
9
6
,
1
6
1
0
2
0
9
1
1
6
,
1
7
1
0
2
3
1
1
6
0
5
,
1
8
1
0
2
8
2
1
1
1
6
,
1
9
1
0
2
7
7
1
5
0
6
,
1
0
2
0
2
■ Scope 1 and 2 emissions ■ Annual GHG emissions avoided
GROUP ENERGY USE AND SAVINGS ACHIEVED
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
1
2
3
6
9
6
,
1
1
6
1
0
2
6
7
1
8
7
1
,
2
1
7
1
0
2
1
1
4
8
2
6
,
1
1
8
1
0
2
5
0
4
8
9
4
,
2
1
9
1
0
2
5
8
0
,
1
9
2
1
,
3
1
0
2
0
2
6
0
3
4
1
7
,
1
1
2
0
2
1
8
0
2
,
1
5
0
9
,
3
1
1
2
0
2
■ Group energy consumption (TJ) ■ Annual energy savings (TJ)
1 Of the Tarkwa mine’s 2021 total energy savings, 5.6TJ (11.2%) were
derived from initiatives that deviate from Gold Fields' reporting criteria.
As these initiatives resulted in cost and energy savings, they have been
recognised as exceptional savings by the Gold Fields Group Head of
Energy and Carbon.
Total cost savings
Cost reductions
CO2e savings
US$0.4m
US$0.4m
US$1.71/oz
US$1.71/oz
1,212 CO2e
1,212 CO2e
US$8.7m
US$8.7m
US$7.63/oz
US$7.63/oz
90,274 CO2e
90,274 CO2e
US$3.9m
US$3.9m
US$13,38/oz
US$13,38/oz
42,638 CO2e
42,638 CO2e
AMERICAS
REGION
Cerro Corona’s carbon footprint is the lowest in Gold Fields. The mine has been ISO 50001 certified since 2018.
Cerro Corona’s carbon footprint is the lowest in Gold Fields. The mine has been ISO 50001 certified since 2018.
• Optimising haulage process and reduction of diesel consumption
• Optimising haulage process and reduction of diesel consumption
• LED light towers
• LED light towers
• Continuation of LED lighting rollout
• Continuation of LED lighting rollout
• Commissioning of 10MW solar plant at the Salares Norte project in Chile in Q2 2024
• Commissioning of 10MW solar plant at the Salares Norte project in Chile in Q2 2024
AUSTRALIA
REGION
Australia is Gold Fields’ leading renewable energy region, with Agnew’s hybrid microgrid supplying 57% renewable electricity
Australia is Gold Fields’ leading renewable energy region, with Agnew’s hybrid microgrid supplying 57% renewable electricity
• Improve haulage efficiency and diesel reduction
• Improve haulage efficiency and diesel reduction
• Installed a power line to reduce diesel consumption
• Installed a power line to reduce diesel consumption
• Installation of capacitor banks to reduce reactive power
• Installation of capacitor banks to reduce reactive power
• Gas waste heat recovery
• Gas waste heat recovery
• Commissioning of renewables microgrid at Gruyere in Q2 2022
• Commissioning of renewables microgrid at Gruyere in Q2 2022
As 93% of South Deep’s carbon footprint is fossil-fuel electricity based, its energy efficiency initiatives are electricity grid-related.
As 93% of South Deep’s carbon footprint is fossil-fuel electricity based, its energy efficiency initiatives are electricity grid-related.
• Commissioning of 50MW solar plant in H2 2022
• Commissioning of 50MW solar plant in H2 2022
• Switch off one 3MW compressor and run one compressor at 4MW
• Switch off one 3MW compressor and run one compressor at 4MW
• Pumping station optimisation and recirculation of water
• Pumping station optimisation and recirculation of water
• Replacement of fans with new energy efficient fans
• Replacement of fans with new energy efficient fans
• Fan systems optimisation
• Fan systems optimisation
SOUTH AFRICA
REGION
WEST AFRICA
REGION
Installation of gas turbines supplied by a pipeline has improved energy security, improved road safety and reduced costs and emissions.
Installation of gas turbines supplied by a pipeline has improved energy security, improved road safety and reduced costs and emissions.
• Electric pumps to replace diesel pumps for dewatering
• Electric pumps to replace diesel pumps for dewatering
• Installation of variable speed drives at tailings pumps
• Installation of variable speed drives at tailings pumps
• Mining equipment optimisation, including eco driver training
• Mining equipment optimisation, including eco driver training
• Carbon-in-leach elution fuel change
• Carbon-in-leach elution fuel change
US$21.1m
US$21.1m
US$27,16/oz
US$27,16/oz
172,008 CO2e
172,008 CO2e
Gold Fields Climate Change Report 2021
CCR
13
Performance and progress
Water stewardship
The 6th Assessment Reports issued by the IPCC confirm that the climate crisis is a water crisis, resulting in too much, too little or too polluted water, or a combination
of these. Our water stewardship approach is that of inclusive management of a commonly shared scarce and valuable resource, acknowledging that access to water is
a fundamental human right and indispensable to the proper functioning of all natural ecosystems. We are also very aware that most of our operations are situated in
water-stressed areas. Gold Fields’ five-year water stewardship strategy is closely aligned to the ICMM Water Position Statement and follows an integrated water
resource management approach, including catchment management informed by risk and opportunity analyses. As water risks are local, each region identified its key
risks and opportunities to develop its regional water management plan. We also started a process to assess the impact of climate change on the integrity of
all water management structures across the Group.
DRIVING SUSTAINABLE ECONOMIES
Gold Fields continued to
participate in CDP water
disclosure and achieved
an A- rating for 2021.
WATER STEWARDSHIP STRATEGY PERFORMANCE
Efficient water user
Responsible operator
Engaged operator
Community projects/initiatives
WATER RECYCLED/REUSED
PERU
• Integrated data management software
• Feasibility study for a TSF water
for water quality monitoring data
• Water resource risk assessment
treatment plant completed
• Provision of water monitoring
reports to host communities
• Rainwater harvesting
• Optimisation of potable water system in
• Workshops with communities were
Hualgayoc
postponed due to Covid-19
restrictions
• Construction of a water treatment plant to
provide drinking water to communities
SOUTH
AFRICA
• Aim to eliminate Rand Water (utility)
• Received the approved amendment
• Active engagement with the
consumption to zero by 2050
• Water conservation and demand
management plan
• Exceeded both water targets
to the 2018 water use licence
• The old return water dam was desilted
and designs for an upgraded lining
completed
Rietspruit Catchment Forum with
instream water quality results shared
• Shared-value projects
• Collaborated with government agencies to
raise awareness of the importance of trees
and water during Arbor Day and planting trees
at three schools
• Starting water management education
programmes in schools
AUSTRALIA
• Water balance reviewed
• Identified water projects, e.g.
commissioned seepage transfer station
at the TSF to capture and recycle
seepage water
• Water management risk assessments
completed, with water management
plans for all sites to be completed
during 2022
• Identified key water stakeholders
• Engaged with all the local shires on
the impacts of climate change, how
to mitigate the effects of drought
etc.
• Participation in the Goldfields Voluntary
Organisation of Councils comprising 10 local
governments to discuss issues in the
Goldfields region of Western Australia
GHANA
• Commissioned clarification plant
• Site water management plans
• Catchment and water source-based
at Tarkwa
completed
risk assessments and controls
• Host community water committees re-formed
• Watershed mapping completed
Our focus remains on continual improvement of our water management practices, pollution prevention, recycling and water conservation. Water stewardship is one of six priorities
of the Gold Fields ESG Charter, with 2030 targets to recycle and reuse at least 80% of water and reduce freshwater use at least 45% from a 2018 baseline. During 2021, Gold Fields
spent US$32m on water management and projects (2020: US$25m). We met all our water-related targets during 2021.
(%)
100
2
8
2
7
50
2
5
4
8
8
6
1
5
9
7
1
8
9
7
3
8
7
8
4
8
0
8
8
8
9
1
8
2
1
4
7
3
2
3
7
3
0
7
1
0
2
8
1
0
2
9
1
0
2
0
2
0
2
1
2
0
2
■ South Africa ■ West Africa ■ Americas ■ Australia ■ Group
FRESHWATER USE/WITHDRAWN
(GL)
10
5
0
5
.
6
2
.
4
3
.
3
3
.
7
9
.
2
9
.
0
8
.
3
5
.
0
2
.
3
7
1
0
2
8
1
0
2
9
.
5
3
.
4
7
.
0
9
1
0
2
8
.
4
6
.
1
9
.
2
6
.
0
7
.
3
4
.
3
6
.
1
7
.
0
0
2
0
2
1
2
0
2
■ South Africa ■ West Africa ■ Americas ■ Australia ■ Group
SDG:
6
CLEAN WATER
AND SANITATION
PERFORMANCE
DATA
The primary gains were achieved at Tarkwa and South Deep. Tarkwa installed a micro-filtration
unit on a clarifier return line to the carbon-in-leach plant and reused process water for cooling
at the power plant and to mix explosives and some chemicals
TARGET
Recycle/reuse 80% of total water use by 2030
PERFORMANCE IN 2021
75%
South Deep continued to recycle treated sewage effluent and upgraded its potable water
pipeline, reducing losses
TARGET
45% reduction of freshwater use from
a 2018 baseline by 2030
PERFORMANCE IN 2021
35%
ICMM issued an updated Water
Reporting Guideline and we updated
our internal guideline accordingly.
Gold Fields Climate Change Report 2021
CCR
14
Tailings storage facilities
SDGs:
9
6
6
INDUSTRY,
CLEAN WATER
CLEAN WATER
INNOVATION AND
AND SANITATION
AND SANITATION
AND SANITATION
INFRASTRUCTURE
12
RESPONSIBLE
CONSUMPTION
MANAGEMENT OF
TAILINGS DAMS
TAILINGS MANAGEMENT STRATEGY
Gold Fields’ Tailings Storage Facility (TSF) Management Policy Statement commits us to ensure that our TSFs cause zero harm or damage
to our people and the natural environment. At the industry and company level, we are pursuing two broad strategies to further strengthen
the technical management and governance of the 37 tailings facilities at our operations and joint ventures.
As a member of the ICMM, Gold Fields has been integrally part of the development of the Global Industry Standard on Tailings
Management (GISTM) as an international imperative to prevent TSF failures, such as those that had occurred over the past few years
at the Brumadinho and Samarco TSFs in Brazil, both resulting in major losses of lives, and the Mount Polley TSF in Canada. This global
best practice standard sets out how companies can ensure that tailings facility risks are managed appropriately, consistently and
transparently.
At a company level, Gold Fields has publicly endorsed and committed to conforming to the GISTM. We have also aligned our tailings
management practices to the ICMM position statement on tailings management. In 2021, Gold Fields launched a review of each of
our major water management structures, including TSFs, to evaluate their status, identify opportunities for improvement and assess
the potential impact of climate change on their integrity.
CLIMATE CHANGE RISK AND VULNERABILITY ASSESSMENTS
We appreciate that risk management and, specifically, a deep understanding of the climate change resilience and vulnerability of our
TSFs is an integral part of our TSF strategy. Therefore, we have initiated a process to amplify the recently completed regional risk and
vulnerability assessments (see p16 – 20) to include a specific focus on our TSFs and water management structures. In addition, we will
follow the ICMM Tailings Best Practice Guide in relation to TSF design for climate change as part of our process towards conformance
to the GISTM. The actions to achieve this include the following:
• Ensure that the hydrological parameters are current
• Estimate the potential changes in Annual Exceedance Probability (AEP) and Probable Maximum Precipitation (PMP) events due to
climate change at each operation
• Update water balances and hydrological and hydrogeological models for all operations
• Develop a water-retaining structure design guideline or standard.
SOUTH DEEP DOORNPOORT TSF CLIMATE RISK ASSESSMENT
We initiated the first regional assessment of the Doornpoort TSF at South Deep during 2021, with the assistance of external specialists.
The assessment continued the recent regional risk and vulnerability assessment and the 2019 dam break assessment. The assessment
is based on a climate change scenario of an increase in the mean temperature, a decrease in rainfall and an increase in rainfall variability.
The two main hazards in connection with TSF failure are slope instability and overtopping, which could lead to the uncontrolled release
of tailings and water in the form of a flow slide. These flow failures, in turn, could lead to serious environmental impacts and potential
impacts on nearby residential settlements. However, both overtopping failure and slope instability are unlikely due to adequate water
management and performance monitoring.
Performance and progress
The tailings dam at Cerro Corona in Peru
OUR TSF
MANAGEMENT
TIMELINE
2015
2018
2020
2023
2025
2030
ICMM review of
Samarco and Mt
Polley failures
Gold Fields TSF
Management
Guideline updated
Gold Fields Incident
Standard developed;
Gold Fields TSF audits
conducted; AMIRA
Research Project
launched; GISTM
launched through
ICMM
Gold Fields Climate Change Report 2021
CCR
15
Tarkwa and Cerro
Corona GISTM
conformance exercise
to be completed
All other TSFs GISTM
conformance studies
to be completed
Target to reduce
active upstream TSFs
from five to three
Climate change risk and vulnerability
Climate change risk and vulnerability assessment
A second round of climate change risk and vulnerability assessments was conducted at all our mines during 2021, other than at the Salares Notre project, which conducted its first assessment. The initial assessments followed the ICMM
methodology to increase the resilience of Gold Fields, our operations, the value chain and local communities, as set out in the “Adapting to a changing climate” 2013 ICMM Report. In 2019, the ICMM released an update to the report,
entitled “Adapting to a changing climate: building resilience in the mining and metals industry”, following the same methodology.
The updated assessments followed this methodology and classified the impacts of climate change on the core operations, the value chain and the broader network comprising the social and natural environment. Risk is determined by
the severity and the probability of an uncertain future event occurring. Vulnerability evaluates the degree to which a system is incapable of coping with adverse effects of climate change. The vulnerability of a system is determined by the
exposure to the climate change impact, the sensitivity of the system, and its capacity to adapt. The vulnerability of each risk is classified as low, medium or high, according to the consideration of the exposure to climate change and its
sensitivity, followed by an adjustment according to the adaptive capacity of the system to climate change.
CHILE – Salares Norte Project
NATIONAL
PROJECTIONS
➜
➜
➜
Increased
temperature
Decreased
snow
Decreased
annual rainfall
Increased storm
frequency and intensity
Increased
water stress
LOCAL
PROJECTIONS/
FACTORS
4,500m altitude, extreme wind and snow, open pit mining
This is the first risk and vulnerability assessment completed for the Salares Norte project in Chile, covering the currently expected life-of-mine of the project of 11.5 years. The assessment focused on gaining an understanding of the extent of
the risks and the project’s vulnerability over the life-of-mine. The next phase of the process, within the next two years, will entail developing adaptation measures to address these risks and increase the resilience of the project.
Business process/stakeholder
Climate change impact
Risk
Vulnerability
Processing
Transport
Health and safety
Disruption to operations
Reduced available quantity of process water
Communication failure
Increased electricity costs due to low PV efficiency
Disruption in transport system and damage to internal roads
Increased cooling/heating costs and potential heat/cold stress
Land slide
Migration
Drought
Sea Swells
Land slide
Migration
Melting Glacier
Respiratory illness
West Africa
Peru
West Africa
Drought
Sea Swells
Frost
Decreasing wind speed
Peru
Water stress
Melting Glacier
Respiratory illness
Land slide
Migration
West Africa
Frost
Decreasing wind speed
Water stress
Increased discomfort experienced by mine employees
Decreased productivity due to lower temperatures
Suppliers
Contractor workforce
Social environment
Drought
Sea Swells
Peru
Melting Glacier
Respiratory illness
Land slide
Migration
Frost
Decreasing wind speed
Water stress
Land slide
Drought
Migration
Sea Swells
Drought
Sea Swells
Melting Glacier
Respiratory illness
West Africa
West Africa
Peru
Peru
Melting Glacier
Respiratory illness
Frost
Decreasing wind speed
Water stress
Land slide
Frost
Migration
Decreasing wind speed
Water stress
West Africa
Disruption to core services and supplies and delays in transport of materials, critical equipment and spares
Increased costs of upstream products
Disruption to operations
Movement of personnel to sites and interruptions
Reputational impact due to the impact on the “Salar de Pedernales” (Salt lake)
Increased tension in communities due to living conditions and lack of access to safe water
Regulatory
Drought
Sea Swells
Land slide
Migration
Peru
Melting Glacier
Respiratory illness
Drought
Sea Swells
Increased vulnerability of host communities
West Africa
Increased dependency of host communities on Gold Fields
Peru
Increased restrictions on GHG emissions and restriction on the use of fresh water for mining
I
S
N
O
T
A
R
E
P
O
E
R
O
C
I
N
A
H
C
E
U
L
A
V
K
R
O
W
T
E
N
R
E
D
A
O
R
B
Infrastructure
Land slide
Migration
Natural environment/
biodiversity
Drought
Sea Swells
West Africa
Drought
Flooding
Peru
Ocean swells
Frost
Decreasing wind speed
Water stress
Land slide
Migration
Melting Glacier
Respiratory illness
West Africa
Carbon tax and increased reporting
Frost
Decreasing wind speed
Water stress
Increase in flooding and damage to public roads
Drought
Sea Swells
Peru
Reduced availability of water and food for fauna (chinchilla)
Melting Glacier
Respiratory illness
Land slide
Migration
West Africa
Storms
Water scarcity
Landslides
Temperature
Water stress
Snow
Wind
Heat/cold stress
Carbon tax
Negative investor perceptions
Melting Glacier
Respiratory illness
Frost
Decreasing wind speed
Water stress
Drought
Sea Swells
Peru
Frost
Decreasing wind speed
Water stress
Melting Glacier
Respiratory illness
Frost
Decreasing wind speed
Water stress
Gold Fields Climate Change Report 2021
CCR
16
Medium
Medium
Medium
Low
Medium
Medium
Medium
Low
Medium
Low
Medium
Medium
Medium
Medium
Medium
Low
Medium
Low
Medium
Low
Climate change risk and vulnerability assessment continued
PERU – Cerro Corona
NATIONAL
PROJECTIONS
Increased
temperature
➜ ➜
Increased rainfall
variability
➜
Increased extreme
weather events
➜
Increased
rainfall
LOCAL
PROJECTIONS/
FACTORS
Open pit mining, 3,600 – 4,000m altitude, extreme rainfalls that could disrupt the route to the harbour
Business process/stakeholder
Climate change impact
Risk
Vulnerability
Adaptation measures
Climate change risk and vulnerability
I
S
N
O
T
A
R
E
P
O
E
R
O
C
I
N
A
H
C
E
U
L
A
V
K
R
O
W
T
E
N
R
E
D
A
O
R
B
Waste disposal
TSF slope stability and integrity
Extraction
Decreased productivity during heavy rainfall events
Opencast mine slope stability
Pit flooding compromising the pumping systems and threatening the
quality of water being discharged
Interruption in production due to decrease in available water due to
increased evaporation caused by increased temperature
Unsafe working conditions for field workers due to increased
lightning storms
Cessation of operations caused by interruption of concentrate transport
to port
High
High
High
High
• Alignment with GISTM
• Slope stability monitoring system in place
• Monitoring of ground water levels, piezometric ground water pressure, pumping capacity, water treatment capacity and
TSF capacity
• Pit dewatering system, including backup pumps
• Slope stability monitoring system in place
• Pit dewatering system, including pumping wells, channels for drainage and collection and ponds for storage and
pumping
• Monitoring of groundwater levels
Medium
• Short and long-term water balance models and decisions on water transfers
High
High
• Early storm warning system to alert workers of electrical storms
• Shelter provided for field workers
• Increase of concentrate storage capacity on-site and at the port
Damage to roads due to flooding and excessive rainfall
Medium
• Use of crushed rock on the surface of the road
• Frequent maintenance of the roads
Negative impact on natural vegetation process affecting closure
and post-closure
Medium
• Feasible revegetation plan as part of the mine closure plan
➜
➜
➜
➜
West Africa
Peru
Land slide
Migration
Drought
Sea Swells
Melting Glacier
Respiratory illness
Frost
Decreasing wind speed
Water stress
Land slide
Migration
Drought
Sea Swells
West Africa
Peru
Health and safety
Transport
Mine closure
Supply chain
Port infrastructure
➜
Melting Glacier
Respiratory illness
Damage to port infrastructure could cause logistics and supply
chain delays
Disruption in supply chain and the interruption of the provision
of supplies
High
High
• Available alternative routes are in fairly good condition for the delivery of products
• Increased stock level of diesels up to approximately 10 days in the event of a disruption
• Construction works at the dam wall are postponed during the rainy season and resumed during the dry season
• Investigations of an alternative port for shipping of concentrate
Electricity supply
Frost
Decreasing wind speed
Water stress
Interruption of electricity supply due to impact on hydropower from
melting glaciers
Medium
• Back-up energy supply
Transport and supply chain
➜
Disruption of supplies due to road damage
Medium
• Alternative routes have been identified and on-site stock supply for operations
Social environment
Poverty and literacy levels may hamper the ability of host communities
to build resilience to the impacts of climate change
Medium
• Training and awareness on the impacts of climate change
• Implementation of projects to improve the water supply to the host communities including water treatment and
Drought
Sea Swells
Peru
rainwater harvesting
Land slide
Migration
West Africa
➜
➜
➜
Natural environment/
biodiversity
Melting Glacier
Respiratory illness
Increased vulnerability of food provision and food prices for
coastal communities
Frost
Decreasing wind speed
Water stress
Migration trend inland into the direct area of influence of the mine
as demands for jobs increase
Medium
• Increased engagement with communities and investment in agricultural projects
Medium
• Focus on host community employment and non-mining jobs
Spread of water pollution and water borne diseases affecting host
communities due to change in water flow
Medium
• Community-based initiatives to build community resilience
• Shared Value Strategy
Change in ecosystem services due to the impacts of climate change
Low
• Investigate options to enhance the resilience of ecosystem services to host communities
Land slide
Migration
West Africa
Heavy rainfall
Flooding
Extreme weather events
Lightning
Storms
Evaporation
Temperature
Landslides
Rockfalls
Drought
Glacier melting
Sea level rise
Storm surges
➜
Increased rainfall
Drought
Sea Swells
Peru
Melting Glacier
Respiratory illness
Gold Fields Climate Change Report 2021
CCR
17
Frost
Decreasing wind speed
Water stress
Climate change risk and vulnerability
Climate change risk and vulnerability assessment continued
AUSTRALIA – St Ives, Granny Smith, Gruyere and Agnew
NATIONAL
PROJECTIONS
➜
➜
Increased
temperature
Reduced
rainfall
Increased extreme
weather events
Increased
bushfires
Legislation and
policy changes
LOCAL
PROJECTIONS/
FACTORS
Mostly underground mining with some surface mining in remote, arid and mostly hot areas with high evaporation.
Extremely infertile soils with saline to hypersaline groundwater.
Increase in temperature, decrease in annual rainfall, increase in the intensity and the number of hot days, increase
in droughts, increase in bushfires.
Business process/stakeholder
Climate change impact
Risk
Vulnerability
Adaptation measures
Extraction
Adequacy of flood management and storage capacities to
safeguard personnel
Medium
• Align flood management protocols to a critical control management approach
• Review surge capacity in light of in-pit waste rock disposal
• Integrated long-term modelling into closure planning for appropriate structures
Mineral processing
Declining availability of process water
Medium
Waste disposal
TSF stability during periods of extreme rainfall
Medium
Health and safety
Increase in ventilation requirements as mines move deeper
and ambient temperature increases
Medium
Bushfire impact to infrastructure, supply and safety
Medium
• Life of mine water risk assessments for all sites
• Water included into strategic plans
• Water source and capacity studies at all operations
• Complete buttress works at the Granny Smith TSF
• Complete drainage works at the Gruyere TSF
• Utilise in-pit tailings where possible
• Align to the GISTM
• Closure modelling scenarios to include long-term stability assessments
• Innovation and technology strategy
• Participate and provide input into the Electric Mine Consortium
• Investigate and trial battery electric vehicles for the underground operations
• Continue with investigations and deployment of remote technologies and ventilation-on-demand technologies
• Review site critical hazard standards to ensure appropriate coverage of bushfire risk
• Review site-based fire management plans
• Identify at risk infrastructure
• Mutual aid agreements at all sites to ensure regional responses
• Participation in Goldfields Voluntary Regional Organisation of Councils work on climate change
Energy consumption increase for cooling of equipment
and workplaces
Medium
• Align to ISO 50001
• Energy management plans for all sites, inclusive of a focus on energy efficiency
• Implement technology strategy to reduce heat loading
• Transition energy sources to renewable energy
Policy and regulatory
Government restricting access to water
Medium
• Implementation of the three-year water management strategies
• Broaden water balance focus to mining activity with linked water management plans
• Identify all potential water sources with a view towards regulatory approval
• Water included into strategic plans
Social environment
Societal pressure to address climate change
Medium
• Develop a plan for 30% emissions reductions by 2030
• Continue with renewable energy projects
• Utilise the existing government engagement plan to emphasise Gold Fields’ approaches and successes to
tackle climate change
• Participate in the Chamber of Minerals and Energy structures and ensure Gold Fields content within the social
positioning campaigns
I
S
N
O
T
A
R
E
P
O
E
R
O
C
I
N
A
H
C
E
U
L
A
V
K
R
O
W
T
E
N
R
E
D
A
O
R
B
Storms
Flooding
Water scarcity
Extreme weather events
Temperature
Evaporation
Bushfires
Drought
Regulations
Social licence to operate
Gold Fields Climate Change Report 2021
CCR
18
Climate change risk and vulnerability
Climate change risk and vulnerability assessment continued
SOUTH AFRICA – South Deep
NATIONAL
PROJECTIONS
➜ ➜
➜
➜
Increased
temperature
Increased rainfall
variability
Decreased
annual rainfall
Increased
storms
Increased water stress
and prolonged drought
LOCAL
PROJECTIONS/
FACTORS
Deep underground mining up to 2,995 metres below ground level and surface mining.
Business process/stakeholder
Climate change impact
Risk
Vulnerability
Adaptation measures
Underground
Processing
Increased electricity consumption and costs, due to more cooling
requirements
Reduced onsite water flows resulting in increased demand for water
from Rand Water and Rand Water’s inability to provide sufficient
quantity of water
High
High
Health and safety
Employee heat exhaustion and dehydration, specifically at surface
operations
Medium
• 50MW solar PV project
• Energy efficiency initiatives, including energy efficient vent fans
• Redirected sewerage effluent into process water system for reuse
• Increased on-site water storage, with water storage reticulation projects
• Additional boreholes drilled with water conservation schemes
• Developed scavenger wellfields
• Various projects implemented in terms of fan efficiency increase in the cooling system
• Increased awareness related to heat stress incorporated into health and safety programmes
• Updated heat stress and dehydration strategies
Waste management
TSF slope stability during periods of high rainfall
Medium
• Implementation of GISTM
• Incorporation of climate change into TSF design and modelling
Mine closure
Electricity
infrastructure
Suppliers
Workforce
Negative impact on natural revegetation process as part
of rehabilitation process
Low
• Continual evaluation of the mine closure plan
Increased electricity costs or disruption of supply
Medium
• 50MW solar PV project
• Investigations into further renewable energy projects
• Implementation of energy efficient vent fans
Increased price of upstream products due to carbon tax
Medium
• Engagement with suppliers about carbon tax
Employees working outside on surface at increased risk of heat
exhaustion and dehydration
Medium
• Increased awareness related to heat stress incorporated into health and safety programmes for surface
personnel.
Host communities
Increased tension in communities due to delivery and living conditions
High
• Initiatives to build adaptive capacity of the host communities, including social investments to increase
Climate change exacerbates the risk of increased dependency of host
communities on Gold Fields as a result of poor service delivery
Medium
economic diversification, education, training and health and wellbeing.
• Continual engagement with host communities.
• Consider water infrastructure upgrade projects at host communities.
• Reduce dependence on water utility.
• Continual engagement with host communities.
I
S
N
O
T
A
R
E
P
O
E
R
O
C
I
N
A
H
C
E
U
L
A
V
K
R
O
W
T
E
N
R
E
D
A
O
R
B
Temperature
Water stress
Drought
Heatwaves
Extreme weather events
Air quality
Flash floods
Carbon tax
Gold Fields Climate Change Report 2021
CCR
19
Climate change risk and vulnerability assessment continued
GHANA – Tarkwa and Damang
NATIONAL
PROJECTIONS
➜ ➜
➜
➜
➜
Increased
temperature
Increased rainfall
variability
Increased extreme
weather events
Increased
very hot days
Sea level
rise
LOCAL
PROJECTIONS/
FACTORS
Open pit mining – high flood risk, extremely high risk of untreated water and wastewater discharge, high risk of
drinking water shortage, extremely high risk of unimproved/no sanitation, high risk of drought, high risk of tailings
and infrastructure failures, stringent regulation.
Business process/stakeholder
Climate change impact
Risk
Vulnerability
Adaptation measures
Climate change risk and vulnerability
Extraction
Larger volumes of mine water and increased pit flooding and pumping
with associated increased operational costs
High
Decreased water quality available for processing purposes
Increased operational costs due to maintenance of roads
Materials handling
and processing
TSF and infrastructure failure
High
High
High
Health and safety
Increased discomfort experienced & risk of heat-related illnesses
High
Suppliers
Regulatory
Social environment
Investor perceptions
Insurance providers
Natural environment
Increased spread of vector-borne diseases such as malaria, cholera, etc.
High
Weather-related delays in transport of materials, critical equipment
and spares
Increased legislative and other requirements, including renewable
energy and biodiversity protection
Increased vulnerability of host communities due to impacts of climate
change, including increased dependency on Gold Fields for service
provision and financial support during crises
High
High
High
Decreased food security, increased spread of tropical diseases
worsening community health and poverty, induce migration, contribute
to civil unrest, and increase conflict over natural resources.
High
Increased pressure from investors, lenders, and insurers to minimize
carbon liabilities and develop adaptation plans.
Medium
Climate-related damage may raise premiums or make insurers unwilling
to provide insurance or re-insurance.
Increased difficultly to reestablish vegetative cover
Medium
High
I
S
N
O
T
A
R
E
P
O
E
R
O
C
I
N
A
H
C
Y
L
P
P
U
S
K
R
O
W
T
E
N
R
E
D
A
O
R
B
Drought
Flooding
Storms
Stringent regulation
Water scarcity
Temperature
Sea level rise
Extremely uncomfortable days
Gold Fields Climate Change Report 2021
CCR
20
• Undertake a mine wide flood risk assessment and modelling to assess hotspots or flush points for planning
• Continue to mine deeper in the dry season to compensate for wet season limitations
• Increase stockpiling to ~28 days, as per longest period of consecutive days of rainfall
• Divert excess run-off water away from pit
• Upgrade pumps and secure back ups
• Drainage channels enhancement
• Continued on-site water quality testing and permitting for discharge
• Increase water recycling and treatment to improve water quality
• Continue to raise or elevate roads with adequate terrain and gradient
• Line haul roads with crushed waste rock for operational continuity on rainy days
• Continue to divert run-offs away from road networks
TSFs:
• Continue to implement effective GISTM programmes
• Ensure mine is ICMI certified at all times
• Ensure all TSFs have overflow outlet paths/spill ways, especially during high rainfall periods and emergencies
• Erosion resilient material used in constructing TSF walls
Mine infrastructure:
• Undertake infrastructure resilience study
• Increase the frequency and condition monitoring programmes and implement corrections where needed
• Use climate resilient materials for construction/building structures on the mine
• Provide for increased operating cost from energy usage in hot seasons
• Invest in solar hybrid air conditioners for onsite offices
• Employee training on heat stress/climate change and health issues, including malaria and heat stress monitoring
programme, including frequent health checks
• Enhanced employee wellbeing programmes
• Malaria control and insect bite prevention programme
• Employee training
• Critical spares pre-ordered and stocked considering potential downtimes
• Green/sustainable procurement practices
• Regular monitoring of roadside waterways, including storm water diversion
• Regular storm water drains maintenance and desilting
• Continued monitoring of regulatory developments, including updated NDC
• Continue to Implement a dynamic and effective climate change strategy
• Prioritise compliance obligations
• Consider climate offset projects (such as waste-to-energy, solar project, forest protection/conservation etc.) and work
closely with communities, government/regulators
• Continued community education on climate change impacts
• Community shared value programmes, including rehabilitation of household ablution and water facilities
• Assisting municipalities with providing basic service delivery, including electricity, potable water, and ablution facilities
• Extensive collaboration with NGOs in areas of sanitation, water
• Water and Sanitation Committee to continue
• Dynamic emergency preparedness and response awareness
• Effective host community procurement and job creation
• Farmer education and studies to investigate harvesting trends in line with climatic conditions
• Continued support to improve community economic performance through various programmes (e.g. YouHOP, Cocoa growing)
• Effective decarbonisation programmes, including offset projects
• Good environmental stewardship practices
• Effective implementation of sustainable mining plans/strategy
• Closure costs and bonds in place
• Effective climate change strategy and implementation
• Increase financial provisions for insurance
• Develop closure designs that support survival of flora/fauna under adverse conditions
• Biodiversity management plans to include climate resilient vegetation strategies
• Implement effective biodiversity management programmes
Regional and Group energy carbon performance
ELECTRICITY PURCHASED (GWh)
Peru
Australia
South Africa
Ghana
Group
DIESEL CONSUMPTION (ML)
Peru
Australia
South Africa
Ghana
Group
TOTAL ENERGY CONSUMPTION (PJ)
Peru
Australia
South Africa
Ghana
Group
ENERGY INTENSITY (GJ/oz PRODUCED)
Peru
Australia
South Africa
Ghana
Group
TOTAL ENERGY COSTS (US$m)
Peru
Australia
South Africa
Ghana
Group
ENERGY SPEND (% OF OPEX)
Peru
Australia
South Africa
Ghana
Group
SCOPE 1 CO2 EMISSIONS (kt)2
Peru
Australia
South Africa
Ghana
Group
SCOPE 2 CO₂e EMISSIONS (kt)2
Peru
Australia
South Africa
Ghana
Group
SCOPE 3 CO₂e EMISSIONS (kt)2
Peru
Australia
South Africa
Ghana
Group
EMISSIONS INTENSITY (TONNES CO2e/oz) (SCOPE 1 AND 2)2
Peru
Australia
South Africa
Ghana
Group
Includes 100% energy costs for Gruyere, previously 50% was included.
¹
2 Emission factors 2016 to 2020 for West Africa and Americas restated in line with ISO 14064.
Gold Fields Climate Change Report 2021
CCR
21
2021
152
189
465
474
1,280
19
64
3
107
193
1.23
5.21
1.78
5.69
13.90
4.94
4.94
6.10
7.33
5.66
30
1241
43
144
341
16%
15%
14%
25%
14%
52
425
9
302
788
27
106
493
302
927
54
245
34
209
542
317
460
1,710
777
697
2020
147
174
399
476
1,197
14
54
2
115
185
1.02
4.70
1.52
5.89
13.13
4.92
4.10
6.69
7.86
5.64
23
84
29
121
257
15%
12%
12%
23%
16%
29
364
7
357
756
33
97
415
304
850
41
232
29
216
518
299
400
1,870
882
690
2019
148
211
436
457
1,253
17
56
2
115
190
1.15
3.91
1.65
5.79
12.50
3.93
4.05
7.42
7.96
5.67
29
81
32
158
300
17%
13%
13%
33%
20%
33
282
6
361
682
39
120
463
307
929
61
171
27
225
484
246
420
2,111
918
730
2018
150
247
450
437
1,284
15
52
2
114
184
1.08
3.14
1.69
5.71
11.63
3.45
3.56
10.76
8.10
5.64
26
78
33
164
302
16%
15%
13%
37%
21%
29
215
6
349
599
33
141
436
297
907
63
152
25
243
484
197
400
2,813
915
730
Statistic and assurance
2017
151
282
498
435
1,366
12
59
3
113
188
1.00
3.63
1.90
5.65
12.18
3.25
3.89
6.77
7.95
5.46
22
81
34
120
258
15%
15%
11%
26%
17%
28
235
9
434
705
33
160
493
234
919
49
168
28
240
485
199
420
1,780
939
732
2016
153
287
526
434
1,400
13
71
3
97
183
1.01
3.60
2.01
5.07
11.70
3.75
3.82
6.91
7.09
5.27
21
84
32
153
289
14%
14%
12%
32%
20%
29
233
9
448
719
39
166
526
241
972
45
167
35
203
450
253
430
1,920
963
763
Gold Fields’ carbon footprint – 2021
Statistic and assurance
Operation
SOUTH AFRICAN REGION INCLUDING OFFICES
South Deep Joint Venture
Gold Fields Group Service
WEST AFRICAN REGION INCLUDING OFFICES
Tarkwa Gold Mine
Damang Gold Mine
Accra office
AUSTRALIAN REGION INCLUDING OFFICES
St Ives Gold Mine
Agnew Gold Mine
Gold Fields DHC Proprietary Limited
Granny Smith Gold Mine
Gruyere Management Proprietary Limited
Perth office
SOUTH AMERICAN REGION INCLUDING OFFICES
Cerro Corona Gold Mine
Lima office
GROUP TOTAL
Operation
SOUTH AFRICAN REGION INCLUDING OFFICES
South Deep Joint Venture
Gold Fields Group Service
WEST AFRICAN REGION INCLUDING OFFICES
Tarkwa Gold Mine
Damang Gold Mine
Accra office
AUSTRALIAN REGION INCLUDING OFFICES
St Ives Gold Mine
Agnew Gold Mine
Gold Fields DHC Proprietary Limited
Granny Smith Gold Mine
Gruyere Management Proprietary Limited
Perth office
SOUTH AMERICAN REGION INCLUDING OFFICES
Cerro Corona Gold Mine
Lima office
Diesel: haulage
and other
Diesel: power
generation
Petrol
Liquid
petroleum gas
Gas for power
LNG
Blasting agents
Gas for process
(pipeline
natural gas)
Acetylene
Total
scope 1
emissions
Total
scope 2
emissions
Total
scope 1 and 2
emissions
Scope 1 – 2 emissions (tCO2e) – 2021
8,592
8,587
5
288,605
207,040
81,481
84
169,220
50,529
24,910
32,882
60,899
50,483
50,456
27
516,899
2,166
2,166
2,867
317
704
1,846
5,033
140
140
78
78
218
3,180
323
2,856
1
2,828
1,198
750
861
20
213
213
245,812
32,209
84,706
128,897
6,221
245,812
318
318
4,976
4,119
857
2,924
196
402
377
1,949
1,479
1,479
9,697
2,613
2,613
1,339
(0)
1,339
15
15
20
10
10
7
2
1
1
3
3
3
8,924
8,920
5
301,699
214,105
87,369
225
424,998
51,925
58,588
119,531
194,953
52,255
52,228
27
493,117
493,050
66
301,656
204,617
96,791
247
105,641
105,539
0
0
0
102
26,554
26,554
502,041
501,970
71
603,355
418,722
184,160
472
530,639
157,464
58,588
119,531
194,953
102
78,810
78,783
27
3,952
45
787,877
926,968
1,714,845
Scope 3 emissions (tCO2e) – 2021
Total
purchased
goods and
services
Total
fuel and
energy-related
activities
Upstream
transport and
distribution
Waste
generated
Total
business
travel
15,759
15,757
1
61,259
47,001
14,236
22
111,677
43,318
19,913
14,115
34,332
15,454
15,454
15,986
15,984
2
142,710
110,464
32,185
61
120,991
18,618
16,317
24,990
61,063
3
37,049
37,043
6
171
171
0
2,980
2,221
757
1
3,322
992
601
566
1,162
925
925
0
7,397
344
344
774
686
88
501
248
18
102
133
120
120
66
44
22
336
268
67
1
6,505
364
1,686
2,228
2,227
424
424
Employee
commuting
1,013
1,013
0
481
298
184
0
869
210
127
0
239
72
221
168
168
0
Downstream
transport and
distribution
Processing of
sold products
End-of-life
treatment of
sold product
Total
scope 3
emissions
27
27
6
4
2
22
8
4
5
5
8
8
62
100
100
143
96
47
210
72
41
51
45
24
24
477
200
200
286
192
94
419
144
82
103
91
48
48
953
33,665
33,639
26
208,974
161,229
47,659
86
244,516
63,974
38,790
0
42,399
99,129
224
54,221
54,214
6
541,375
GROUP TOTAL
204,149
316,737
1,739
7,330
2,531
The following categories of Scope 3 emissions are zero
Category
Comment
Capital goods
Upstream leased assets
Use of sold products
Downstream leased assets
Franchises
Investments
This is reported as zero as it is not applicable for reporting
This is reported as zero because energy use after refining of gold is assumed to be negligible
No franchises, therefore zero
No franchises, therefore zero
Gold Fields Climate Change Report 2021
CCR
22
Statistic and assurance
TCFD Index
TCFD RECOMMENDATION
WHERE DISCLOSED IN THIS REPORT
PAGES
OTHER LINKAGES1
GOVERNANCE
– Disclose the organisation’s governance around climate-related risks and opportunities
a. Describe the Board’s oversight of climate-related risks and opportunities.
b. Describe management’s role in assessing and managing climate-related risk
and opportunities.
• Climate change leadership and advocacy
• CEO’s statement
• SHSD Chair’s statement
• Governance and management
• Climate change targets and highlights
• Climate change leadership and advocacy
• Governance and management
• Gold Fields’ climate-related policy statements
and commitments
• Our decarbonisation journey
• Renewable energy
• Climate change risks and opportunities
• Climate change risk and vulnerability assessments
3 – 5
3, 5 – 12,
16 – 20
STRATEGY
– Disclose the actual and potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy and financial planning where such information is material
a. Describe the climate-related risks and opportunities the organisation has identified
over the short, medium and long term.
• Renewable energy
• Climate change risks and opportunities
• Transitionary risks
• Climate change risk and vulnerability assessments
10, 12,
16 – 20
IAR – Governance and Leadership
AFR – Responsibilities of the SHSD Committee
IAR – Risks and opportunities
IAR – CEO’s report
IAR – Our ESG priorities and 2030 targets
IAR – Environmental stewardship
IAR – Water management
IAR – Climate change and energy management
IAR – Tailings Management
www.goldfields.com/energy-and-climate-change.php
IAR – Risks and opportunities
IAR – CEO’s report
IAR – Water management
IAR – Climate change and energy management
IAR – Tailings Management
b. Describe the impact of climate-related risks and opportunities on the organisation’s
business, strategy and financial planning.
c. Describe the resilience of the organisation’s strategy, taking into consideration
different climate-related scenarios, including a 2°C or lower scenario.
• CEO’s statement
• SHSD Chair’s statement
• Renewable energy
• CEO’s statement
• SHSD Chair’s statement
• Our decarbonisation journey
• Climate change risks and opportunities
• Transitionary risks
• Climate change risk and vulnerability assessments
10 – 20
IAR – Risks and opportunities
IAR – CEO’s report
www.goldfields.com/energy-and-climate-change.php
4, 8 – 9
IAR – Climate change and energy management
RISK MANAGEMENT
– Disclose how the organisation identifies, assesses and manages climate-related risks
a. Describe the organisation’s process for identifying and assessing climate-related
risks.
b. Describe the organisation’s processes for managing climate-related risks
• Climate change risks and opportunities
• Transitionary risks
• Climate change risks and opportunities
• Transitionary risks
• Climate change risk and vulnerability assessments
16 – 20
• Climate change risk and vulnerability assessments
16 – 20
c. Describe how processes for identifying, assessing, and managing climate-related
risks are integrated into the organisation’s overall risk management.
• Climate change risks and opportunities
• Transitionary risks
• Climate change risk and vulnerability assessments
• Water stewardship
• Tailings storage facilities
14 – 20
IAR – Risks and opportunities
www.goldfields.com/risk-materiality.php
IAR – Risks and opportunities
www.goldfields.com/risk-materiality.php
IAR – Risks and opportunities
www.goldfields.com/risk-materiality.php
METRICS AND TARGETS
a. Disclose the metrics used by the organisation to assess climate-related risks and
opportunities in line with its strategy and risk management process.
• Climate change targets and highlights
• Gold Fields’ climate-related policy statements
b. Disclose scope 1, 2 and if appropriate scope 3 GHG emissions and the related risks
c. Describe the targets used by the organisation to manage climate-related risks and
opportunities and performance against targets.
and commitments
• Our decarbonisation journey
• Energy and carbon management
• Regional and Group energy carbon performance
• Climate change targets and highlights
• CEO’s statement
• Governance and management
• Gold Fields’ climate-related policy statements
and commitments
1 IAR = 2021 Integrated Annual Report; AFR = 2021 Annual Financial Report (including Governance Report); GRI = Global Reporting Initiative Content Index
• Energy and carbon management
• Water stewardship
• Regional and Group energy carbon performance
• Gold Fields’ carbon footprint – 2021
3, 6 – 9,
13 – 14,
21 – 22
IAR – Risks and opportunities
www.goldfields.com/risk-materiality.php
www.goldfields.com/energy-and-climate-change.php
• Gold Fields’ carbon footprint – 2021
13, 21 – 22
IAR – Environmental stewardship
IAR – Climate change and energy management
• Our decarbonisation journey
• Energy and carbon management
• Water stewardship
3 – 9,
13 – 14,
21 – 22
IAR – Environmental stewardship
IAR – Climate change and energy management
www.goldfields.com/energy-and-climate-change.php
Gold Fields Climate Change Report 2021
CCR
23
External assurance statement
INDEPENDENT ASSURANCE STATEMENT TO THE BOARD OF DIRECTORS
OF GOLD FIELDS LIMITED
ERM Southern Africa (Pty) Ltd (‘ERM’) was engaged by Gold Fields Limited (‘Gold Fields’) to provide reasonable assurance in relation
to selected sustainability information set out below and presented in Gold Fields’ 2021 Climate Change Report for the year ended
31 December 2021 (the ‘Report’).
Engagement summary
ASSURANCE
SCOPE
Whether the 2021 data, for the period 1 January 2021 to 31 December 2021, for the following selected
performance indicators disclosed in the Report are fairly presented, in all material respects, with the
reporting criteria:
• Electricity Purchased [GWh] – page 21
• Diesel Consumption [ML] – page 21
• Total Energy Consumed [PJ] – page 21
• Total CO2-equivalent emissions, scope 1,2 and 3 [kt CO2e] – page 21 – 22
• Total CO2-equivalent emissions avoided from initiatives [kt CO2e] – page 13
• Total energy saved from initiatives [TJ] – page 13
• Total water consumed (withdrawal – discharge) [GL] – page 14
• Total water recycled/re-used per annum [GL] – page 14
REPORTING
CRITERIA
• Gold Fields GRI Standards Sustainability Reporting Guideline, V28 (October 2021)
• Gold Fields Group Protocol for Energy and Carbon Performance Data Management,
V4 (October 2021)
ASSURANCE
STANDARD
ERM CVS’ assurance methodology, based on the International Standard on Assurance Engagements
(ISAE) 3000 (Revised) and ISAE 3410 (for GHG Statements)
LEVEL OF
ASSURANCE
Reasonable Assurance
RESPECTIVE
RESPONSIBILITIES
Gold Fields is responsible for preparing the Report, including the collection and presentation of the
disclosures covered by the scope of our engagement, the design, implementation and maintenance
of related internal controls over the information and data, as well as the integrity of its website.
ERM’s responsibility is to provide an opinion on the selected information based on the evidence we have
obtained and exercising our professional judgement, on whether the information covered by the scope
of our engagement has been prepared in accordance with the stated criteria. ERM disclaims any liability
for any decision a person or entity may make based on this Assurance Statement.
OUR ASSURANCE ACTIVITIES
We planned and performed our work to obtain all the information and explanations that we believe were necessary to reduce
the risk of material misstatement to low, and therefore provide a basis for our assurance opinion. A multi-disciplinary team of
sustainability and assurance specialists performed the assurance activities, including, amongst others:
• Testing the processes and systems, including internal controls, used to generate, consolidate and report the selected
sustainability information;
• Reviewing the suitability of the internal reporting guidelines, including conversion factors used;
• In-person visits to interview responsible staff and verify source data and other evidence at the following sites:
– Agnew Mine, Australia; and
– Granny Smith Mine, Australia
• Remote reviews to verify source data for the following sites:
– Gruyere Mine, Australia;
– St Ives Mine, Australia;
– Cerro Corona Mine, Peru;
– South Deep Mine, South Africa;
– Tarkwa Mine, West Africa; and
– Damang Mine, West Africa
• An analytical review of the year-end data submitted by the sites listed above, and testing of the accuracy and completeness
of the consolidated 2021 Group data for the selected indicators; and
• Reviewing the presentation of information relevant to the scope of our work in the Report to ensure consistency with our findings.
1 ERM's assurance coverage of Scope 3 emissions included the following categories: Purchased Goods & Services, Fuel & Energy Related Activities, and Business
Travel; representing a coverage of 97% of total Scope 3 emissions. ERM also verified the overall Scope 3 emissions consolidation.
Statistic and assurance
OUR ASSURANCE OPINION
In our opinion, the selected sustainability performance information included in the Assurance Scope and presented in the Report,
are prepared, in all material respects, in accordance with the Reporting Criteria.
EMPHASIS OF MATTER
Without affecting our opinion, we draw attention to the explanatory notes provided by Gold Fields on page 13 of the Report relating
to the total energy savings for Tarkwa mine and their recognition as exceptional savings by the Gold Fields Group Head of Energy
and Carbon.
THE LIMITATIONS OF OUR ENGAGEMENT
The reliability of the assured data is subject to inherent uncertainties given the methods for determining, calculating or estimating
the underlying information. It is important to understand our assurance opinions in this context. Our independent Assurance
Statement provides no assurance on:
• The maintenance and integrity of Gold Fields’ website, including controls used to achieve this integrity, and in particular, whether
any changes may have occurred to the information since it was first published; or
• Any other information in the Report or on Gold Fields’ website for the current reporting period; or on the baseline values used for
presenting performance against targets; or prospective information including ambitions, plans, expectations or their achievability.
FORCE MAJEURE – COVID-19
As a result of travel restrictions arising from the current global pandemic, we were unable to carry out certain assurance activities
as originally planned and agreed with Gold Fields. In-person visits to selected operations and the head office were replaced with
remote reviews via teleconference and video calls for this year’s assurance engagement. While we believe these changes do not
affect our reasonable assurance opinions above, we draw attention to the possibility that if we had undertaken in-person visits
we may have identified errors and omissions in the assured information that we did not discover through the alternative approach.
OUR OBSERVATIONS
We have provided Gold Fields with a separate detailed Management Report. Without affecting the opinion presented above,
we have the following observations:
• Operations were found to have improved documentation retention processes for emissions avoided and energy saved from their
initiatives, although there is an opportunity for Gold Fields to apply an improved and consistent approach to the definition and
calculation approach for these indicators, in line with good practice for energy measurement and verification.
• Attention should be given to improving the implementation of change management processes at selected Australian sites to
maintain continuity in data management and reporting processes across environmental subject matters, especially when there
are changes in personnel involved in these processes.
Jonathan van Gool
Engagement Partner, ERM Southern Africa
29 March 2022
ERM Southern Africa (Pty) Ltd, Johannesburg, South Africa
www.erm.com
jonathan.vangool@erm.com
Gareth Manning
Review Partner, ERM CVS, London
29 March 2022
ERM Southern Africa (Pty) Ltd and ERM Certification and Verification Services (CVS) are members of the ERM Group. All employees are
subject to ERM’s Global Code of Business Conduct and Ethics. ERM CVS is accredited by the United Kingdom Accreditation Service
(UKAS) and our operating system is designed to comply with ISO 17021:2011. We have policies and procedures in place covering
quality, independence and competency. In line with established best practice for nonfinancial assurance, this engagement was
undertaken by a team of assurance and sustainability professionals. The work that ERM CVS conducts for clients is solely related
to independent assurance activities and auditor training. Our established management processes are designed and implemented to
ensure the work we undertake with clients is free from organisational and personal conflicts of interest or bias. The ERM and ERM CVS
staff that have undertaken this assurance engagement provide no consultancy related services to Gold Fields Limited in any respect.
Gold Fields Climate Change Report 2021
CCR
24
Glossary, administration, corporate information, forward-looking statement and disclaimer
GLOSSARY
ADMINISTRATION AND CORPORATE INFORMATION
FORWARD-LOOKING STATEMENTS
Statistic and assurance
This glossary contains key definitions based on the IPCC’s Working Group II
Report, Summary for Policymakers as contribution to the Sixth Assessment
Report (IPCC 2022, pages SPM 4 and 5).
Adaptation
Adaptation
limits
Exposure
Hazard
Resilience
Risk
Human systems adapt by adjusting to actual or expected
climate and its effects to lessen harm or take advantage
of beneficial opportunities. Ecological systems adapt by
adjusting to the actual climate and its effects, which may
be facilitated by human intervention.
The point at which the needs of human or ecological
systems can no longer be secured from intolerable risks
through adaptive actions. Two limits can be distinguished:
• Hard adaptation limit: the intolerable risks can no
longer be avoided through adaptation actions
• Soft adaptation limit: intolerable risk can be avoided
through options, but these are currently not available
The existence of people, economic, social or cultural
assets, infrastructure, livelihoods, ecosystems and their
functions and the like, in places and settings that could
be negatively affected.
The potential for the occurrence of a natural
or human-induced physical event or trend with
adverse effects, such as loss of life, injury or health
impacts, loss and damage to property, ecosystems
and environmental resources.
Any system’s ability to bounce back, cope and return
to a previous state after a disturbance in order to
maintain its essential function, identity and structure
and to still be able to adapt, learn and transform.
Risk can be used as a valuable framework to understand
the interlinked and increasingly severe impacts of climate
change on human systems, ecosystems and biodiversity.
Risk is the potential for negative consequences for
human or ecological systems, cognisant of the array
of values and objectives underlying these systems.
The interactions between climate-related hazards, and
the exposure and vulnerability of affected human and
ecological systems gives rise to risk.
Vulnerability
The tendency, or exposure to be negatively affected,
determined by a system’s level of sensitivity to harm and
its lack of capacity to cope and adapt.
Sponsor
J.P. Morgan Equities South Africa Proprietary Limited
1 Fricker Road
Illovo, Johannesburg 2196
South Africa
Gold Fields Limited
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code: GFI
Issuer code: GOGOF
ISIN: ZAE 000018123
Investor enquiries
Avishkar Nagaser
Tel: +27 11 562 9775
Mobile: +27 82 312 8692
email: avishkar.nagaser@goldfields.com
Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170
email: thomas.mengel@goldfields.com
Media enquiries
Sven Lunsche
Tel: +27 11 562 9763
Mobile: +27 83 260 9279
email: sven.lunsche@goldfields.com
Listings
JSE/NYSE/GFI
Directors: CA Carolus (Chair), CI Griffith** (Chief Executive
Officer), PA Schmidt** (Chief Financial Officer), A Andani#,
PJ Bacchus*, TP Goodlace, JE McGill^, SP Reid^, PG Sibiya,
YGH Suleman.
ˆ Australian * British # Ghanaian ** Executive Director
Company Secretary
Anré Weststrate
Tel: +27 11 562 9719
Fax: +086 720 2704
email: anré.weststrate@goldfields.com
Registered Office
Johannesburg
Gold Fields Limited
150 Helen Road
Sandown
Sandton
2196
Postnet Suite 252
Private Bag X30500
Houghton
2041
Tel: +27 11 562 9700
Fax: +27 11 562 9829
Office of the United Kingdom Secretaries
London
St James’s Corporate Services Limited
Suite 31, Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Tel: +44 (0) 20 7796 8644
email: general@corpserv.co.uk
American depository receipts transfer agent
Shareholder correspondence should be mailed to:
BNY Mellon
PO Box 505000
Louisville, KY 40233 – 5000
Overnight correspondence should be sent to:
BNY Mellon
462 South 4th Street, Suite 1600
Louisville, KY40202
email: shrrelations@cpushareownerservices.com
Phone numbers
Tel: 888 269 2377 Domestic
Tel: 201 680 6825 Foreign
www.goldfields.com
Gold Fields Climate Change Report 2021
CCR
25
This report, or the documents referred to herein, contains
forward-looking statements within the meaning of section
27A of the U.S. Securities Act of 1933 (the Securities Act)
and section 21E of the US Securities Exchange Act of 1934
(the Exchange Act) with respect to Gold Fields’ financial
condition, results of operations, business strategies,
operating efficiencies, competitive position, growth
opportunities for existing services, plans and objectives
of management, markets for stock and other matters.
Such forward-looking statements can be identified by the
use of forward-looking terminology, including the terms
“believes”, “estimates”, “plans”, “anticipates”, “aims”,
“continues”, “expects”, “hopes”, “may”, “will”, “would” or
“could” or, in each case, their negative or other various
or comparable terminology. These forward-looking
statements, including, among others, those relating to
Gold Fields’ future business prospects, revenues and
income, and including any climate change-related
statements, targets and metrics, wherever they may
occur in this report, or the documents referred to herein,
are necessary estimates reflecting the best judgement
of Gold Fields’ senior management and involve a
number of risks and uncertainties that could cause
actual results to differ materially from those suggested
by the forward-looking statements. Consequently,
these forward-looking statements should be considered
in light of various important factors, including those
outlined in this report, or the documents referred to
herein. Gold Fields undertakes no obligation to publicly
update or release any revisions to these forward-looking
statements to reflect events or circumstances after
the date of this report or to reflect the occurrence of
unanticipated events. Refer to Gold Fields’ comprehensive
forward-looking statements on www.goldfields.com.
DISCLAIMER
This report is focused on climate-related risks
and opportunities and aims to follow the TCFD
recommendations. It includes information on scope 1
and 2 carbon emissions. Climate related data is not yet
of the same quality as data available in the context of other
financial information and over time is likely to improve.
Understanding of approaches to climate transition and
physical risk is rapidly evolving. Some of the content of this
report is forward looking and developed based on current
information and belief and is subject to future risks,
dependencies and uncertainties. Gold Fields also publish
corporate sustainability disclosure on other sustainability
topics in its 2021 Integrated Annual Report.
www.goldfields.com