Exxaro Resources limited
Environmental, social and governance report 2021

Measuring our performance

We benchmark our ESG performance against our peers who exhibit the global best practice expected by responsible investors.


Global rating agencies evaluate our ESG performance using publicly available information (annual reports, websites and media) in line with the JSE Listings Requirements.

In 2021, we were again rated by FTSE Russell, Vigeo Eiris, Sustainalytics and the TPI.

FTSE Russell ESG Index

The FTSE Russell ESG Index series measures our ESG risks and impact with a score out of five for performance rated in terms of certain themes (based on our mining context).

Our ESG report discloses performance against the following relevant themes:

Pollution and resources
Climate change
Water use
Labour standards
Health and safety
Human rights and community
Risk management
Corporate governance
Safety excellence

Our risk exposure is classified as medium to high, determined by our business activities, and the FTSE Russell ESG Index rating confirms our efficient and strategic response to this exposure.

Our performance

Exxaro's FTSE Russell ESG Index score continues to improve. We remain ranked in the top quartile (22%) of global performers in the basic resources supersector. Our steady improvement since 2016 is shown below.

We scored 3.7 out of 5 (75% adherence to required index measurements) in 2021. The 25% shortfall indicates room for improvement in the environmental and social categories, which we continue to address.

We have maintained our leading ESG performance compared with global coal mining participants (outlined below).

Year-end 2021
Exxaro Global coal
FTSE Russell ESG score 3.7 2.1
Environment 3.6 1.7
Social 3.0 1.8
Governance 4.6 3.0

Source: FTSE Russell Corporate Performance Results.

Vigeo Eiris

We also feature in Moody's Vigeo Eiris ranking of the 100 best emerging market performers for social responsibility. The ranking is updated every six months, in June and December, and the top 100 performers are chosen from over 850 companies in 32 sectors of 31 countries.

Companies in this index consistently achieve the highest scores in assessments using the Vigeo Eiris methodology, which measures performance in human rights, human resources, community involvement, business behaviour and corporate governance.

We also provide evidence of corrective measures or stakeholder engagement in mitigating critical issues.


Exxaro's TPI ranking was 4/4 in 2021, based on our commitment to managing GHG emissions, which shows stakeholders that Exxaro is well placed for the transition to a low-carbon economy.

The TPI compares companies' expected future carbon emissions with local and international targets as part of the Paris Agreement. It is used as a benchmark to determine commitment to corporate climate action. A high TPI ranking demonstrates that a company is strategically mitigating climate change.


The Sustainalytics ESG rating measures exposure to industry-specific material risks (including company-specific factors such as the business model) and the company's management of those risks. Exxaro's exposure is rated medium and management is strong, which indicates the robustness of our ESG programmes, practices and policies.

We continue assessing feedback from other rating agencies to identify common assessment areas and opportunities for improvement.


We are dedicated to improving our resource stewardship, minimising our environmental impact and being socially responsible with maximum positive impact.

We are particularly focused on a just transition to cleaner energy while maintaining the best possible ESG performance.

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About this report
About Exxaro
Evolution of a 21st century company
Our ESG perspective
Measuring our performance
Strategic key performance indicators
Stakeholder management

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Air quality
Climate change resilience
Energy management
Water security management
Waste management
Environmental liabilities and rehabilitation
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Ethical culture
Performance and value creation
Adequate and effective control
Trust, good reputation and legitimacy
Board of directors
Our executive team
Remuneration and nomination committee report
Remuneration committee report
Nomination committee report
Risk and business resilience committee report
Social, ethics and responsibility committee report
Audit committee report
Investment committee report
King IV application register
Remuneration report
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Human rights

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GRI index
SASB index
Task Force for Climate-Related Financial Disclosures (TCFD)
Assurance report
Appendix A: Criteria