Exxaro Resources Limited
Integrated report 2022
Materiality considerations are a fundamental guide to our reporting. Our material matters reflect the factors that impact our ability to deliver and sustain value for ourselves, stakeholders and the natural environment.
We annually assess our material matters. Since 2021, we have followed a detailed double materiality determination process to enable us to identify our impact materiality (our impact on society, communities and the environment) and our financial materiality (matters that impact our ability to generate revenue and preserve shareholder value over time). This approach reflects the combined guidance of the Integrated Reporting Framework and GRI, and results in matters that are prioritised and grouped into themes to inform our integrated and ESG report content.
The 2022 review confirmed that all our previous matters remain material and identified new matters for consideration under our themes. The materiality matrix that follows reflects 35 material matters grouped into seven themes, indicating their respective impact and financial materiality. Recognising that materiality is dynamic in nature, the process is conducted annually, allowing us to regularly and timeously reflect on matters that may evolve from being material from an impact perspective, to being financially material.
Adapting to a changing context
Country risk*
Geopolitical context
Macro-environment
Supporting a just transition to a low-carbon economy**
Commodity price risk*
Responsible environment stewardship*
Water stewardship*
Impact of climate change*
Managing our pollution*
Closure planning and rehabilitation management*
Carbon emissions reduction*
Waste management*
Biodiversity management*
Building sustainable communities
Social licence to operate*
Social acceptance and community unrest*
Supporting a just transition to a low-carbon economy**
Impacts on local communities (positive and negative)*
Value sharing*
Job and business creation
Resettlement and land use*
Human rights
Helping our people thrive
Health, safety and wellness
Workforce: culture, capability, diversity, inclusion and innovation
Labour relations
Executing our strategy
Diversity into minerals
Build a leading renewable energy solutions business
Coal portfolio optimisation
Driving business resilience
Supply chain and logistical impediments*
Financial performance and resilience
Capital allocation
Cyber risk*
Innovation and digitalisation
Principled governance
Transparency, ethics and integrity
mbedding ESG in response to increased regulation and for
sustainability*
Legal, regulatory and compliance excellence
Risk management*
* New matter or theme. ** Dual matter (across two themes).
Adapting to a changing context
The operating context is changing rapidly. Social, political and economic issues all impact our ability to create value. We operate in a long-term asset class with significant infrastructure investment. To remain competitive, we must respond to the current context and anticipate the future.
Responsible environmental stewardship
We acknowledge the impact of mining in our ecosystem. We must ensure we are responsible stewards of natural resources upon which our operations and communities rely to ensure a sustainable future for our employees, communities and the planet.
Building sustainable communities
We operate in an environment of stakeholder capitalism#. Our business activities impact our stakeholders and they, in turn, respond to these impacts.
Our social licence to operate depends on how we look after our communities and the natural world around us, and adherence to legislation.
In addition to the many programmes we have in place to support our communities' health and wellbeing, we are also committed to a socially just transition, sensitive to the potential impacts for Exxaro, our communities, South Africa and the planet.
| # | Where organisations are oriented to serve the interests of all their stakeholders. |
Helping our people thrive
Exxaro's employees are the enablers of our performance. To deliver on our strategic goals, we foster a culture that supports adaptability and innovation, while leveraging the strength of diversity, equity and inclusion.
We are committed to protecting our people's health, safety and wellness and building trusting relationships.
Executing our strategy
Climate change is not a refutable occurrence. We are committed to the Paris Agreement and have established a strategy and business objectives to respond to both the short and long-term risks and opportunities presented by climate change.
Driving business resilience
Underpinning our strategic objectives is the drive to enhance our business resilience through safe production, delivering financial results, effective capital allocation, compliance excellence, entrenching innovation and capitalising on digitalisation.
Principled governance
We conduct ourselves so as to strengthen our business reputation as a good corporate citizen and resilience in a changing environment.
Exxaro maintenance team at work
Report Index
