Environmental and Social Performance Framework (ESPF)
Toro Gold is fully committed to meeting International standards of good practice in the areas of social development, environmental protection and health safety and security. These issues are important to the company’s directors and employees, its investors and communities impacted by its activities.
Although currently principally an exploration company, Toro Gold intends to expand rapidly and to fully develop gold resources through to production and recognizes the need to adopt and apply standards and approaches which transcend the full development cycle from design through to closure. Some of these requirements will therefore only become applicable when Toro moves from feasibility into the operational stages for its assets.
Toro Gold has generally adopted the Performance Standards of the International Finance Corporation as an appropriate benchmark of International good practice. These are supplemented as required by reference to the United Nations Guiding Principles on Business and Human Rights. Toro Gold is also supportive of the International Council on Mining and Metals (ICMM) Sustainable Development Framework and has been cognisant of its principles, as far as they can be applied at its current stage of development.
To support this commitment, Toro Gold has developed a Social and Environmental Performance Framework (“ESPF”), which will govern the way it operates with respect to these key issues. The framework includes a series of business principles and commitments which are an integral part of our business strategy. These are supported by a policy and set of performance standards which identify key management requirements during operations.
These commitments have the full support of the Toro Gold Board of Directors and are actively disseminated to employees through training and professional development. In order to implement and manage the ESPF, Toro Gold has appointed a dedicated team to oversee compliance with the framework across the company’s portfolio of projects.
Our business principles and commitments are outlined for each of the following areas:
- Toro Gold will work with and listen to the concerns and interests of local communities and will seek to ensure that they benefit from its presence on a long term basis.
- Toro Gold will support human rights within its reasonable area of influence and undertake appropriate Human Rights due diligence related to its activities
- Assess the social impacts of our operations in advance of commencement and work to avoid or mitigate negative impacts and meet standards of international good practice.
- Work in partnership with communities, Governments and other stakeholders to understand their priorities and contribute to social development through economic growth.
- Work to build good relationships with communities and to take community impacts into account respecting their cultures and traditions.
- Work to ensure that local communities benefit on an enduring basis through opportunities such as employment, local supply and contracting, and training. Where appropriate seek to ensure that local opportunities are prioritised throughout our supply chain.
- Include appropriate conditions within sub-contractor and supplier agreements to seek to ensure their consistency with these commitments.
- Selectively invest in social projects that benefit local communities and support the Toro Gold business.
- Support human rights through our work activities, including work conditions for employees, special sensitivity towards dealing with indigenous populations, conducting security operations, and in seeking to ensure that local communities benefit from our presence. In particular support the UN Guiding Principles on Business and Human Rights and the Voluntary Principle on Security and Human Rights.
- Toro Gold will meet internationally accepted best practice and where necessary exceed local regulatory standards to achieve that.
- Toro Gold will work to minimise the environmental impact of its operations at all times and will work to enhance the environment around its projects as far as is practicable.
- Toro Gold will seek to implement a No Net Loss approach to biodiversity conservation at its operational sites.
- Assess the environmental impacts of our operations in advance of commencement and prevent or mitigate any harmful effects.
- Always comply with local regulation but apply international standards (IFC performance standards) where these are more rigorous.
- Work proactively with others, to contribute to biodiversity conservation through scientific, practical and educational activity. In projects with biodiversity impacts, develop a biodiversity strategy, which will set out an appropriate mitigation hierarchy and how we plan to achieve a No Net Loss biodiversity conservation.
- Minimise the carbon footprint of our operations through appropriate investment in efficient technology.
- Work to continuously improve its performance.
Health, Safety and Security:
- Toro Gold will provide secure work environments which are healthy and safe.
- Toro Gold will treat all employees with fairness and respect and help them to develop their potential through training.
- Conduct all operations consistent with industry best practice with respect to Health, Safety and Security. Apply rigorous standards, guidelines and management systems to hazardous activities and effectively implement them with employees and contractors.
- Develop a workplace culture which is conducive to a healthy and safe environment and prevents dangers and abuses and train employees to that effect.
- Work with contractors to ensure that the supply chain does not include forced or harmful child labour or abusive labour practices.
- Support the Voluntary Principles on Security and Human rights and include them in private security contracts