Next statement date 21 March 2021 due by 2 May 2021. Our business involves producing and consuming fossil fuels along with processing minerals, all of which inevitably entails emitting a level of greenhouse gases. 2019 Trafigura Terms and Conditions for the sales and purchase of physical non-ferrous metals Responsible sourcing As one of the world’s leading traders of metals and minerals, we recognise the potential for adverse social or environmental impacts associated with their extraction, processing and … We remain focused on the significant risks facing our industry arising from operational catastrophes. We are one of the major producers of key metals (including copper, cobalt, nickel) that are currently essential for electric vehicles and the transition to a low carbon economy, although technological change may over time reduce their requirement. Mitigating factors - We seek to ensure compliance through our commitment to complying with or exceeding the laws and regulations applicable to our operations and products and through monitoring of legislative requirements, engagement with government and regulators, and compliance with the terms of permits and licences. Any successful claims brought against the Group could result in material damages being awarded against the Group, the cessation of operations, compensation and remedial and/or preventative orders. 1Half-Year Report 2019 . Sign in / Register; Search for a company or officer … Developments - Divergence has been observed across different commodities over the past 12 months, with increasing levels of volatility seen, driven by global shifts in the supply-demand balance. We do so through our strategy  of sustainably growing total shareholder returns while maintaining a strong investment grade rating and acting as a responsible operator. Azilda Greenhouses Brown’s … However, there can be no assurance that such policies, standards, procedures and controls will adequately protect the Group against fraud, corruption, sanctions breaches or other unlawful activities. Glencore plc, together with its affiliates (“Glencore”) has agreed to accept the Rights Offering proceeds of CDN$7,678,388,000 or the equivalent in Common Shares issued from treasury under the Rights Offering to repay US$5.8 billion of debt owed to Glencore (based on a five day average CDN$/US$ exchange rate as of November 15, 2019, which is 1.32386). Health and safety. Illegal artisanal mining continues to be a challenge at certain operations, most notably in the DRC. We strive to comply with our own health, safety and environmental policies and relevant external laws and requirements. Supply, demand and prices of commodities Risk movement in 2019- Stable Risk appetite- Low. Inevitably, every mine will reach a point of depletion where it is no longer economic to operate and must be closed in an orderly fashion. The Group’s credit ratings are currently Baa1 (positive outlook) from Moody’s and BBB+ (stable outlook) from Standard & Poor’s. Risk management is one of the core responsibilities of the Board and its Committees, and it is central to the decision-making process. In particular, a number of lawsuits have been brought against fossil fuel companies in various jurisdictions seeking damages related to climate change. Our operations have a significant effect on our workforce, and surrounding communities and on society as a whole. The natural diversification of our portfolio of commodities, geographies, currencies, assets and liabilities is a source of mitigation for some of the risks we face. Considerable ongoing investment continues in the Group’s SafeWork health and safety programme. At Antapaccay, we have engaged external human rights experts to undertake an independent human rights review to build an understanding of stakeholder perceptions and concerns about the operation. This includes countries where we have assets such as Australia, Canada, Chile and South Africa, as well as our customer markets such as China, India and Europe. Some investors may not invest in our shares or divest their holdings due to our significant operations in fossil fuels. In December 2018, global investors collectively representing $11.5tn have set out their requirements to investee power companies to set out transition plans consistent with the goal of the Paris Agreement. In doing so, we engage with local communities to demonstrate our operations’ contribution to socio-economic development and seek to ensure that appropriate measures are taken to prevent or mitigate possible adverse impacts on the community. Furthermore, in certain countries title to land and rights and permits in respect of resources are not always clear or may be challenged. Mitigating factors - We continue to maintain focus on cost discipline and achieving greater operational efficiency. In light of the Group’s extensive funding activities, maintaining investment grade credit rating status is a financial priority. A number of our assets are in regions with poor approaches towards personal safety, little or no access to health facilities, and poor working conditions, and organisational cultures. The Group is named in a securities class action suit in the United States District Court of New Jersey in connection with the above investigations and various other class action and securities laws suits have been threatened against the Group. (more…) Glencore Agriculture bids farewell to AgriBusiness 6 May 2020 We are comfortably on track to exceed our target. We have, since 2016, reduced our bond portfolio significantly, although in a given year (including in 2019) we may issue more than we repay, depending on cost of funding. Risk description and potential impact - Climate change is a material issue that can affect our business. We source, store, blend and deliver physical commodities reliably, efficiently and responsibly anywhere in the world. Risk description and potential impact - Our industrial activities are subject to numerous risks and hazards normally associated with the initiation, development, operation and/or expansion of natural resource projects, many of which are beyond our control. in reducing the demand for coal or increasing its pricing (via carbon taxes) – see Climate change risk on page 87. Furthermore, following an extensive review, it was determined to permanently close the 53-year-old Brunswick lead smelter, which had been “stranded” following closure of the Brunswick mine in 2013. Major decisions by governments can also lead to lower growth of some countries or regions, such as U.S./China trade decisions and Brexit. This identification and assessment follows the same processes as for principal risks. The Board seeks to identify and assess emerging risks using the regular reports it receives from Management and its Committees and by staying abreast of the issues and concerns arising in the industry. The Group has an active engagement strategy with the governments, regulators and other stakeholders within the countries in which it operates or intends to operate. We determine how significant the potential impacts are (both positive and negative) and act accordingly, Properly select and apply accounting policies, Present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information, Provide additional disclosures when compliance with the specific requirements in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity’s financial position and financial performance, Make an assessment of the Company’s ability to continue as a going concern. We review our membership of trade associations to ensure that these do not undermine our support for the goals of the Paris Agreement. As a significant producer, marketer and consumer of energy products, energy is a key output, input, cost and revenue driver for our business, and a material source of our greenhouse gas emissions. We conduct routine third party penetration tests to independently confirm the security of our IT systems and we seek to enhance monitoring of our Operational Technology (OT) platforms. We can also reduce the production of any commodity within our portfolio in response to changing market conditions. In addition, the Group may be the subject of legal claims brought by private parties in connection with alleged non-compliance with these laws, including class action suits in connection with governmental and other investigations and proceedings, and lawsuits based upon damage resulting from operations. We seek to make our grievance mechanisms available to the community members impacted by our operations. Given the volatility of commodity prices over the past year and historically, we continue to focus on the partially controllable element of the margin equation – production and costs. The unrest has resulted in protests and blockades, leading to operational shutdowns and putting our workforce at risk of injury. Where possible foreign exchange (FX) exposure to non-operating FX risks is hedged. The Group also continues to actively engage with governmental authorities in light of upcoming changes and developments in legislation and enforcement policies. Where desirable and possible, credit exposure is covered through credit mitigation products. Through the reporting function within the programme, our Board and senior management receive regular updates and have a detailed oversight on how our business is performing across all of the sustainability indicators. Similarly, decreases in commodity prices are generally associated with increases in the US dollar relative to local producer currencies. 3. Additionally, we seek to ensure this risk is minimised through scale of operations and diversity of product. We have invested in global IT security platforms in order to proactively monitor and manage our cyber risks. the Directors' Responsibilities Statement. In the DRC, we operate a number of programmes to offer alternative livelihoods to people engaged in illegal artisanal mining. Risk is, however, by its very nature uncertain and inevitably events may lead to our policies and procedures not having a material mitigating effect on the negative impacts of the occurrence of a particular event. Local health services might be in the early stages of development, or local authorities may not have the resources to cope with the scale of need. Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. Annual Report 2019. Further details on this incident and our response are available on our website at: glencore.com/media-and-insights/updates-regarding-illegal-mining-at-KCC. Community relations and human rights. One of the key factors in our success is a good and trustworthy relationship with our people and developing a direct engagement with them. We recognise that the increasing convergence of IT and Operational Technology (OT) networks will create new risks and demand additional management time and focus. Mitigating factors - Our approach to sustainability and our expectations of our workers and our business partners are outlined in our sustainability framework. Supply and demand volumes can also be impacted by technological developments, e.g. Glencore's companies employ around 160,000 people, including contractors. As a result of these factors, some market participants and analysts have a more bearish view (some strongly so) in relation to coal and oil. In addition, through our governance processes and our proactive management approach we seek to mitigate, where possible, the impacts of certain risks should they materialise. The transaction also involves a payment from Orsted to Glencore. 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