WHEATON PRECIOUS METALS ADOPTS CLIMATE CHANGE POLICY AND COMMITS TO NET ZERO CARBON EMISSIONS BY 2050

TSX | NYSE | LSE: WPM

Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce enhanced climate change and environmental commitments through a number of new, formalized policies and initiatives as part of Wheaton's broader environmental, social and governance ("ESG") strategy.

"Today's announcement reinforces Wheaton's long-standing commitment to industry-leading ESG practices and to being an agent of change. These initiatives are not only critical to how we manage our business risk, but they are also the right thing to do," said Randy Smallwood , President and Chief Executive Officer of Wheaton Precious Metals. "Along with our partners, we strongly believe that promoting responsible mining practices and developing clear roadmaps to reach net zero is more important than ever. Aligning our strategy and approach with the most recent climate science will allow us to continue our mandate of delivering long-term sustainable value to all our stakeholders through our streaming business model."

These enhanced climate change and environmental commitments include the following:

  • Commitment to achieve net zero carbon emissions by 2050 1 . This includes the establishment of targets across both Scope 2 and Scope 3 attributable emissions to support a 1.5° C trajectory. This target development process will begin immediately in collaboration with third-party partnership organizations to ensure that our targets align with the goals of the Paris Agreement, and regular updates will be provided beginning in Wheaton's 2021 Sustainability Report (the "Sustainability Report") to be published in May.
  • Engagement with our mining partners to encourage the establishment of emissions targets to support a 1.5° C trajectory at their operations.
  • Establishment of a fund to support our mining partners' efforts to move to renewable energy sources and / or reduce emissions at the mines in which we have an interest. Accessible to all mining partners, Wheaton has made a $4 million initial commitment, representing 1% of its average net income of the previous four years.

Wheaton's detailed approach to climate change, including comprehensive information on climate related financial risks and opportunities, will be disclosed in its upcoming Sustainability Report to be published in May and will be aligned with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The Sustainability Report will also provide inaugural quantification of Wheaton's Scope 3 emissions for its Investments (Category 15).

Wheaton's full climate change and environmental policy is available here . To find out more about Wheaton's ESG approach, visit https://www.wheatonpm.com/responsibility .

CAUTIONARY NOTE REGARDING FORWARD-LOOKINGSTATEMENTS

This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation concerning the business, operations and financial performance of Wheaton and, in some instances, the business, mining operations and performance of Wheaton's precious metals purchase agreement ("PMPA") counterparties. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to Wheaton's climate change and environmental commitments, the future price of commodities, the estimation of future production from mineral stream interests owned by Wheaton (the "Mining Operations") (including in the estimation of production, mill throughput, grades, recoveries and exploration potential), the estimation of mineral reserves and mineral resources (including the estimation of reserve conversion rates) and the realization of such estimations and the commencement, timing and achievement of construction, expansion or improvement projects by Wheaton's PMPA counterparties at Mining Operations. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", "potential", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wheaton to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks associated with the ability to achieve climate change and environmental commitments at Wheaton and at the Mining Operations, fluctuations in the price of commodities (including Wheaton's ability to sell its precious metals or cobalt production at acceptable prices or at all), the Mining Operations (including fluctuations in the price of the primary or other commodities mined at such operations, regulatory, political and other risks of the jurisdictions in which the Mining Operations are located, actual results of mining, risks associated with the exploration, development, operating, expansion and improvement of the Mining Operations, environmental and economic risks of the Mining Operations, and changes in project parameters as plans continue to be refined), and other risks discussed in the section entitled "Description of the Business – Risk Factors" in Wheaton's Annual Information Form available on SEDAR at www.sedar.com , and in Wheaton's Form 40-F for the year ended December 31, 2020 and Form 6-K filed March 11, 2021 both available on EDGAR at www.sec.gov , as well as the risks set out in Wheaton's management's discussions and analysis for the period ended December 31, 2020 available on SEDAR and EDGAR (together, the "Disclosure"). Forward-looking statements are based on assumptions management currently believes to be reasonable, including (without limitation): that Wheaton will be able to achieve climate change and environmental commitments, there will be no material adverse change in the market price of commodities, that the Mining Operations will continue to operate and the mining projects will be completed in accordance with public statements and achieve their stated production estimates, that the mineral reserve and mineral resource estimates from Mining Operations (including reserve conversion rates) are accurate, and such other assumptions and factors as set out in the Disclosure. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Wheaton. Readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. The forward-looking statements included herein are for the purpose of providing readers with information to assist them in understanding Wheaton's expected financial and operational performance and may not be appropriate for other purposes. Any forward-looking statement speaks only as of the date on which it is made, reflects Wheaton's management's current beliefs based on current information and will not be updated except in accordance with applicable securities laws. Although Wheaton has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward‑looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended.

____________________________

1

Net zero includes emissions reductions in line with a 1.5 trajectory across Scopes 1, 2 and 3. Achievement of net zero may include the use of offsets for residual emissions in 2050.

Cision View original content: https://www.prnewswire.com/news-releases/wheaton-precious-metals-adopts-climate-change-policy-and-commits-to-net-zero-carbon-emissions-by-2050-301478379.html

SOURCE Wheaton Precious Metals Corp.

Cision View original content: https://www.newswire.ca/en/releases/archive/February2022/09/c2428.html

News Provided by Canada Newswire via QuoteMedia

WPM:CA
The Conversation (0)
TSXV:MGM

Maple Gold Mines: Advancing the Douay Gold Project in Quebec’s Abitibi Greenstone Belt

Maple Gold Mines (TSXV:MGM,OTCQB:MGMLF,FSE:M3G) has launched its campaign on the Investing News Network’s resource channel.

Maple Gold Mines is an advanced gold company developing its flagship Douay gold project located in Quebec’s Abitibi Greenstone Belt. The Douay property hosts an NI 43-101 resource of 422,000 indicated ounces of gold including 8.6 Mt grading 1.52 g/t gold and 2.35 million inferred ounces including 71.2 Mt grading 1.03 g/t gold. The Douay resource is the third-largest undeveloped gold resource in the province of Quebec.

Keep reading...Show less
R3D Resources

$1.5 Million in Firm Commitments Received for Capital Raisings

$0.5 million partial underwrite of the Rights Issue & $1.0 million in further debt or equity to be raised by end April 2024

R3D Resources Limited (ASX: R3D) (the Company) (renamed Tartana Minerals Limited) is pleased to provide an update on the 1 for 5 pro rata entitlement offer of New Shares in the Company at an issue price of $0.05 per New Share, as well as 1 attaching Option exercisable at $0.10 expiring 31 December 2025 for each 2 New Shares subscribed for (the Rights Issue) which opened in November 2023.

Keep reading...Show less
Brightstar Resources

Successful Completion of A$12 Million Share Placement

Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) is pleased to report that it has received firm commitments for a placement of new fully paid ordinary shares in the Company (Shares) at A$0.014 per Share to raise A$12 million (before costs) (Placement).

Keep reading...Show less
Peter Schloo, president and CEO of Heritage Mining.

Heritage Mining Gears up for 2024 Exploration at Drayton-Black Lake Project

Heritage Mining (CSE:HML) is gearing up for more drilling in 2024 following a successful drill program in 2023, the results of which confirmed the presence of multiple high-grade instances of gold and silver mineralization.

“We're advancing, and we were probably the most active in 2023 from an exploration perspective,” said Peter Schloo, president and CEO of Heritage Mining. “So we have a lot of news to come and, you know, the stocks are looking really good.”

The company will be conducting ground induced polarization drilling to further define the deposit potential at the Alcona and New Millennium targets within its flagship Drayton-Black Lake project.

Keep reading...Show less
FREEGOLD ANNOUNCES CLOSING OF $10 MILLION BROKERED PRIVATE PLACEMENT FINANCING

FREEGOLD ANNOUNCES CLOSING OF $10 MILLION BROKERED PRIVATE PLACEMENT FINANCING

Freegold Ventures Limited (TSX: FVL) (" Freegold " or the " Company "), is pleased to announce that further to its news release of March 8, 2024 the Company has closed its upsized brokered private placement offering for aggregate gross proceeds of $10,000,000 ). Paradigm Capital acted as sole agent (the " Agent ") on the Offering.

In connection with the Offering, the Company entered into an agency agreement (the " Agency Agreement ") dated March 26, 2024 , between the Company and the Agent. In accordance with the Agency Agreement, 25,000,000 units of the Company (the " Units ") were issued at a price of $0.40 per Unit. Each Unit is comprised of one common share of the Company (a " Unit Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant is exercisable to acquire one common share of the Company (a " Warrant Share ") for 24 months from today's date at an exercise price of $0.52 per Warrant Share.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Advancing Multiple Gold Discoveries in Proven Jurisdictions

Advancing Multiple Gold Discoveries in Proven Jurisdictions

Focused on adding value through cost effective minerals exploration and discovery

This Presentation has been prepared as a summary only and does not contain all information about Many Peaks Minerals Limited’s (“MPK” or the “Company”) assets and liabilities, financial position and performance, profits and losses, prospects and rights and liabilities. The information in this Presentation and made to you verbally is subject to updating, completion, revision, further verification and amendment without notice.
Keep reading...Show less
Siren Gold

Significant Mineralisation Intersected at Auld Creek

Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Auld Creek Prospect.
Keep reading...Show less

Latest Press Releases

Related News

×