General
Freeport-McMoRan Copper & Gold Inc. believes that, as a responsible corporate citizen, it is our duty together with our subsidiaries to minimize the impact of our operations on the environment using risk management strategies based on valid data and sound science and, where practicable, to protect and enhance the quality of the environment in areas where we operate. We are also committed to providing a safe working environment for our employees and contractors and being a positive contributor to a healthy social/economic environment for the local people where we operate.
We are committed not only to compliance with applicable environmental statutes and regulations, but also to continuous improvement of our environmental performance at all our operations. Environmental audits are conducted regularly to assess environmental compliance, management systems, and practices. Goals and benchmarks are established at each operation as a yardstick to measure environmental performance. We also work with governmental agencies, the local population, and responsible non-governmental organizations to enhance our environmental performance.
As a member of the International Council on Mining and Metals (ICMM) we are implementing the ICMM Sustainable Development Framework which is composed of 10 sustainable development principles (see attached), including public reporting on performance with independent assurance and verification that we are adhering to the principles.
Environmental Principles
To achieve these Policy objectives, we and our subsidiaries:
- Comply in all material respects with all applicable environmental laws and regulations and, in jurisdictions where these are absent or inadequate, apply cost-effective management practices to advance environmental protection, and minimize environmental risks.
- Make environmental management a high corporate priority and the integration of environmental policies, programs, and practices an essential element of management, including evaluating employee performance.
- Communicate to all employees, contractors, and vendors the importance of environmental protection and provide adequate resources, staff, and requisite training so that employees at all levels are able to fulfill their environmental responsibilities.
- Review and take account of the environmental effects of each activity, whether exploration, mining, or processing; and plan and conduct the design, development, operation, and closure of each facility, including pollution control systems, in a manner that optimizes the economic use of resources while reducing adverse environmental effects.
- Promote energy efficiency and responsible recycling.
- Certify under ISO 14001 all operations worldwide.
- Conduct regular environmental reviews, assessments and audits, and act on the results as a means to achieve continuous improvement.
- Acknowledge that certain areas may have particular ecological, biodiversity, or cultural values as well as development potential and, in such instances, consider these values along with the economic, social, and other benefits resulting from development.
- Support research to expand scientific knowledge and develop improved technologies to protect the environment, promote the transfer of technologies that mitigate adverse environmental effects, and use technologies and practices which take due account and respect of local cultures, customs and values as well as the economic and environmental needs.
- Recognize local communities as stakeholders and engage with them in a process of consultation and communication regarding social and environmental management issues and impacts.
- Support biodiversity programs and sustainable development in all operational areas.
- Remediate historical sites for which we are responsible.
Environmental Auditing
Environmental auditing is a key component of this Environmental Policy. Environmental auditing is a systematic, objective evaluation of facility operations and practices which is designed to:
- Verify compliance with environmental regulations, internal policies, and accepted practices.
- Evaluate the effectiveness of environmental management systems in place.
- Identify and assess any reasonably foreseeable risks associated with hazardous conditions attributable to our operations and prevent or mitigate such risks.
As prescribed in our Environmental Auditing Policy (see attached), major operating facilities are to be internally audited at least every two years. Facilities can be audited more or less frequently with concurrence from senior management. Periodic, external audits may also be deemed appropriate for certain facilities by senior management. The auditing policy covers all aspects of environmental management, programs, controls, and treatment facilities.
Oversight and Communication
Our Board of Directors’ Public Policy Committee and the Board will periodically review and update this Environmental Policy. Based on the results obtained from the periodic assessments and audits, senior management will review and revise, as needed, environmental, liability management objectives, programs, and management systems.
We will work to foster throughout the Company and its subsidiaries a sense of responsibility regarding the environment. We also recognizes our responsibility to communicate to the public on our environmental status and progress through annual reports, publication of external audit results, notifications of environmental certifications, and other public statements and announcements.
As Adopted by the Freeport-McMoRan Copper & Gold Inc. Board of Directors July 31, 2007
