Yancoal appreciates that we can only achieve ongoing financial and operational success if we not only meet, but also exceed, all our environmental, social and community responsibilities. Reporting transparently on our commitment to achieve positive outcomes and to address particular challenges across a broad range of activities is central to Yancoal for maintaining our social license to operate.
While operating efficiently and profitably, and managing risk is good business practice, Yancoal’s objectives also include:
• Operating responsibly, safely and ethically;
• Contributing to positive community and economic outcomes; and
• Identifying opportunities in risks that the business manages.
Facilitating the pursuit of these clear objectives is Yancoal’s set of core values – People, Safety, Innovation, Excellence and Integrity – which drive our daily behaviour. Firmly incorporating these objectives and embedding these core values into Yancoal’s business ensures our sustainability into the future.
Yancoal’s performance in 2019, which is outlined in our 2019 ESG Report, demonstrated a continued commitment to these objective and values. Numerous activities, events and data that are contained in the report reflect pleasing trends and trajectories across the business:
• Total greenhouse gas emissions and emissions intensity across operations declined;
• 260 hectares of land rehabilitation was completed across the Group;
• Independent Environment Assurance Audits, an internal Yancoal initiative to underpin ongoing excellence in environmental stewardship, were undertaken at several of our mines;
• Total recordable work-related injuries were reduced by 14%;
• Improved management processes led to a 36% decline in community complaints regarding noise across our operations;
• A Water Asset Register was developed, which will allow the business to more efficiently manage the use of this important resource across the organisation;
• The Duralie operation received the prestigious NSW Minerals Council environmental excellence award for dedication to successfully supporting and protecting threatened and native fauna through its unique nest box program; and
• Yancoal’s first stand-alone Economic Assessment Impact report measured the comprehensive economic benefits that flow to local communities and governments from our operations.
Such positive outcomes are not just ‘bolt-on’ achievements – they are integral to our overall strategy to generate enduring benefits and value for all our stakeholders, shareholders, employees, neighbours, community members and governments alike.