Paladin is committed to the goal of sustainable development which is reflected in its corporate values. The Company’s values include the promotion and creation of shared wealth, becoming a major uranium supplier, operating at global best practice, safety and environmental stewardship, employee welfare and recognition, and the contribution and response to the attitudes and expectations of local communities in the countries in which Paladin operates. Paladin is also cognisant of the extra diligence that is required by those in the uranium industry. The Company has therefore established an in-house team with extensive knowledge on uranium and the stringent requirements related to the commodity. Paladin also emphasises acting with integrity, honesty and cultural sensitivity in all its dealings. In support of this commitment, the Company applies and adheres to established and internationally-recognised principles of sustainable development across its global activities.
In implementing its sustainable development programme, Paladin aims to achieve a balance between economic, environmental and social needs in all phases of its projects, and takes into consideration its employees, communities, shareholders and other key stakeholders. Paladin ensures that its high standards are not compromised despite the current difficult economic climate it is operating in.
Sustainability at Paladin is governed through the Company’s Sustainability Committee which provides the Board with an overview of its performance in the areas of health, safety, radiation, environment, social responsibility and sustainable development. The Committee also advises and makes recommendations to the Board where significant sustainability-related issues arise. The Sustainability Committee currently comprises three members: a Non-executive Independent Director who is Chairman of the Sustainability Committee, the Chairman of Paladin’s Board and Paladin’s Chief Executive Officer (CEO). The Sustainability Committee’s Charter is available in the corporate governance section on Paladin’s website .
The Sustainability Committee meets at least twice a year. Paladin’s Management Team and external consultants are invited when appropriate to brief the Sustainability Committee and attend its meetings. The Committee reviews Paladin’s relevant policies and guidelines to ensure that they reflect current and emerging international standards. In addition, the Committee monitors Paladin’s performance on sustainability aspects and the operational effectiveness of its policies and guidelines. The Committee also considers reports related to significant accidents, environmental incidents, community concerns, policy breaches or systems failures, and reviews internal and external audit reports to ensure that Paladin’s operations are in compliance with relevant legislation. Any significant areas of concern are escalated from the Committee to the Board.
During the previous reporting period, all of Paladin Policies were reviewed, revised where necessary and approved by the Board. The Polices were rolled out to all Paladin Group personnel through comprehensive briefings and interactive sessions that addressed each policy in detail. The Company’s policies will all be reviewed again in the 2017 reporting period